An Analysis Report: Entrepreneurial Ventures and Business Management

This report delves into the multifaceted world of entrepreneurial ventures, examining various types such as small businesses, scalable startups, large companies, and social enterprises. It explores how these ventures align with the typology of entrepreneurship, highlighting the roles of both men and women in driving innovation and business growth. The report compares different venture types based on their definitions, objectives, characteristics, and roles, emphasizing their similarities and differences. Furthermore, it assesses the impact of small and micro businesses on economic development, focusing on employment generation, increased cash flow, and their influence on national income. The analysis includes an interpretation of relevant data and examples to illustrate how micro and macro factors shape the economy. The report concludes by underscoring the crucial role of small businesses in fostering economic growth through job creation and increased national income. The document also mentions the importance of start-ups and their support from government to establish themselves in the market.

Table of Contents
Activity 1 ...............................................................................................................................1
P1 Examine different types of entrepreneurial ventures and explain
how they relate to typology of entrepreneurship...........................................2
P2 Comparison of different types of entrepreneurial ventures................3
P3 Interpret and assessment of relevant data with examples to show
how micro and macro influence the economy..................................................5
P4 Explaining the importance of small-business in relation with the
growth of the economy...............................................................................................6
CONCLUSION........................................................................................................................7
REFERENCES........................................................................................................................8
P1 Examine different types of entrepreneurial ventures and
explain how they relate to typology of
entrepreneurship.
Entrepreneurs refers to an individual who innovate new
ideas and posses skill to implement it in reality and produce that
goods or services which are in demand. The main objective of
an entrepreneur is to achieve higher growth through earning
higher profit. Bill gates and Oprah Winfrey both were born in
October and they have worked hard to becomes the successful
and influential persons.
Entrepreneurial Venture refers to the enterprise which
are of different sizes and scopes which is owned and controlled
by an entrepreneur with a view of achieving specified objective.
There are different types of entrepreneurial ventures which are
described as-
Small business entrepreneurship- This consist of
enterprises which are controlled by a single entrepreneur at
small scale. The size and scope of this type of entrepreneurship
is limited as they are based on the industrial sector for their
revenue generation. For example, travel agents, bakery shops
etc.

Scalable start-up's entrepreneurship- This is a type of
business in which a entrepreneur create a innovative idea and go
after a existing plan and act on it. This refers to the development
of an existing enterprise and putting creative idea in it. This
result in increase scale of operation of existing enterprise.
Large company Entrepreneurship- In this type of
entrepreneurship, the operation of activities takes place at large
scale and this includes high amount of fund to run the
enterprise. This type of entrepreneurship includes regular
advancements of technology and offering new services to their
customers according to their preferences.
Social entrepreneurship- This type of business include
steeping in the market with the aim of providing innovative
goods and services to satisfy the needs of the customers and
they work with the aim of developing nations.
Typology of Entrepreneurship-
The major ideas of entrepreneurship is developed by
men but in current era, women are more in this field than men
as they possess more patience but this type of entrepreneurship
are managed and controlled by both men and women so that
they can achieve the success and growth of the enterprise.
P2 Comparison of different types of entrepreneurial ventures.
There are various types of entrepreneurial ventures such as small-
business, scalable, large and social types of entrepreneurship which have
some differences and similarities which are described as below-
Basis Small-
business
Entrepren
eurship
Scalable
entreprene
urship
Large
entreprene
urship
Social
entreprene
urship
Definition This is a
business
which
operates at
small scale
and require
low
investment.
This is a
type of
business
which has
their a new
vision to
achieve
and for this
the level of
scale of
operations
is
increased.
This is a
type of
business
which
require
huge
amount of
fund to
carry out
their day to
day
operations
at large
level.
This is a
type of
business
where an
entreprene
ur create an
idea with
the aim of
fulfilling
social
needs.

Characteristic This includes
use of limited
resources and
government
do not
interfere in
such
business(Alb
uquerqueand
et. al., 2013).
This business
has more
focused on
increasing
venture
capital so that
they can
expand it.
This type of
business
require
various
changes
according to
the changes
in need of
customers so
that they can
get higher
profitability.
This business
has proper
support from
government
as they work
for the
society.
Roles They require
limited
resources to
operate their
business.
They need
investment
for which
they require
investor so
that they can
expand their
business.
This includes
fulfilling the
needs of
customers by
making
changes in
the
technology
and other
resources.
They have
focused on
mainly
increasing the
awareness
about health
and safety.
Objective They work to
earn basic
amount for
their
livelihood.
They search
for scalable
and
repeatable
models as
their
expansion is
their main
aim.
They aim to
provide
quality
products and
services to
create the
great level of
satisfaction
among their
customers.
This has
intend to
maximise the
interest of the
society and
focusing on
the social
welfare
activities.
There are following similarities between above types of ventures are as
follows-
 These types of ventures are most commonly established in the
market and has their focus on the customer needs and wants.
 They all have focus on creating new innovative good and ideas to
fulfil the requirement of customers.
 They bring new or developed product in the market to maximise the
satisfaction level of customers which they have targeted(Atari and
Ya ghoubirad 2016).
 They are focused on getting higher growth with the available
resources within a specified period of time.

