BTEC HND Unit 9: Entrepreneurship Ventures and Economic Impact

This report, submitted as part of a BTEC Level 4 HND Diploma in Business, delves into the realm of entrepreneurship, examining various venture types and their economic impact. The report begins by introducing different entrepreneurial ventures, including small businesses (Foodmap.asia), scalable startups (Google LLC), high-growth firms (Unilever), and social enterprises (KOTO). It explores their definitions, characteristics, and real-world examples. The report then compares and contrasts these ventures, highlighting their similarities and differences. Furthermore, it assesses the significance of small businesses and startups on the economy, discussing their impact on job creation, innovation, and social development. The report concludes by summarizing the key findings and emphasizing the importance of entrepreneurship in driving economic growth and societal progress. The report provides valuable business advice and market knowledge through analyzing and measuring the effect of various business environments.

ASSIGNMENT 1 FRONT SHEET
Qualification BTEC Level 4 HND Diploma in Business
Unit number and title Unit 9: Entrepreneurship and Small Business Management
Submission date 15/08/2021 Date received (1 st submission)
Re-submission date Date received (2 nd submission)
Student name CAO XUAN SANG Student ID GBD1912
Class 495-GED0901A Assessor name NGUYEN
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I certify that the assignment submission is entirely my own work and I fully understand the consequences of pla
making a false declaration is a form of malpractice.
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Contents
Introduction .................................................................................................................................................................. 4
Explore and illustrate the range of different entrepreneurship ventures .................................................................... 5
I. Different types of entrepreneurial ventures .................................................................................................... 5
II. The similarities and differences between entrepreneurial ventures ............................................................... 9
1. The similarities .................................................................................................................................................. 9
2. The differences ............................................................................................................................................... 11
III. Evaluate the impact and importance of small businesses on the economy .................................................. 14
1) The impact of the chosen small businesses on the economy. ....................................................................... 14
2) The importance of small businesses and business start-ups to the growth of the social economy .............. 18
Conclusion ................................................................................................................................................................... 20
References .................................................................................................................................................................. 21
Figure 1 the four main types of small businesses ......................................................................................................... 5
Figure 2 Summary of economic situation in the country ........................................................................................... 15
Figure 3 Percentage of businesses affected by Covid-19 by size, type of business and economic sector ................. 16
Table 1 differences between entrepreneurial ventures ............................................................................................. 12

Introduction
Many other sorts of entrepreneurs are currently on the increase, making a big effect and
being vital to every country. The researcher will address the variety of company kinds and
economic performance assessments of four firms, covering all types: small business, scalable
startup, high growth firms, social enterprise (one state-owned company). By analyzing and
measuring the effect of various business environments, this study will provide organizations
with business advice and market knowledge. To better understand, the researcher has
selected 4 companies representing 4 types of business to study:
Small business- Foodmap. Asia is a platform that connects farmers and producers to
customers in order to showcase Vietnamese agricultural goods and specialities.
Foodmap.asia is always striving to enhance service quality in order to provide outstanding
and secure purchasing experiences for agricultural products. Customers will benefit from
utilities while shopping online at Foodmap.asia. FoodMap is an e-commerce website that
focuses in safe agricultural goods connected to UFO Technology and Trading Joint Stock
Company (UFO Technology). FoodMap now creates three distinct brands: Delicious
Specialties (such as sugar, honey, veggies...), Maloka (tea and coffee), and HappyNut
(nutrition nuts) (startup.vnexpres, 2021).
Scalable startup- Google LLC is an American multinational technology company that
specializes in Internet-related products and services, including online advertising
technologies, search engines, cloud computing, software and Hardware. It is considered one
of the Big Four technology companies, along with Amazon, Apple and Facebook (Hằng, 2021).
High growth firms- Unilever corporation Unilever is a brand established by the UK and the
Netherlands, has been present in many different countries and was present in Vietnam in
1995. Over 25 years, Unilever has had a distribution system. Nationwide sales through more
than 350 major distributors and more than 150,000 retail stores. With a wide range of
products in different fields such as FMCG, beverages, food... (Unilever, 2021)

