Analysis of Entrepreneurial Ventures: A Business Report (Unit 9)

This report, prepared for a BTEC Level 4 HND Diploma in Business Unit 9: Entrepreneurship and Small Business Management, analyzes different types of entrepreneurial ventures, including small businesses, scalable startups, high-growth firms, and social enterprises, using examples like Nuna Lounge, Green Joy, Nike, and KOTO. It explores the similarities and differences between these ventures, considering factors like business environment, business purposes, and scales of operation. The report further examines entrepreneurship in both the public and corporate sectors. A significant portion of the report is dedicated to evaluating the impact and importance of small businesses on the economy, highlighting their role in job creation, economic growth, contribution to local governments through taxes, and exploitation of local resources. The report also discusses the importance of small businesses and business start-ups in the growth of the social economy, providing a comprehensive overview of entrepreneurship's multifaceted role.

ASSIGNMENT 1 FRONT SHEET
Qualification BTEC Level 4 HND Diploma in Business
Unit number and title Unit 9: Entrepreneurship and Small Business Management
Submission date 1/4/2021 Date received (1 st submission)
Re-submission date Date received (2 nd submission)
Student name Nguyen Phan Quynh Anh Student ID GBD1834
Class GBD0804B Assessor name Badraoui
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I certify that the assignment submission is entirely my own work and I fully understand the consequences of pla
making a false declaration is a form of malpractice.
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Table of Contents
INTRODUCTION ............................................................................................................................................................ 5
1. Introduction about the chosen firms ................................................................................................................... 5
2. Analysis ................................................................................................................................................................. 5
2.1 Explore and illustrate the range of different entrepreneurship ventures .......................................................... 5
2.1.1 Types of entrepreneurial ventures and their relation to the typology of entrepreneurship with the
chosen firms ......................................................................................................................................................... 5
2.1.2 The similarities and differences between entrepreneurial ventures ........................................................ 7
2.1.3 Entrepreneurship in the public and corporate sector ............................................................................... 8
2.2 Evaluate the impact and importance of small businesses on the economy ...................................................... 8
2.2.1 The impact of the chosen small businesses ............................................................................................... 8
2.2.2 The importance of small businesses and business start-ups to the growth of the social economy ........ 9
2.2.3 The differences small, medium and large businesses make to the economy ........................................ 11
CONCLUTION .............................................................................................................................................................. 11
References .................................................................................................................................................................. 12

INTRODUCTION
Entering the period of economic integration, the establishment of enterprises is increasingly diversified and
developed, moreover, the State's renovation policies have facilitated the establishment of booming enterprises with
increasing numbers. This essay will identify the scope of the types of joint ventures that can be considered as
entrepreneurs and the significant impact of small businesses on the economy.
1. Introduction about the chosen firms
Nuna Lounge DaNang selected to be a specific example for analysis in this article is small business in Danang which
open from January 2020 at Yen Bai street, Danang city. Nuna is a nightlife playground for Da Nang youth as well as
tourists with recreational activities. Nuna Lounge operates on a small scale with around 30 employees including
managers and staff working in a nightlife environment. Nuna Lounge offers a great atmosphere with vibrant music
and a friendly and professional staff for fans partying in Danang.
2. Analysis
2.1 Explore and illustrate the range of different entrepreneurship
ventures
2.1.1 Types of entrepreneurial ventures and their relation to the typology
of entrepreneurship with the chosen firms
There are 4 types of entrepreneurial ventures including Small business, Scalable Startup, High growth firms, Social
enterprise (Morris, 2019). Following that, Nuna Lounge, Green Joy, Nike, and KOTO are the four selected businesses
as practical examples for four entrepreneurship ventures.
Small business is an enterprise that is established, organized and operates with a small number of employees.
Follow the SBA define, small business could be defined as business with a maximum of 250 employees or a maximum
of 1,500 employees depending on the industry of the business. Currently, the small and medium enterprise model
is very popular. Especially in Vietnam, currently over 93% of the total existing enterprises are small and medium
enterprises (States, 1953).