P3 Interpret and assessment of relevant data with examples to show how
micro and macro influence the economy.
Small and micro business is essential for the development of
economy as they increase the national income of the country. These
enterprises are playing an effective role in country by helping in
recovering from the major issues such as decreased national income or
inflation rate etc. These business do not get directly affected from the
major issues of the economy. There are several positive affect of the
small and micro enterprises are as follows-
 Employment generation- These business provides employment
to the persons who are not able to get job in large companies. So
they resolve the issue of unemployment as they require educated
personnel to handle the operations of their small business to get
stability for long term. This helps the economy in growing faster
which will increase the national income which reduce the
problem of unemployment.
 High cash flow- They helps in increasing the flow of cash in the
economy due to the increase in setting up of small and micro
business as they increase the monitory resources of the company.
 Increase growth- Small and micro business has
increased the job opportunities and increased the flow of
cash in the economy which result in increase in
monitory resources as well as physical resources of the
country such as infrastructure which directly increases
national income of the country. Therefore, these have
resulted in increasing growth rate of economy(Carsrud
and et. al., 2017).
Impact of small and micro enterprises on the economic
development

Interpretation-
The above figure shows that small enterprises has more benefited
the economic condition of country in comparison of the large enterprises.
The small enterprises has contributed more in the relation with employment
generation and small and micro business has contributed more in the
economy as the economy is distributed at three level stage-
 Local- At this level, the small and micro enterprises are producing
various goods and services for the nearest peoples as their family or
friends. They open a local shop for the local people of that area and
they operate their business to earn livelihood not with a motive to
generate profit.
 Regional- The small and micro enterprise operating at regional
level are focused on providing the good and services to the people
of regional level and to develop the regional economy.
 National-The small and medium enterprises is very
important for development of national economy as it
provide employment, increase production and its
contribution in export is high which benefits the
economy as income is distributed equally.
P4 Explaining the importance of small-business in relation with
the growth of the economy.
Social economy consist of different types of firms such
as sole trader, partnership or company, associations etc. The
start-up's which are included in social economy are very
essential for the growth of the economy. These Start-up's
require huge support from the government to establish their
enterprise in the market. There is a huge requirement to increase
the start-up's in the economy to achieve the higher growth in the
economy. Small and micro enterprises is able to promote the
growth of the economy as they provides large number of
employment opportunities which results in increased growth
rate. They are several benefits which are derived from the small
and micro enterprises are as follows-
 Increased job opportunities- The start-up's are the new
enterprise entered in the market and for the operations
they require human bodies who possess required skills
and knowledge and has creative mind which will
increase the growth ability of business.

 Increase awareness- The large organisations may face
any issue or challenge because of changes takes place in
economic conditions so the small enterprises which has
just started so they can increase awareness in the society
which helps them in survival. Therefore, the increase in
number of individuals will lead to increase in the sales in
the country's economy.
 Creation of Innovative products- The new enterprises
are launched by the new entrepreneurs which introduce
new product or services which is full of innovation which
help in increasing the growth of economy. This results in
increased revenues of the country and national income
increases.
 Enhancement of domestic business culture- The
economy has faces various issues such as lack of
employment opportunities, lower level of sales. In the low
situation of economy, start-up's and small companies
produce goods which are demanded by the customers and
this results in increased sales and growth of the economy.
These benefits prove that the start-up's ans small businesses
plays a very important role in the development of social economy
of U.K.
CONCLUSION
From the above it can be concluded that the small
business plays an important role in the growth of economy by
increasing the number of job opportunities and increasing
national income etc. There are various type of entrepreneurial
venture such as small, scalable and large entrepreneurial which
has different typologies. There are various differences and
similarities between the different type of entrepreneurial
venture. The development of micro and small business has a
positive impact on the social economy such as increase in cash
flow etc.

REFERENCES
Books and Journals
Al Mamun, A., and et. al., 2016. Micro-enterprise development
initiatives and entrepreneurial competencies,
innovativeness, and social capital in Malaysia. Development
in Practice. 26(8). pp.1094-1110.
Albuquerque, I., and et. al., 2013. The interplay among levels of
personality: The mediator effect of personal projects
between the Big Five and subjective well-being. Journal of
Happiness Studies. 14(1). pp.235-250.
Atari, M. and Yaghoubirad, M., 2016. The Big Five personality
dimensions and mental health: The mediating role of
alexithymia. Asian journal of psychiatry. 24. pp.59-64.
Carsrud, A., and et. al., 2017. Motivations: The entrepreneurial
mind and behavior. In Revisiting the Entrepreneurial Mind
(pp. 185-209). Springer, Cham.
Erden, H., Kaya, İ.A. and Öcal, M., 2015, July. Rural
development studies and geographical information systems.
In 2015 Fourth International Conference on Agro-
Geoinformatics (Agro-geoinformatics) (pp. 79-84). IEEE.