Entrepreneurial Ventures: SMEs, Intrapreneurship & Impact on Economy

This report analyzes the impact of micro, small, and medium-sized enterprises (SMEs) and intrapreneurship on the economy at various levels. It uses data and statistics to compare the differences between micro, small, medium, and large businesses, assessing their impact on the economy, including their role in employment generation and competition. The report also appraises the impacts of different businesses on international, national, regional, and local economies. Furthermore, it discusses the similarities and differences between public and corporate intrapreneurship, exploring the benefits of intrapreneurship and its contribution to competitive advantage in organizations. The report concludes that SMEs contribute significantly to economic growth through employment and increased turnover, while intrapreneurship fosters innovation and helps organizations achieve their goals. It references several sources to support its findings.

Entrepreneurial
Ventures
Task 3 and Task 4

Table of Content
• Introduction
• Interpret relevant data and statistics to relate how micro and small business ventures
impact the economy at different levels
• Using relevant data and statistics, compare the differences between micro-, small-,
medium and large business and their impact on the economy.
• Appraise impacts of different businesses on different levels (international, national,
regional, local) of the economy using appropriate data and statistics.
• Discuss the differences and similarities between public and corporate intrapreneurship
• Explore the benefits of intrapreneurship and its contribution to competitive advantage
in organizations
• Evaluate the use of intrapreneurship and the benefits it can bring to organisations
• Conclusion
• References

Introduction
• Small medium enterprises are
independent and non subsidiary
company which hires fewer number of
employees than the given number in
their business. Intrapreneurship is
related to behaving like an
entrepreneur in the large company
while working in it.

Interpret relevant data and statistics to relate how
micro and small business ventures impact the
economy at different levels
Defining SMEs (small-medium
enterprises) with some examples
• Small and medium size
organisation are the businesses whose
revenue and personnel number is
limited and falls below some limits.
These firms are privately owned
companies whose workforce, capital
and assets falls below some point of
level.

Continue
Assess the effect of SMEs (small-medium enterprises) on the economy of UK
Small medium enterprise plays an important role in the growth of the UK economy. They
have a significant ability to increase the growth of the economy. Some of the impacts that
SMEs have on economy of UK are as assist below:
• Employment generation
• Generate competition
• Quick adoption of changes

Using relevant data and statistics, compare the
differences between micro-, small-, medium and
large business and their impact on the economy.
• The micro and small business enterprise
plays vital role in contributing the economy
of UK. In UK, there are 3.2 million sole
traders which means they make up 56% of
private companies and 60% of every
employment of private sector. The medium
business enterprise, the overall employment
is 16.3 million which means 61% and
estimated whilst turnover of medium
enterprise is estimated at 52%.

Appraise impacts of different businesses on
different levels (international, national, regional,
local) of the economy using appropriate data and
statistics
• Small and micro business impact different levels in different ways. In international
economy small medium enterprise impacts positively as it increases the employment,
turnover and businesses. In national economy the small medium business gives the
employment to the large number of people.

Discuss the differences and similarities between
public and corporate intrapreneurship
Explain intrapreneurship with some
examples
• Intrapreneurship is a term
defined as a system that permits the
employees to behave like an
entrepreneur in the company. It is the
ability of a person to foster
independence for effective growth of
the organization. For example, LEGO
is plastic toys manufacturer in Billund,
Denmark which also have intrapreneur
in their business premises.

Continue
• Analysation of the importance of intrapreneurship in both corporate and public
organisations.
• Intrapreneurship plays an important role in both corporate and public
organisations. In corporate sector it crates the entrepreneurial atmosphere by giving
permission and authority. Importance of intrapreneurship in context to both corporate
and public organisation is mentioned below:
• Growth
• Innovation
• Citizen participation and engagement
• Rebalancing resources

Explore the benefits of intrapreneurship and its
contribution to competitive advantage in
organizations
• Intrapreneurship in the business
organization plays an important role in
providing competitive advantage to the
firm. It contributes in maintaining
sustainability to remain at competitive
edge in the market. It provides various
kinds of benefits in the business that
helps to improve productivity and
profitability of the organization.

Evaluate the use of intrapreneurship and the
benefits it can bring to organisations
• Intrapreneurship is used to improve the
morale of the company’s workforce
and encourages the speed of
innovation. It helps organisation in
improving the productivity and morale
of the people working in it and creates
the most of in house talent and
knowledge.

Concluding the findings with recommendation
and justification.
• From the presentation, it is concluded that small medium enterprises increases the
economy of the country by giving more employment and increases its turnover.
Intrapreneurship is related to the ability of an individual to foster its independence in
order to attain organisational goal and its growth.