Nuna Lounge is small business in Da Nang city founder by Dinh Ba Cong active in the field of nightlife for a year.
Nuna Lounge operates on a small scale with a small number of people. Nuna Lounge offers night play services and
monetizes it. However, the investment capital and profits are not too large and Nuna is only present in Da Nang, so
it is a small business.
Scalable startup is a business model that starts on a unique idea to expand and develop that idea in the long run to
make a profit and become a growing company. The necessary amount of investment capital and human resources
are essential for the development of your business (Santala, 2013).
Green Joy is an enterprise producing and trading natural and environmentally friendly products led by Vo Quoc Thao
Nguyen, Founder and CEO of this project. Green Joy appeared to raise money on Shark Tank Vietnam and was
invested by Shark Lien with VND 4 billion for a 33% stake. Green Joy straws are the optimal solution to replace plastic
straws because it is easily biodegradable, safe for health. Over more, the preparation of this grass straw production
contributes to creating stable jobs for people in the Mekong Delta. After 8 months of operation, Green Joy now
provides 100 restaurants and hotels in Vietnam. Access to more than 30 markets in countries: USA, Canada, France,
Germany, Belgium, Spain, Malaysia, Singapore, Japan and Korea (Joy, 2021).
High growth firms are a company whose annual revenue is higher than the average of other companies in the same
industry for a long time, or have had strong, remarkable growth in the economy in recent years. The growth
company is able to expand the business scale quickly (Schreyer, 2000).
Nike is one of the brands that is recognized as the fastest growing globally. The company, founded in 1964 with the
name Blue Ribbon Sports, is still going strong today. Nike grew rapidly during the 1970s and early 1980s. The
company's revenue increased from 28.7 million USD in 1973 to 867 million USD in 1983. By 2018, the brand was
present in 52 countries. Join more than 73,000 stores. Last year the company's revenue reached 36.4 billion USD.
The sportswear brand is currently worth more than US $ 100 billion (Drive, 2020)
Social enterprise is an organization whose business activities aim to achieve specific social goals. Profits earned by
businesses are used to invest in that goal or to the community and the environment (BARONE, 2020).
KOTO stands for Knowing One, Teaching One means learning should be transmitted, knowledge should be shared.
KOTO was founded by Jimmy Pham - an Australian of Vietnamese origin. KOTO continues to be recognized as an
internationally leading, unique non-profit social enterprise. Currently, KOTO has provided 200 youth at risk and
disadvantaged in Vietnam the opportunity to implement a comprehensive 24-month hotel training program to end
poverty and give practitioners the right to fulfill their dreams (KOTO, 2021)

2.1.2 The similarities and differences between entrepreneurial ventures
Definition of business environment
Business environment is a total of external and internal factors that mobilize interaction with each other, directly
and indirectly affecting the business activities of the business. Business environment is an important aspect of every
business, greatly affecting the business both negatively and positively (Fitzpatrick, 1983)
Similarities
Each type of entrepreneurial ventures has its own characteristics. However, they still have similarities:
Firstly, the goal of all four types of venture businesses is to make a profit and they do everything they can to achieve
those goals. Whether their profits will be used for the service of themselves, their families, or even the nation and
society is up to them. Therefore, both are essential parts of the country's economic development.
Second, all types of businesses must always deal with risks promptly and reasonably in the decision-making process.
They will always have to compete with competitors in the same market in terms of investments, technology and
customer needs. Enterprises that want to be sustainable need to know how to change to develop and fit with the
market.
Ultimately, all types of businesses have equal opportunity and competition. Therefore, each organization needs to
build its own growth opportunities in the business environment. (desklib, 2020)
Differences
Small Business
Nuna Lounge
Scalable startup
Green Joy
High growth firms
Nike
Social enterprise
KOTO
Forms of Business
Organizations
Proprietorship Limited-liability
company (LLC)
Limited-liability
company (LLC)
Primate enterprise
Business purposes For Profit For Profit For Profit. Non - Profit
Market needs,
demand,
opportunities
Young people and
tourists in Danang
looking for
Bringing products to
customers who have
goodwill to protect
Focus on sports
shoes market,
especially running
Looking for
adolescents with
difficult