Social enterprise- KOTO is a not-for-profit social enterprise that empowers at-risk and
disadvantaged youth in Vietnam through its holistic hospitality training program (KOTO,
2019).
Explore and illustrate the range of different entrepreneurship
ventures
I. Different types of entrepreneurial ventures
a. Small Business:
Figure 1 the four main types of small businesses
Definition: “A small business is defined as an independently owned and operated company
with restricted size and revenue based on the industry. After reviewing the available
information on definitions on small business, some trends have prevailed as to variables most
often used to delineate between small and large business. These variables include:
• Number of employees
• Annual sales
• Amount of assets

• Management organization structure
• Dominance in its operating industry
The number of employees is the most often used definition of a small business, with numbers
ranging from less than 50 employees being considered small to less than 1000 employees
being considered small.” (Osteryoung & Newman, 1993).
Link with each chosen company:Vietnam has a large agricultural sector and exports a variety
of commodities such as rice, coffee, cotton, peanuts, rubber, sugarcane, and so on. Aside
from these things, there are a plethora of other commodities, such as fruits and vegetables,
that businesses may process and sell to clients while making a profit. “FoodMap began with
a zero: no cash, a borrowed 20m2 office, a website, supplier-supported items, and debt.
FoodMap's most significant asset has always been enthusiasm. The founders' unwavering
love for Vietnamese agricultural goods and their intimate knowledge of the Vietnamese
agricultural business” (Dương, 2021). A platform to introduce Vietnamese agricultural
products and specialties by connecting farmers and producers to consumers. FoodMap e-
commerce website specializes in providing safe agricultural products related to UFO
Technology and Trading Joint Stock Company (UFO Technology). Currently, FoodMap builds
three separate brands: Delicious Specialties (such as sugar, honey, vegetables...), Maloka (tea
and coffee), and HappyNut (nutrition nuts). Aiming at using technology to enhance the value
of Vietnamese agricultural products, FoodMap makes traceability a mandatory condition for
all producers or farmers, and at the same time makes a separate brand for agricultural
products unique, but difficult to compete in big exchanges because there is no brand
strength, but FoodMap now has a significant number of consumers and manufacturers as a
result of its ability to attract buyers and persuade sellers to become farms or producers.
Currently, the firm works with over 100 farmers and manufacturers to deliver products from
more than 20 provinces to over 5,000 end customers and merchants (startup.vnexpres,
2021).
b. Scalable Startup:

Definition: Scalable startup entrepreneurship can be defined as a business model where an
organization is started on the basis of a unique idea. It involved everything that ranges from
creating a plan to all the way up launching the business. This type of entrepreneurship
commences with a vision that they can make some changes in the world. Their investment
comes from the venture capitalist as well as by employing efficient employees. Their goal is
to find out the repeatable and scalable business model. Once they find that model, they
further started raising funds from venture capitalists for the growth of the business
(101entrepreneurship, 2019).
Link with chosen company: This is the mainstream trend that entrepreneurs and venture
capitalists are aiming for, with Google as the most particular example. The founder felt from
the start that he had a vision that could transform the world. Unlike the tiny firm described
above, the objective of a scalable startup is to create justice inside the organization, create a
company of mutual value, and have a strong footprint. They only work with the finest of the
best. Customer preferences, technological innovation, law, rivals, and other variables all
exert pressure on businesses, prompting them to develop policies, new books, new goods,
and new clients in new markets Google currently does this through purchasing smaller,
growing firms. Once they have identified a good product and business strategy, they
concentrate on expansion and seek investment funding to expedite advancement.
c. High growth firms:
Definition: “The firms experiencing this type of growth (high-growth or fast-growing firms)
are the biggest generators of new jobs that do not directly replace an old occupation. These
firms thus strengthen the business environment. High growth is an especially important topic
in Nordic countries, where a high level of employment is needed to finance the expensive
welfare state” (Schreyer, 2000).
Link with chosen company: “Unilever Vietnam has been one of the most successful foreign
investors in the Vietnamese market, growing at a faster rate than the market over the last 22
years. Unilever Vietnam was decorated by the President of Vietnam in April 2010 with the
First-Class Labor Medal for its exceptional business performance and significant contribution

