Entrepreneurship Report: Venture Types, Skills & Economic Impact

This report provides a comprehensive analysis of entrepreneurship and small business management, focusing on different types of entrepreneurial ventures and their association with topology entrepreneurship. It examines the similarities and differences among various entrepreneurial ventures, including small business entrepreneurship, scalable start-up entrepreneurship, large company entrepreneurship, and social entrepreneurship. The report interprets relevant data and statistics to determine the impact of micro and small businesses on the economy, highlighting their importance and contribution to economic growth, particularly in the UK. Furthermore, it discusses the characteristic traits and skills of entrepreneurs, aspects of entrepreneurship personality, and how background and experience can foster entrepreneurship. The report concludes by emphasizing the significance of entrepreneurship in driving innovation, creating employment, and contributing to overall economic development.

Entrepreneurship and
small business
management

Table of Contents
Entrepreneurship and small business management........................................................................1
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
P1 Different types of entrepreneurial ventures and how it associated with typology
entrepreneurship..........................................................................................................................3
P2 Examine similarity and difference among entrepreneurship venture.....................................4
P3 The overall interpretation in terms of relevant data and statistic in order to determine micro
and small business that impact upon economy............................................................................6
P4 Importance of small business along with business towards growth of economy...................7
P5 Characteristic trait and skill of entrepreneur..........................................................................8
P6 Aspect of entrepreneurship personality..................................................................................8
P7 Background and experience can foster entrepreneurship.......................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
The entrepreneurship is one the effective methodology that is essential for establishing
business set up in order to consider several kinds of risk associated as financial and managerial.
The venture entrepreneurship consists of various type of ownership that is differently structure
along with entrepreneurs. The process of entrepreneurship will lead to generate some kind of
influencing opportunity through monetary and non-monetary kind of business. It will require
some kind of investment to employee fresh talent in relation or association towards topology
entrepreneurship (Akpan, 2020). This is essential to need as per certain kind of skill as well as
characteristics towards development with reference to management of business. This experience
is highly personalized background towards the effect of diverse in terms of entrepreneurship
which can easily foster and terms as hindrance in business. The report highlights some focus
upon various types of venture entrepreneurship towards economy effect. Along with this it skill,
mindset which is essential towards business set up in order to elaborate in different kinds of
several ways through effective experience in context of personal background that can affect any
kind of start-up business.
MAIN BODY
P1 Different types of entrepreneurial ventures and how it associated with typology
entrepreneurship
The topology of entrepreneurship- Here the lifestyle is totally depend upon entrepreneur
with growth of the firm that consist of two types of entrepreneurship entity that is highly
available in modern era. The lifestyle kind of entrepreneurship is mainly connected with business
which entrepreneur towards business advance within minimum range amount where funds will
be availed with proper funding of people that is highly working to improve their life. This will
consult level of business in context of business (Brush and et.al., 2019). The overall growth will
leads to enhance premium level through topology. Entrepreneurship leads to define overall
designing to access monitoring leads to continuing performance of the business. This will small
entrepreneurship owners will generally optimise the level of risk to develop more profits. This
will construct overall leading business generation risk that is highly associated with the leading
indicator. In others words entrepreneurship is also refers as small kind of business.
Various kind of entrepreneurial ventures types is mention below-

