Entrepreneurship Report: Ventures, Impact, and Successful Traits

This report provides a comprehensive analysis of different types of entrepreneurial ventures, including local, global, social, scalable start-up, serial, female, and lifestyle entrepreneurship. It explores the similarities and differences between these ventures, examining their size, structure, aims, objectives, and sources of finance. The report assesses the impact of small businesses and start-ups on the economy, discussing their contributions at local, regional, national, and international levels. Furthermore, it delves into the characteristics, traits, and skills of successful entrepreneurs, exploring the motivational drivers and how backgrounds and experiences can influence entrepreneurial endeavors. The report also examines the scope, development, and growth of entrepreneurial ventures, highlighting their contributions to innovation, job creation, and economic development.

ENTREPRENEURSHIP

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Different types of entrepreneurship ventures.........................................................................1
P2) Similarities and differences between different entrepreneurial ventures..............................2
M1 Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of
entrepreneurship...........................................................................................................................3
D1 Critically examine the scope, development and growth of entrepreneurial ventures............3
TASK 2............................................................................................................................................3
P3) Ways in that micro and small business put their impact on economy..................................3
P4) How important small business and start up business can contribute their participation for
growth of social economy............................................................................................................4
M2 Evaluate the differences that small, medium and large businesses make to the economy....6
D2 Critically examine how small businesses have an impact on different levels of the
economy in a local, regional, national and international context................................................6
TASK 3............................................................................................................................................6
P5) Mini research for determines effective research for demonstrate characteristics, traits and
skills of successful entrepreneurs.................................................................................................6
P6) How entrepreneurial personality can reflect to motivation and mindset of different
employee......................................................................................................................................7
M3 Explore and examine different lines of argument relating to entrepreneurial characteristics
......................................................................................................................................................8
D3 Analyse the characteristic traits, skills and motivational drivers of successful entrepreneurs
......................................................................................................................................................8
TASK4.............................................................................................................................................8
P7 Backgrounds and experiences can hinder entrepreneurships ................................................8
CONCLUSION .............................................................................................................................10
...................................................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Entrepreneur is that person who organizes and takes all responsibilities of all business
and takes all risks with it. The entrepreneur is commonly seen as a business leader and innovator
of new ideas and business processes (Oguonu, 2015). Entrepreneurs and their skills help to
producing innovative products and services to their customers. The present report makes analysis
of different types of entrepreneurships ventures and their relation with topology and along with
this make analysis on similarities and dissimilarities in between them. The presents report make
analysis on effects of small business and start-ups on UK economy after Brexit. Moreover, the
present’s report also makes analysis on characteristics, traits and skills of a successful
entrepreneur.
TASK 1
P1. Different types of entrepreneurship ventures
Entrepreneur is that individual who start and run the business with limited resources
Through planning, taking risk and rewards for the organisation. Therefore, organisation in which
they are working is known as venture. Business is incorporated with innovation, product,
services and model of the company.
In order to make effective results, entrepreneurship is defines as the process of design,
launching and maintain creativity at workplace. In this aspect, business achieve their targets and
goals to determine effective results and performance. In this way, innovation is also takes place
which demonstrate creativity and innovation for maintains positive results and performance.
Every entrepreneur work with new skills and capacity that willingly develop operations and
organize functions to ascertain profitability (Carland Jr, Carland and Carland III, 2015). Further,
entrepreneurship is opportunities which exploit new things for making products and services.
Types of ventures
Basically four types of key ventures determines effective results which are as follows:
Local entrepreneurship
In this aspect, entrepreneurship is owned and run by local and small people who possess
quality of entrepreneur. In this different types of business includes such as local grocery retailer,
consultants and hairdressers, etc. The company can demonstrate running of their activities and
goals through hire local people at workplace. Main purpose of these types of entrepreneurship is