interesting
playgrounds at
night.
the environment
and businesses like
restaurants that use
environmental
protection products
instead of plastic
shoes and
basketball
circumstances to
change their fate to
train and guide
them to be active in
life.
Scales of Business Small Small Large Medium
2.1.3 Entrepreneurship in the public and corporate sector
Public sector entrepreneurship is the enactment of innovative public policy initiatives that aim to create greater
economic prosperity by transforming the existing economic environment into one that is more conducive to
business entities. Involved in the creative activities of uncertainty.
Corporate sector entrepreneurship is a process used to develop new businesses, products, services or processes
within an existing organization to create value and generate new revenue growth through thinking and action. of
business people.
2.2 Evaluate the impact and importance of small businesses on the
economy
2.2.1 The impact of the chosen small businesses
Small businesses are very important in the economies of each country, including countries with high levels of
development. The importance of small businesses is growing as the scope of activities expands, the number of
businesses and operations are present in many industries and fields and exist as an integral part of the economy in
each country.
First, small businesses create jobs for workers that help reduce unemployment in the local area. Small businesses
also help stimulate economic growth by providing employment opportunities for those who cannot be recruited by
larger corporations. Moreover, because the business characteristics do not require a high level of labor, it is possible
to use labor resources in remote, underdeveloped areas. The Nuna Lounge has created employment opportunities
for nearly 40 people with a stable income and facilitates development in a dynamic and professional working
environment. Nuna also has positions such as booking collaborators to help students earn more income and at the
same time help them have a wide relationship to create opportunities to develop themselves in the future.

Second, small businesses play an important role in stabilizing and promoting economic growth. In recent years, small
businesses grow faster and account for an increasing proportion of the total number of businesses because It has
the advantage of low investment capital and abundant labor resources. Small Businesses provides the market with
a wide variety of products in all sectors of the economy, creating many choices to meet the needs of consumers,
thereby promoting consumption. of economy. Small businesses always maintain the economic growth rate even
when the economy is in crisis and therefore the contribution of small businesses to the total output of the economy
is very large.
Third, Small Businesses contribute to local governments by taxes. When consumers patronize local small businesses,
they are essentially giving money back to their local community. If small businesses have a high turnover then they
will have to pay higher taxes and this money will be used to local police, schools and hospitals. With an average
revenue of more than 1 billion VND per month, Nuna Lounge Taxes of around 10% are equivalent to more than VND
100 million to contribute to the locality to help develop the financial resources to ensure the public life.
Fourth, small businesses exploit and promote local resources, contributing to economic restructuring. With small
investment capital, compact and easy-to-start organizational structure, small businesses can participate in many
markets in order to exploit the potential and strengths of each land, resources and labor. regions, especially rural
areas. Small businesses play a very important role in rural industrialization and modernization, contributing to
narrowing the development gap between urban and rural areas and promoting trade in services and small
businesses. development contributes to economic restructuring.
2.2.2 The importance of small businesses and business start-ups to the
growth of the social economy
Social economy refers to the relationship between social and economic factors in society. These factors influence
the way a specific group or socioeconomic class behaves in society, including their actions as consumers.
Socioeconomic classes may have different priorities on how they use their money.
Being the owner of a small business or a startup company is challenging. Both of them were built from a variety of
backgrounds, each with the owners’ reasons for achieve themselves self-employment. Usually, they’re
independently owned and operated with few employees. Despite the fact that they are always being called
“small” and “uncertain”, their detrimental effects on social economy are absolutely undeniable.