to the country's socio-economic growth. Unilever announced a Sustainable Development
Plan (USLP) in 2010 with the goal of doubling growth, halving environmental impact, and
increasing positive societal effects. The Sustainable Development Plan is essential to our
business strategy, assisting enterprises and brands in growing in a sustainable manner. After
six years of executing the Sustainable Development Plan, Unilever Vietnam has achieved
remarkable results on all three major targets, earning the designation of "Sustainable
Development Enterprise" from the Vietnamese government has been at the top for two years
in a row, 2016, 2017” (Unilever, 2021).
d. Social enterprise:
Definition: “Social enterprises have been defined by the EMES Network as organizations with
an explicit aim to benefit the community, initiated by a group of citizens and in which the
material interest of capital investors is subject to limits. Social enterprises also place a high
value on their autonomy and on economic risk-taking related to ongoing socio-economic
activity” (Nyssens, 2006).
Link with chosen company: Entrepreneurs in the social sector are persons who are full of
energy and a source of energy that is equal to or greater than that of any other founder.
However, unlike expansion-oriented companies, their objective is to make the world a better
place, which is far more important than becoming wealthy. These initiatives might be non-
profit or have a modest profit margin. Koto is Vietnam's first social company, operating as a
non-profit restaurant and vocational training facility, with the goal of improving the lives of
poor children in the country. “In 1999, Mr. Jimmy started a sandwich restaurant near Hanoi's
Temple of Literature and conducted the first KOTO course with 9 street children and 2
volunteers. So far, KOTO has evolved into a social company that has fed over one million
meals from across the world. With a workforce of 110 people, 50 of them are former KOTO
students. Furthermore, KOTO presently delivers globally accredited vocational training
courses in Australia to roughly 150 disadvantaged or disadvantaged children each year”
(KOTO, 2019).

II. The similarities and differences between entrepreneurial ventures
1. The similarities
All four sorts of enterprises provide a substantial source of employment and may generate a
wide range of things of interest, with four unique corporate efforts sharing very appealing
qualities. The following is a more in-depth breakdown of their similarities:
- The first of these is Shared values are the organization's basic ideas, which are represented
in the corporate culture and shared work ethic. When the concept was initially established,
these were referred to as "senior goals." According to this notion, a firm should recognize
that shared values generate advantages that may be shared rather than focused just on social
responsibility. Furthermore, shared values incorporate a social mission into business culture,
diverting resources toward innovative growth and social problem resolution. Instead of
raising the cost of conducting business, all four types of businesses may promote innovation
by addressing society's demands and restrictions through new technology, operational
techniques, and management approaches. Everyone will be able to find better work.
FoodMap invests in branding and transparent information about food origin on the website,
including articles, images, and videos, in addition to minimizing intermediary stages by
undertaking the entire process, from purchasing goods from farmers or suppliers to
packaging, storage, transportation, and distribution... So far, “the FoodMap team has made
contact with approximately 100 farmers and producers who can assist in the creation of
farmer employment. FoodMap distributes the items wholesale in the Ho Chi Minh City
market, as well as through its website and e-commerce channel” (startup.vnexpres, 2021).
According to Google of America, “Google Cloud, its cloud storage subsidiary, is investing $100
million in Amwell (American Well), a firm that specializes in building technology for online
tests” (Hằng, 2020). Big IT companies are all competing for contracts with healthcare clients,
including insurance plans and hospitals, as they shift away from on-site visits and toward
distant visits from home. Aashima Gupta, director of global healthcare solutions at Google
Cloud, believes that telemedicine will become more popular as reimbursement rates improve
and clients become more aware of its benefits. This is a realistic alternative. Because of the
restricted number of individuals visiting hospitals and clinics owing to the COVID-19

