This report delves into the core concepts of entrepreneurship and small business management, exploring various types of entrepreneurial ventures such as lifestyle, survival, and managed growth ventures, and their relation to typologies like small business, scalable start-up, large company, and social entrepreneurship. It differentiates between social and lifestyle entrepreneurship, analyzing their similarities and differences through case studies of Elizabeth Gooch (EG Solutions) and Tom Mercer (MOMA Foods). The report further assesses the impact of small and micro businesses on the UK economy, highlighting their importance in job creation, innovation, and overall economic growth. It also examines the skills, traits, and personal backgrounds that influence entrepreneurial success, providing a comprehensive overview of the entrepreneurial landscape.