UK Entrepreneurs: Managing Brexit, Petroleum Deficiency, and Costs

This report investigates the strategies employed by small entrepreneurs in the UK to manage challenges such as Brexit and petroleum deficiency and cost. The research aims to identify the specific issues these factors pose to small businesses, explore the strategies used to manage these issues, and examine the benefits of entrepreneurship and leadership in effectively navigating these challenges. Using a positivism research philosophy, a deductive approach, and a quantitative survey strategy, data is collected through questionnaires from five small entrepreneurs in the UK. The expected outcome is to provide insights into effective strategies and the role of entrepreneurial leadership in mitigating the adverse effects of Brexit and petroleum-related issues, offering valuable information for entrepreneurs to improve their business performance. Desklib provides access to this assignment and a wealth of study resources for students.

To investigate the ways used for managing serious
issues such as Brexit and petroleum deficiency and
cost: A study on small entrepreneurs of UK

Table of Contents
• Introduction
• Research aim and objectives
• Research questions
• Strategies and change management
• Entrepreneurship and leadership of business
ventures
• Importance of the research
• Proposed Methodology
• Questions
• My expectations
• Potential outcomes
• Conceptual map
• Gantt chart
• Risk register

INTRODUCTION
• Entrepreneurship can be defined as the process of starting a new business with
a tendency to create their own venture.
• The person who run their own business is known as entrepreneur.
• The small entrepreneurs in UK has faces serval issue with the call off of
Brexit agreement.

RESEARCH AIM, OBJECTIVES
Research aim:
“To investigate the ways used for managing serious issues such as Brexit and petroleum deficiency and cost: A study on small
entrepreneurs of UK”.
Research objectives:
• To determine the issues of Brexit and petroleum deficiency and cost on small entrepreneurs of UK
• To identify the ways or strategies that small entrepreneurs of UK used for managing above mentioned all serious issues
• To examine the benefits of entrepreneurship and leadership for small entrepreneurs of UK while managing all issues
effectively.

RESEARCH QUESTIONS
• What are the issues of Brexit and petroleum deficiency and cost on small
entrepreneurs of UK?
• What are the ways or strategies that small entrepreneurs of UK used for managing
above mentioned all serious issues?
• What is the benefits of entrepreneurship and leadership for small entrepreneurs of
UK while managing all issues effectively?

Strategies and change management
• Change management is defined as the effective methods and manners in which
an organisation describes as well as develop chances in both its external and
internal process.
• As per the view of (Chenli, Bannerman and Abrokwah, 2021), there are so
many issue which were faced by the small entrepreneurs of UK due to the
withdrawal of Brexit agreement, petroleum deficiency and cost.

Entrepreneurship and leadership of business
ventures
• As per the view of Kolb (2020), small entrepreneurs can effectively manage
their issue and can gain benefits with the help of entrepreneurship and
leadership.
• Entrepreneurial leadership is the concept through which companies can make
strategic planning for the risk, dynamic and change that occur so that quick
decision can be made.

Importance of the research
• This research is important and significant for entrepreneurs by reducing
the issue of Brexit and petroleum on their business operations.
• This research helps them by providing accurate information regarding the
benefits of entrepreneurship and leadership in managing business
performance.

PROPOSED METHODOLOGY
• Research philosophy: Positivism
• Research approach: Deductive
• Research strategy: Survey
• Research choice: Quantitative
• Time horizon: Cross-sectional
• Data collection: Primary and secondary
• Data analysis: Frequency distribution analysis
• Sampling: 5 small entrepreneurs from UK through probability sampling

Questions
Q1. What is the impact of Brexit and petroleum deficiency and cost on small entrepreneurs of UK?
a) Positive
b) Negative
c) Neutral
Q2. What are the ways or strategies that small entrepreneurs of UK used for managing above mentioned all serious issues?
a) Recruiting staff from other country
b) Attracting more buyers from non-Europe market
c) Adopting change management process
Q3. What is the benefits of entrepreneurship and leadership for small entrepreneurs of UK while managing all issues
effectively?
a) Successfully development of business
b) Reduction of the issue of Brexit and petroleum

My expectations
• My expectation after this research is use of quantitative research is useful
and effective in collecting numerical information within less time period.
• Questionnaire is used for collecting information in numerical manner. My
expectation is to achieve research aim and objectives through the research
questions.

Potential Outcomes
• The potential outcome to conduct the research is that it will helps them to
know the strategies that can be used by the small entrepreneur so that they
can overcome from the problem faced by them.
• The ways which they can use to solve the issue related to Brexit and
petroleum deficiency.

Conceptual Map

Gantt Chart

Risk Register
Risk Likelihood Risk Rating Treatment/control methods Responsibility
Communication Medium 7 Can take the help of written
communication method to treat
this risk
Researcher
TIME HIGH 9 Could use the technique time management so
that effective allocation of time in different
activities can be made
Researcher
COST Low 5 Can effective use budgeting method Researcher

References
• Frederick, H., O'Connor, A. and Kuratko, D.F., 2018. Entrepreneurship. Cengage AU.
• McKelvey, M. and Lassen, A.H., 2018. Knowledge, meaning and identity: Key
characteristics of entrepreneurship in cultural and creative industries. Creativity and
Innovation Management. 27(3). pp.281-283.
• Chenli, M., Bannerman, S. and Abrokwah, E., 2021. Reviewing the global economic
impacts and mitigating measures of COVID-19. Total Quality Management & Business
Excellence. pp.1-15.
• Galán-Gutiérrez, J.A. and Martín-García, R., 2021. Cointegration between the structure
of copper futures prices and Brexit. Resources Policy. 71. p.101998.