enhancing profits and revenue at workplace through demonstrate various activities (Schaper,
2016).
Global entrepreneurship
Global entrepreneurship is considering various activities and outcomes with run
operations at global level. In this aspect, entrepreneur can hire people who possess effective and
high quality to perform their operations at workplace. In this way, the company requires higher
capital for development of the business and its operations. Thus, profitability can be maintains
through assess customer taste and preferences. Global entrepreneurship is run in various parts of
the world through ascertain new technologies and assess competitors within the market.
Social entrepreneurship
Social entrepreneurship is runs through focus on creating more products and services
within the business environment. In this aspect, entrepreneur work through determining needs
and requirement of society which develops profitability and positive results at workplace. In
addition to this, they are also work to solve issues of society to build profitability and outcomes
at workplace. With the help of different activities, the company can easily deal with positive and
effective results.
Scalable start up entrepreneurship
Scalable start up entrepreneurship has motive to make innovation through they will easily
change whole world. In this aspect, goals and objectives are ascertains through entitle skilled
employee at workplace. Thus, the company can easily make profits and revenue at high level to
determines effective results and performances. There are various elements which describes
vision to maintain innovation and advance technology (Schaper, 2016). Start-up Company is
another important entrepreneurial venture which emerged in new and fast growing business.
Which has aims to meet with goals and targets of market. In this way, their typology is to
develop and offer innovative products, process and services within the market. Serial entrepreneur: In this aspect, serial entrepreneurs refers to the start and lead the
one business after another. They are also refers to multiple enterprises at same time
which assist to make and run day to day operations. For instance, Martin Riddiford and
Jim Reeves are entrepreneur of UK to established gravity light with solar energy. They
have continuous working for entrepreneurship through different elements.

 Social entrepreneur: Mainly these types of entrepreneur working for enhance outcomes
in society. Hence, they are dealing with innovative solution towards pressing social
problems. Main ambitious and typology of them is to offers new ideas and wide scale of
changes regarding social issues. Michael Young is the example of social
entrepreneurship in UK market. Female entrepreneur: In addition to this, at global level entrepreneurs are determines
their creativity for create brand image of particular country and business. As results, it
assists to enhance performances and outcomes of the enterprise outside the boundaries.
For example Gisele Bundchen is woman entrepreneur in the world. She is working for
natural skincare venture. Lifestyle entrepreneur: This type of entrepreneur has focus on development of the
organisation through handle risk and obtain risk element.
 Global entrepreneur: This entrepreneurship is based on knowledge and information of
local areas for create innovation for economy development. This type of entrepreneurship
has effective results within the economy because it assists to enhance results within the
nation. In this way, female entrepreneurs are working very well for establish effective
results with friendly environment.
P2. Similarities and differences between different entrepreneurial ventures
In order to find differences and similarities, following elements are included in different
entrepreneurial ventures: Size and structure: In this way, it has been analysed that small size enterprise is
considered as essential element to meet with needs and requirement of customers. SME
need to provide unique quality goods so that they will easily enhance more customer
within the business environment. With the help of innovative ideas and concept, success
is develops for start-up entrepreneurship venture. Size and structure is not major factor
because initial start-up required innovative ideas to start a venture. Aims and objectives: It is another differences which lies in aims and objectives of various
entrepreneurial ventures. With the help of entrepreneurship ventures, it is important to
arrange funds to expand business in new areas. Therefore, it could be assesses that
similarities and differences in term of objectives of quality towards customers.

 Sources of finance: It is another type of element that assist to obtain finance in different
types of entrepreneurship. Hence, it is important arrange fund to expansion of business in
effective manner. Social entrepreneurs is main focuses on welfare of society not earn
profits. Similarity is that they are also determines unique features and concept to achieve
desire results.
Lifestyle venture or similarities in
businesses
Serial entrepreneurs ventures similarities
Human resource management requires recruit
skilled employees within the organisation.
In this aspect, also human resources needed to
recruit for enhancing productivity of company.
These types of entrepreneurship have capacity
to take risk within the firm.
They have also capacity to undertake risk for
solving issue.
Innovative features are develops for future
enhancement and effective results as well.
In serial entrepreneur, innovative and creativity
qualities exist that assist to meet with
requirement of particular person.
Differences Differences
Lifestyle of entrepreneurs have more focus on
their rewards in life through by providing
people to enjoy passion for everything which
they are doing.
However, serial entrepreneurs have focuses on
strategies and ideas that help to incorporate
new company. In this way, they are also played
vital role to make regular functions in new
company.
Female entrepreneur business similarities Male entrepreneur business similarities
Generally, female are looks towards expansion
of the company in international market for
enhance profits and revenue.
They are also like to expand business in
various areas of international market to
accomplish desire results at workplace.
Less turnover out of 100 million but not more
than 50 million.
Less turnover out of 100 million but not more
than 50 million.
Differences Differences

