Exploring SMEs and Intrapreneurship Impact on the UK Economy

This report provides an overview of entrepreneurial ventures, defining Small and Medium Enterprises (SMEs) and assessing their impact on the UK economy, highlighting their role in revenue generation, employment, and innovation. It also explores the concept of intrapreneurship, providing examples and analyzing its importance in both public and corporate organizations, emphasizing how it fosters innovation and entrepreneurial skills within established firms. The report concludes that SMEs are crucial for enhancing the revenue and popularity of larger entities, while intrapreneurship allows organizations to leverage the entrepreneurial skills of their employees. Recommendations suggest that large entities should support SMEs to sustain performance and that intrapreneurship can help meet customer needs effectively. The report references several academic papers to support its analysis.

Entrepreneurial
Ventures

Introduction
The entrepreneurial venture is basically defined as
organization that places opportunism and innovation at its
heart to generate social and economic values effectively. In
this type of organization management or entrepreneur is
highly focused on the needs and desires of customers in
innovative manner. It is very essential that the individual has
the ability or characteristics for identifying the new solutions
and ways which leads to develop difference in society.

Define SMEs with examples
The SME’s stands for small and medium enterprises.
The small and medium enterprise is a convenient
term for segmenting businesses and various firms.
Examples of small business are Tuition centres,
photography, Khadi , small scale manufacturing
industries etc. The examples of medium enterprises
are furniture industry, LED light manufacturing,
leather product manufacturing etc.

Define SMEs with examples
The examples of medium enterprises are
furniture industry, LED light manufacturing,
leather product manufacturing etc. The main
objectives or role of small and medium
enterprise is to facilitate high quality goods to
users and also maintain positive relations with
big entities for long time.

Assess the impact of SMEs on the UK
Economy
Due to the effective activities of small and medium
enterprises revenue of the big entities and employment
rate are highly increased in low time. Due to the
growth in revenue organization is able to diversify their
product are wide range which leads to fulfil the need of
customers in time. With help of high employment rate
small and medium companies are able to deliver their
quality goods to users for long time

Assess the impact of SMEs on the UK
Economy
The small and medium enterprises shows the
focus on the assistance of innovative goods to
gain customer attraction and also for
improvement which facilitates new
opportunities and growth for business.

Explain intrapreneurship and provide some
examples of intrapreneurship
The intrapreneurship is acting just like an
entrepreneur within established firm and little
bit different from entrepreneurship. In
intrapreneurship the individual creates new
venture or business within a company.
Sometimes that business is converted into
new department or section or even a
subsidiary spinoff.

Explain intrapreneurship and provide some
examples of intrapreneurship
For example, an intrapreneurship may require an
employee to research and recommend a more
efficient workflow chart to a company’s
brand within a target group or implement a way to
benefit company culture. Some companies which
are comes under the category of intrapreneurship
are ITC India, Infosys technology, Google, SAP
Lab India and others.

Analyze the importance of intrapreneurship in
both public and corporate organizations
Here intrapreneurship is depend on the leader
within public sector in form of national and
local government or the foreign company that
permits harness in terms of management. It is
depend on the social intrapreneurship and
social innovation.

Analyze the importance of intrapreneurship
in both public and corporate organizations
An interapreneurship develops an
entrepreneurial atmosphere with help of
permitting workers to utilize their
entrepreneurial skills for receiving the
advantage of both employee and
organization.

Conclusion
From the above analysis it is understood that small and medium enterprises play the crucial role
for enhancing the revenue and popularity of big entities in market. Because they are highly
essential for enhancing the awareness of big brands in minds of customers effectively and
attracted them in large number. The report will covers define SME’s with examples, access the
impact of SME’s on UK economy, explain intrapreneurship and provide some examples of
intrapreneurship. It further covers analyse the importance of intrapreneurship in both corporate
and public organizations. Due to providing best quality services and goods to users small and
medium firms are able to expand their activities in large scale in different locations.

Recommendations
From the above analysis it is understood that big entities must maintain small and meium
enterprises which leads to sustain their performance at maximum level for long time. With help of
interapreneurship the needs and wants of users in time. The small scale business is defined as those
company who utilized their resources in limited manner. It is well determined that there are more
than 4.5 million that is based on the SME which is developed throughout the Europe that is well
show the context which is show provide the data which is around 99 percent are having the great
contribution to the GDP of UK. In this, they also show the corporation which is 96 percent which is
only making the new joining which is 9 and less which is based on the individual which provide the
33 percent of the occupation while 22 percent of the total turnover.

References
 Eze, S.C.,et.al, 2018. Key success factors influencing SME managers’ information
behaviour on emerging ICT (EICT) adoption decision-making in UK SMEs. The
Bottom Line.
 Choudhary, S.,et.al, 2019. An integrated lean and green approach for improving
sustainability performance: a case study of a packaging manufacturing SME in the
UK. Production planning & control, 30(5-6), pp.353-368.
 Ko, W.W.J.,et.al, 2018. External supply chain flexibility and product innovation
performance: A study of small-and medium-sized UK-based
manufacturers. European Journal of Marketing, 52(9/10), pp.1981-2004.

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