Small business entrepreneurship- This type of start-up business that can be executed
while running owner through number of employees that act as very low. Apart from this revenue
creation is much concerned within organisations through continuous Focus in order to attract
more clients as well as growth in terms of product and service (Dana, 2017). As this business can
be executed or running the operation in terms of family members along with partner and friends.
This is much related with small business that is highly associated in order to deliver some
innovation or creation products and services in context of its growth and exponentially.
Scalable start up entrepreneurship- This kind of business concerned with start-up
business through innovation along with idea so as to consider proper focus while providing some
aspects product and service through point of Starting. This kind of entrepreneur mainly believe
the idea generation that can easily change the world through the process of investment into
capitalist venture. The organisation will look into it optimum brightest through the mind within
the business and it will tend to establish through scalable model of business.
Large company entrepreneurship- The biggest entity consists of finite terms of life cycle
in order to consider and deliver some exclusive products and services towards consumer so that
they will remain more sustainability as well as longevity in business. The overall demand toward
consumer in terms trends into changing through eventually with reference towards competition.
The legislation toward force biggest company in context disruptive innovation that will develop
exclusive product range through entire market range (Dana, 2018). The largest scale or size
within company made towards disruptive in terms of innovation difficult.
Social entrepreneurship- The type of entrepreneurship that focus in order to solve several
aspects social issues by conducting range of services and products. The company aims to
develop better world through effect of hybrid, profit and non-profit.
P2 Examine similarity and difference among entrepreneurship venture
Various difference and similarity among entrepreneurship venture that is mention below-
Factor Small business
entrepreneurship
Scalable start up
entrepreneurship
Large company
entrepreneurship
Social
entrepreneurship
Goals and
objective
This type of
organisation is
highly or might
not have some
The business
objective deliver
some aspect of
innovation product
The entity object
towards more
sustainable
towards marketing
Here in this
company will
goal towards
delivering high

kind of structure
objective towards
working that will
achieve lesser
profitability in
terms of growth.
that will constantly
will receive higher
amount of high
profitability in
terms of investor.
in order to develop
new kind of
services or product
towards optimum
strategy of
marketing.
quality range or
good and
services through
which they can
make most
approach and
place.
Risk The risk is totally
associated with
lower kind of
competition in
terms of high
valuable source
and size towards
organisation
(Donckels, 2019).
Here the risk is too
high with
reference to higher
amount towards
some financial
investment in
order to generate
pressure with
return of amount
through proper
investment in
order to receive
same amount of
volume in context
of sale.
Here risk are
termed as medium
due to large
investment in
business that may
be often handle to
facilitate high
range of sell and
also update brand
name of the
company.
In this risk are
not that much
associated in
higher terms as
due to full on
support to
business that
may often
connected with
public in order
to accomplish
vision of the
company.
Employee
number
In this there are
only 50 employee
are performing
work operations.
This depend upon
total structure as
well as size of the
entity (Julien,
2018).
Employee are
highly and
included more
than 1000.
This will depend
upon size
towards
perspective of
business.
Structure There is no proper
arrangement
within
organisational
It is mainly
concerned with
proper corporation
towards limited in
In organisational
structure is highly
linked with proper
complex that may
This is mainly
linked with
trustee which is
highly based

structure in order
to run some
context of sole
proprietorship
towards
partnership.
respect of
partnership.
be term as
company of public
and private
company.
upon
organisation.
P3 The overall interpretation in terms of relevant data and statistic in order to determine micro
and small business that impact upon economy
In each industry there are some points such as micro, small kind of business is highly capture in
part that will optimum contribute some extend of country economy level (Laukkanen, 2018).
There are large number in context of micro and small will leads to enhance towards over time so
that it will develop in times of overtime from source of providing some specific kind of goods
and services with perspective of consumer range.
In parts of UK, here some type of small business will cover some range of different types of
industry that covers more percent approx. 4.5 million in terms of SME that is highly established
in terms of United Kingdom that is near about 99% in terms of business towards country
specific. The ultimate revenue will lead to develop by the business perspective that will
contribute higher amount of GDP in parts of UK (McKenzie, 2021). In the context of business. It
has been analysing that 96% are ready to be consider some kind of micro business in order to

employee up to 0-9 people. This business is closely related up to 33% in terms of employment
that is near about in terms of 22 % respect of total revenue.
As per this graph high number of small as well as micro kind of business in terms of high and
medium kind of business towards parts of UK. Here the small and micro kind of business will
lead to earn some kind of 37 % towards turnover will provide approx. 48 % in terms of
employability towards UK parts.
Small as well as micro business in terms to higher category with reference towards parts of
innovator along with innovator through condition of exporter and non-exporter. The business is
highly development towards revenue with aspect of innovation. This type of exporter range of
goods and services in respect of foreign currencies that will strengthen UK economy.