pandemic, the usage of online examination tools has grown dramatically in recent months.
As a result, Google requires a large number of employees to satisfy the company's
development demands. A large number of people and a lot of labor are also necessary.
Unilever, a major, growing corporation that began operations in Vietnam in 1995, has
invested more than $300 million in a modern manufacturing plant in Ho Chi Minh City and
Bac Ninh province. With a focus on innovation, driving efficiency and margins, increasing
investment in digital marketing. “Unilever Vietnam has supplied direct jobs to over 1,500
individuals and over 15,000 indirect jobs to those working in third parties, suppliers, and
distributors through a network of over 150 distributors and over 300,000 retailers” (Unilever,
2021). In Vietnam, social enterprises have captured the attention of young people; currently,
more than 40% of social groups are led by young people. KOTO provided vocational training
to almost 1,000 homeless and underprivileged youngsters, who are now workers and
supervisors in a world-class hotel restaurant. KOTO is truly a location where unfulfilled
dreams of wandering and impoverished youngsters with the desire to find acceptable
vocations and careers may take flight. “Despite the fact that this social company has
graduated almost 1,000 students, the actual social contribution value of KOTO and Mr. Jimmy
is increased many times when this same set of trainees follows the KOTO training
methodology. When each graduate advances to senior positions in the hospitality sector, the
knowledge and expertise they have earned will be shared and handed on to the next
generation. Many of these young people work to support their families and communities
financially” (KOTO, 2019).
- The second component is strategy, which is an organization's plan to establish and retain a
competitive edge over its competitors, which is what every firm does, even if its goal is to
manufacture and deliver items to customers who can be or are engaged in a variety of
sectors. Initially a website centered on selling Vietnamese agricultural products, it has
progressively evolved into a diversified ecosystem encompassing sales channels,
manufacturer services, and agricultural communication. FoodMap is presently one of the
leading brands in Vietnam in the sector of agricultural e-commerce and a respected provider
of agricultural products to key partners. Foodmap.asia is an e-commerce website that sells

agricultural items that are safe. Foodmap.asia is always striving to enhance service quality in
order to provide outstanding and secure purchasing experiences for agricultural products.
Next Google, the world's leading global technological corporation. This company focuses in
delivering technological goods such as the internet, search engines, and cloud computing...
Google is one of the most costly of the world's Big Four technological businesses, drawing
millions of individuals. Currently, Google has created a plethora of services and tools for both
the general public and the corporate community. The advertising industry produces the
majority of the company's revenue, according to financial filings. This covers app sales, app
purchases, digital content items on Google, YouTube, and Android, as well as service licensing
charges. Unilever, like P&G, Nestle, Coca-Cola, and Pepsi, is one of the most well-known
global corporations in the world, including Vietnam. Unilever's numerous goods are utilized
by many domestic consumers due to their high quality and reasonable pricing in relation to
their income level. “Unilever now owns over 400 significant brands across three product
categories, including several well-known names in Vietnam such as OMO, Surf, Lux, Dove,
Hazeline, Ponds, P/S, Close Up, Vim, Cif, Sunsilk, Sunlight, etc. Unilever in Vietnam actively
contributes to social, humanitarian, and community development initiatives in addition to
good commercial operations and ongoing development” (Vinatech, 2019). The outcomes of
the social enterprise KOTO include introducing jobless people to jobs, discussing difficulties
with the underprivileged, and so on. “Raising awareness of the target population through a
series of communication initiatives executed in Ho Chi Minh City from September 2010 to the
end of December 2011, employing controlled media. aim to promote knowledge, good
sentiments, and actions regarding KOTO among the youth population aged 15 to 26 years, as
well as build public support for KOTO” (Economica, 2021).
2. The differences
Small business Scalable startup High growth firm Social enterprise
Size Small Small or medium Medium or large Small, medium or
large

Number of
employees
10 to 49
employees
50 to 249
employees
250 or more
people
Employ fewer than
250 people
Business
ownership
- Family store
- individual
- Investors
- Founders
- Co-Founders
- Enterprises
- Shareholders
- Individuals
- Enterprises
Business purpose - No specific
objective or only
one.
- Give what
customers got.
- Develops the
framework of
operations.
-Flourishment of
innovative
products.
- Sustainable
development
objective.
- Provide new
core-built
products
- Seek to earn
capital by
addressing social
and ecological
concerns.
- Provide services
or products that
support society
- Seek to earn
capital by
addressing social
and ecological
concerns
Impact on society - Helping to
respond to the
needs of
customers.
- Taxes owed
-Providing
consumers a lot of
options.
- Give innovative
products or
services.
- Taxes owed
- Customer choice
bid
- Influence on the
domestic and
international
economy
- Taxation
payment
- Solve social,
global and social
problems
Table 1 differences between entrepreneurial ventures
❖ For example, In terms of business purposes, each of the four companies does it in a
completely different way. The first is Foodmap with the specific goal of using technology to