Small businesses or startup companies often don’t get much attentions on the news because of being
overshadowed by large corporations and conglomerates. They may not generate as much revenue individually as
large corporations do but they’re vital to the success of our social economy. These aren’t the mom-and-pop stores
that you’d traditionally imagine and there’s more industry variety now than in the past. Nearly anything
imaginable can be transformed into a small business with hard work and a little luck.
There are three primary ways that small businesses contribute to the social economy:
- They provide people the opportunity to achieve financial independence. Freelance contractor economy is
running everywhere based on the desire for working independence. Being your own boss is challenging but
definitely free and empowering. That’s why the customers can reach to many options with competitive prices that
could meet their needs.
- Innovation encouragement is one of the most vital things to the world’s development. Sometimes, small
businesses were born having big ideas that may put a detrimental effect on a nation’s economy that no one else
believes in yet but its owner. An “empire” starting in garages is a real thing to, and that’s how massive companies
such as Microsoft, Apple … ends up nowadays…. Each of these founders had a remarkable idea that only them
believing in. In brief, true innovators have to believe in their startup or small businesses first and prove their ideas
which could be done before anyone else will believe in them.
- Small businesses or startup companies also generate a broad variety of new employment opportunities. It
is easy to underestimate their importance if you neglect to look closely at the statistics. In Vietnam, the small and
medium entrepreneurs contribute more than 40% of GDP and accounted for over 50% employment. For example,
Nuna creates employment opportunities for more than 30 people in the Danang region and other employment
opportunities in other settings. Or GreenJoys has also created job opportunities for people in the Mekong Delta.

2.2.3 The differences small, medium and large businesses make to the
economy
In Vietnam, the number of small and medium enterprises is much larger than that of large firms. Therefore, small
and medium enterprises have made a great contribution to the Vietnamese economy. As a result, it creates more
jobs and significantly reduces the unemployment rate for the Vietnamese working population. Small and medium
businesses often make a certain profit by serving customers.
In contrast, large organizations have also supported the Vietnamese economy by producing and selling products
and services based on the prestige of brands. Large companies like to maximize their profits by using a variety of
alternative business methods and ways.
In short, both small, medium and large enterprises contribute greatly to the Vietnamese economy
CONCLUTION
There are many types of businesses such as small businesses, startups, high growth companies and social
enterprises. Businesses are making up a large part of the market and bringing in a lot of economic value. This article
has taken the Nuna Lounge as a concrete example to show the importance of small businesses to the economy as
well as the different types of businesses. In short, businesses play a huge role in the economy and they need to have
a smart and wise mindset to resist market changes, solve problems and risks.

References
BARONE, A., 2020. Social Enterprise. 27 Oct.
desklib, 2020. Similarities & Differences Between Entrepreneurial Ventures. 3 6.
Drive, O. B., 2020.
NIKE, Inc. - Company Profile, Information, Business Description, History, Background Information
on NIKE, Inc., U.S.A.: s.n.
Fitzpatrick, M., 1983. The Definition and Assessment of Political Risk in International Business: A Review of the
Literature.
Academy of Management Review, 8(2).
Joy, G., 2021.
http://greenjoystraw.com/vi/. [Online]
Available at: http://greenjoystraw.com/vi/
[Accessed 1 4 2021].
KOTO, 2021.
EMPOWERING AT-RISK AND DISADVANTAGED YOUTH IN VIETNAM.. [Online]
Available at: https://www.koto.com.au/
[Accessed 1 4 2021].
Morris, M. H., 2019. Distinguishing Types of Entrepreneurial Ventures: An Identity-Based Perspective. 11 11, pp.
453-474.
Santala, J. A., 2013.
The Scalable Startup: Customer, Business and Software, s.l.: s.n.
Schreyer, P., 2000.
High-growth Firms and Employment. OECD: s.n.
States, U., 1953.
The Definition of "small Business" Within the Meaning of the Small Business Act of 1953 as
Amended. United States: U.S. Government Printing Office.