P4 Importance of small business along with business towards growth of economy
In context to maintain overall growth in context of social economy toward start up
business that will reflect upon high influence to range of various countries. Here the start-up
business leads to counter some extend to spread aspect of innovation and idea generation in
reference to good or service (McKeown, 2017). It will require to meet some certain level of
requirement towards consumer comparatively with context of business. As a result, some point
starts up business will leads to capture or engagement entire market place with very fasting so
that it can be easily manage in order to high level of revenue in order to fulfil short period of
span. In reference to process, business require to deliver high level of business tax that is
essential for optimum growth in country. Here in business this will extend running business
market, it will start up that will appoint some reduction in terms of unemployment within
country. It will contribute start up that cannot deliver through higher scale of salary towards
perspective of employees in order to insufficiency term of capital which is essential to appoint
high level of skilled and qualified employees. It will aid to deliver some decreasing point of
unemployment problem. Many kinds of start-up are highly connected through various stages in
terms of csr activities which is most connected through social, economic and environmental
problems to boost overall brand value image of company (Pham, 2018). In this context as per
procedure it will reflect upon business model that will ultimately educate some kind of
employees in context of rural region. This will reflect upon some area of poor financial
background. Here the concerned people must utilise some source of education towards future
generations that will leads to getting work done which is useful in terms of economic growth. As
per this reference, it conducts some higher amount of start-up throughout business that is highly
established in several kinds within specific industry in context of UK. This is highly contributing
towards overall GDP context of country.
P5 Characteristic trait and skill of entrepreneur
Several characteristics consist of traits and skill that is significant in terms of entrepreneur
established for successful business. It will boost the range of growth and development. With
reference towards business establishments towards several procedure with perspective that need
to be considered towards perspective of entrepreneur. The overall need is to be accomplished
some consider towards entrepreneur as it will satisfy completed handle with insufficient funds

and capital (Pisani and et.al., 2017). The range of personal characteristics with entrepreneurs that
is mention below-
 Ability to develop more generation of idea formation.
 Capacity to deal with high risk.
 Conduct of fulfilment of visions and goals.
 Comply more motivation toward higher achievement of overall goal.
 Proper management of skills with Reference to resources, human resource, and finance.
Ultimate personal skill within entrepreneurship that is mentioned bellow-
 Skill of communication is highly required in order to interact optimum level of people
like wise supplier, distributors, employees and clients.
 The overall skills of leadership that is essential to show some generation of path towards
perspective of employees in order to receive goal.
 The overall negotiation kind of skill which is essential for employee toward client so that
it can easily mitigate some internal issues.
 Skill of time management is most significant in accomplishing of overall task with proper
timing that will achieve proper success.
P6 Aspect of entrepreneurship personality
The entrepreneur personality is mainly concerned with overall individuality towards
essence in terms of business establishments. This is highly motivated in order to deal some
several aspects in terms of differential issue through which risk is highly associated. Personality
of entrepreneurial will High motivated in terms of several problems that is connected with high
risk connected (Runyan, 2019). It consists of highly characteristics in which individual will
generate optimum high level of idea in order to implement some high level of revenue. There
idea generation will lead to proper requirement in fulfilling overall demand with custom in terms
of entrepreneur which is highly linked through continuous development with proper idea of
sustainability. Entrepreneur required some effective ability which will counter some risk through
optimum use of resources. Here the business is deal with very carefully. The overall need is need
to be established certain amount of goal with appropriate functioning mission and vision of