Entrepreneurs are female candidates. Entrepreneurs are male candidates.
They are take place generally 1/3rd of total
entrepreneurs in international market.
Male entrepreneurs are higher than the female
candidates in the international areas.
There are different types of similarities and differences are take place among various
entrepreneurial ventures. Therefore, ventures are established that are beneficial to enable
development and growth of economy within the nation. In this way, local entrepreneurship,
global firms and social businesses are take place for demonstrate innovation and creativity at
workplace. All these ventures are work for such purposes like long term profitability, positive
outcomes, more earning and many more things. In this way, they all are also possesses effective
role for ensure long term targets and goals at workplace. In this aspect, earning more profits is
motive of each entrepreneur at workplace (Carland Jr, Carland and Carland III, 2015).
On the other hand, there are various dissimilarities take place within different
entrepreneurship. Local business possesses their roles to determine more fund to regulate
different elements at workplace. In this aspect, they are also focusing on raising more money
with effective results and performances. Apart from this, at global level, the entrepreneurship
requires more capital to introduced effective results and performances at workplace. Beside this,
social entrepreneur are working for development of society which enhance profitability and
positive outcomes at workplace. In this way, government agencies frame entrepreneurship
programs which solves business issues to solve problems at international level. In this aspect,
goals and objectives are ascertains for determining effective results and performances.
In addition to this, there are also different elements are take place which shows
distinctive contribution within the country economy. It leads to protect the business environment
through introduce creativity and innovations at workplace. Thus, goals and objectives are
ascertains for earning more profits and revenue. In this way, the organisation has main aim to
develop international brand which focusing on earning more profits and revenue (Schaper,
2016).

M1. Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of
entrepreneurship
All these entrepreneurship are related with typology to ascertain different types of
connection at workplace. In this way, local business run for earn more profits and global focus
on provides products and services at international level. It is also possesses qualitative elements
for get higher return and profitability at workplace.
D1. Critically examine the scope, development and growth of entrepreneurial ventures.
In addition to this, there are also different elements are take place which shows distinctive
contribution within the country economy. It leads to protect the business environment through
introduce creativity and innovations at workplace. Thus, goals and objectives are ascertains for
earning more profits and revenue. In this way, the organisation has main aim to develop
international brand which focusing on earning more profits and revenue (Carland Jr, Carland and
Carland III, 2015).
TASK 2
P3. Assess and interpret relevant data and statistics in your mini-research, to illustrate how micro
and small businesses impact on the economy
Micro businesses: Micro businesses conduct their operations at very small scale. In this
type of enterprise generally not more than nine employees are working at workplace. In order to
work with small size of entrepreneurship, there are various principles need to be taken such as
record every expenses, maintain and keep each month's profit or loss, write down agreements
and simple structure to be made.
Small size business: Small size of businesses are privately owned corporations that are
working with fewer employees with less annual income. In this type of enterprise are classified
in term of methods such as annual revenues, shipments, sales and assets. Hence, annual gross or
net revenue has been increase with effective measurement.
Medium size business: Medium size businesses are working with 100 to 999 employees
within the all over the market. This type of businesses are working with driven innovation and
competition in different economic sectors. As results, the company can gain effective results
through setting targets and goals.

Privately held businesses are generally working with mean in which ownership shares
and interest are not traded publicly. In this aspect, privately held company founded in small
group of investors for enhance profitability and results in specific aspect. As results, targets will
be accomplish through demonstrate outcomes and results in effective manner. On the other hand,
sole proprietorship enterprises are working with income and losses that are taxed on individual
personal income tax return. It is the simplest type of business which can be form under one
enterprise. It is not legal entity so that it includes person who owns the business and it is also
personally responsible for their debts.
Partnership organisations are legal firm which operates by two or more than two people
who are share profits and management. There are several types of partnership working in which
two are most common such as general and limited partnership. Further, in partnership and sole
proprietorship require less paper work and fewer formalities for comparing with another
businesses.
It can be determines that micro and small business create huge impact on economy which
is essential for the organisation to contributes for growth of the nation. It will assist to the
organisation that creates opportunity to enhance profitability and positive outcomes. Due to
decline in UK economy, it affects to SME so that it is main element which creates impact on
operations. Following are certain impact on SME: Contributing through unemployment: It is the main element which make strength in
SME that assist to employing more people within the business environment. Therefore,
there are various people got employment because of operating by small scale enterprises.
On the other hand, big businesses are also providing more people within the environment
as compared to SME. Hence, employment rate make effective impact on economy in
order to contribute GDP within the nation. For example, in the year of 2014, UK has
more than 5.2 million SME their existing market. Economic impact: Further, it has been analysis that SME also play significant role which
create impact on business performances. Therefore, it is very important to enhance
economic growth of nation. In respect to carry innovations within the enterprise, firm is
growing very more which easily complete the results of enterprise. Flexibility with changing scenario: In this, it has been assessed that in UK economic
stability continuous fluctuate with changes in environment that assist to accomplish