company. This will ensure proper creation towards achievement of strategy. Here it is essential
need to recognise every opportunity towards the extend of sales and revenue level. This will need
to recognise self-aspect of motivation while executing business operation on order to balance
overall risk management. This mind set will manage overall achievement of goal in regular and
continuous format.
P7 Background and experience can foster entrepreneurship
Personal background will lead to enhance overall experience through higher effect towards
business that will foster hinder towards perspective of business within entrepreneurship. The
overall personal background that consists in order to support from friends, family, financial
background and motivation (Umar, 2018). This procedure in terms of that will correct proper
support in order towards friends as well as family. This will be highly motivated in order to
establish business. This will support in Order to encourage overall motivation toward risk
assessment through ability which will foster some point of entrepreneurship. The background of
finance that will influence overall risk ability from the individual kind of start-up business. The
proper support in terms of family as well as friends that will lead to individuals which becomes
some demotivates in terms entrepreneurship.
The personal experience will lead to influence toward entrepreneurship. The overall experience
is one kind good in terms to continue through proper business with longer period of time. It will
become more motivation to established in terms of business. However, the experience will lead
to connect not in terms of good it will lead to might in order to afraid some set up established
business.
CONCLUSION
From the above report it has been analysed that start up business has contained of several
sources and type in terms of small, micro, medium, as well as large businesses. Small business
will lead to capture large number of each industry that will highly contribution towards economy
in country respective. Entrepreneur will lead to require higher level of certain level of skill will
fulfilment toward mindset in order setup while executing business performance while
considering several levels of different skills set of risk. The optimum level of entrepreneur
personality reflects its own mindset that is essential for overall growth that will illustrate proper
mindset to accomplish objective of company. It will lead to boost the optimum level of economy

This will undertake some point of undertaking through high level of business activity because
generate employment opportunity.

REFERENCES
Book and journal;
Akpan, I.J., 2020. Scientometric evaluation and visual analytics of the scientific literature
production on entrepreneurship, small business ventures, and innovation. Journal of Small
Business & Entrepreneurship, pp.1-29.
Brush, C and et.al., 2019. A gendered look at entrepreneurship ecosystems. Small Business
Economics, 53(2), pp.393-408.
Dana, L.P., 2017. International entrepreneurship research: how it evolved and directions for the
future. International Journal of Entrepreneurship and Small Business, 30(4), pp.477-489.
Dana, L.P., 2018. ENTREPRENEURSHIP & SMALL BUSINESS.
Donckels, R. and Miettinen, A., 2019. Entrepreneurship and SME research: on its way to the
next millennium. Routledge.
Julien, P.A. ed., 2018. The state of the art in small business and entrepreneurship. Routledge.
Laukkanen, M. and Tornikoski, E.T., 2018. Causal mapping small business advisors’ belief
systems: A case of entrepreneurship policy research. International Journal of Entrepreneurial
Behavior & Research.
McKenzie, D., 2021. Small business training to improve management practices in developing
countries: re-assessing the evidence for ‘training doesn’t work’. Oxford Review of Economic
Policy, 37(2), pp.276-301.
McKeown, T., 2017. From entrepreneurship to small-to-medium enterprises: Exploring the
challenge and the opportunities. Journal of Management & Organization, 23(2), pp.165-166.
Pham, D., 2018. Contemporary issues in entrepreneurship research volume 7: Entrepreneurship
education: New perspectives on research, policy & practice. International Journal of
Entrepreneurial Behavior & Research.
Pisani, M.J and et.al., 2017. Small business enterprises and Latino entrepreneurship: An enclave
or mainstream activity in South Texas?. Journal of International Entrepreneurship, 15(3), pp.295-
323.
Runyan, R.C. and Covin, J.G., 2019. Small business orientation: A construct
proposal. Entrepreneurship Theory and Practice, 43(3), pp.529-552.
Umar, A., Sasongko, A.H. and Aguzman, G., 2018. Business model canvas as a solution for
competing strategy of small business in Indonesia. International Journal of
Entrepreneurship, 22(1), pp.1-9.