desired results. However, within the micro, macro and small businesses carries functions
and operations to develop positive results. At time of recession, SME obtains capability
to earn high profit and stability within the economy.
 Revenue of sector: In order to review UK economy, it assists to identify growth of the
company which shows effective revenue and enhance outcomes of the enterprise.
Recently, it has been analysis that there is more than 46% revenue generated by SME
sector. Further, large firms also requires high investment which could be affect to
working conditions of company.
In order to achieve goals and objectives, ventures started selling their products and
services with developing market areas and target customer. In this aspect, micro and small
business promote to success through ensure growth of the country. With the help of micro and
small business, the country can grow their results and performance through enhance money and
other resources. It determines short term benefits at workplace for development of the business
operations in systematic way. In addition to this, it is also demonstrates employment
opportunities which require perform different functions and operations at workplace. Long and
short term benefits are created stimulating to small and medium firms which analysis
performance and results at workplace through operating various activities.
In addition to this, small business get chance to enhance their outcomes and performance
at workplace through creates growth and profitability at workplace. In this aspect, growth of the
country is stimulating with effective investment and it done through business operations of the
company. Thus, the country can easily develop their outcomes and performance which requires
initial public offering. There are various elements which need to be taken at workplace. Small
scale business contributes their participation through focusing on mobilization of resources and
investment facilities at workplace. Thus, it determines effective opportunities for deliver positive
outcomes and performance at workplace. Further, it also creates innovative ideas that assist to
make positive impact on firm and its operations.
Higher productivity
In order to determines effective results and performances, entrepreneurship programs
assist to enhance productivity at workplace. In this aspect, business will easily achieve high
market share and profits at workplace (Fayolle, 2013). With the help of effective business
programs, small enterprise can easily enhance their income and revenue through making

profitability and achieve common goals and objectives. In order to make effective results,
business will promote their functions and operation at different level.
Reduce unemployment
With the help of small business enterprise, entrepreneurship will creates employment at
workplace. In this way, various people are recruited for developing results and performances
within the organisation. This is because; new business requires more employees to operate
functions and operations (Brown, 2016). It assist to reduce unemployment within the country to
make effective results and performances.
P4. Explaining how important small businesses and business start –ups will contribute to the
growth of the social economy after ‘Brexit’
Small businesses
BREXIT is defines as the element which out UK from EU. Therefore, it will influence to
enterprise as they can work very well within the business environment. In addition to this, it has
been analysed that for SME it becomes difficult to carry out their business operations within the
market. Main issue which face by businesses is to become trade out of the national boundaries.
Hence, it is difficult to compare performances of one business to another organisation. This is
because, EU permit to the company to trade across the national boundaries in effective manner.
Main differences are taken in SME and start up is that small enterprise already well developed
and established at small scale. However, start-up businesses are working to grow economy
within the national boundaries (Carraher and Paridon, 2015).
Start-up businesses
BREXIT is also helpful to enhance economy of the country which assist to reduce
poverty, employment, high wealth generating and many other elements. In addition to this, it is
also assists to provide revenue to government through foreign exchange can be enhance at
workplace. It will be profitable to develop results and performances in successful manner.
Thereafter, performance will be improves in market which assist to make effective results to
accomplish desire results. It creates growth of the economy in successful manner to expand
business operations in further areas. In order to start-up business and SME process, there are
great differences taken in term of social development results. With the help of social innovations,
employment opportunities could be expand in different areas of international market (Carland Jr,
Carland and Carland III, 2015).

There are several importances need to be determines with the help of EU:
Importance for other parts of world
In order to make effective results, EU is very important to operate functions and
operations in various parts of international areas.
Economic development
EU provides opportunity to enhance productivity and growth of country that assist to
meet with targets and goals in effective manner. As results, profitability will be accomplish
easily.
Reduction in poverty, wealth distribution, employment, provision infrastructure
EU encourages people and enhance employment opportunity so that there are several
advantages includes. In this way, poverty is reduces due to employment, wealth distribution in
enhance and provision also make effectively.
More revenue to government
With EU regulations, government of the nation has benefit to enhance results in effective
manner. As results, revenue will be increase within the enterprise.
Improvement in UK economic growth
When employment opportunities are expanded and poverty reduce, economy growth will
be enhance effectively within the market.
Improvement in social security
Social security also manage within the business environment of UK that assist to create
positive result.
Improves UK international trading
In this way, UK can make their relations with another international market with trading
effectively.
Brexit is creates major issue on economy of the country and business performance. After
this, many businesses have focuses on establishment of different aspect which beneficial to
ascertain profitability at workplace. They are contributes major part to ascertain effective
performance and objectives within the enterprise so that they will easily meet with local people
requirement and positive results. Therefore, various significances takes place which measure
performance and outcomes that are as follows:
Small amount to operate functions and operations: