ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT PDF SERIAL
Typology of Entrepreneurship- Serial Entrepreneur typology- A serial entrepreneur is a person that forms and comes up with a new and innovative ideas for the business and the start ups. The objective of these ventures is to sustain a limited level of income and not more than it. Lifestyle Venture- Lifestyle venture is an organization that is planned and executed by its founders with an intention to serve the society and communities. The main objective of these ventures is long-term survival in the market with a broader vision (Zacca, Dayan and Ahrens, 2015).
Small business venture - Small business ventures are the business that focus on earning average normal profits that is viable to survive the current business for never ending period. Types of Entrepreneur Ventures- High Growth Venture- High growth venture refers to a venture that is being set up by gathering the working capital from several investors with an intend to earn higher profits and achieve higher growth and expansion. It can be also said that a Entrepreneurial venture is a calculated risks or efforts taken by a person in a n intention to initiate a business (Kuratko, Hornsby and Hayton, 2015). Entrepreneurial ventures are the business start-ups that are the outcomes of the initiative taken by the entrepreneurs in the form of investing their resources for accomplishing a production system with a view to invent a new technique or style of business. LO 1 P1 An Entrepreneur is a person that invest his resources in a production of goods and services and apply a creative idea for business in an intention to earn profit by setting up an small organization. The report also highlights the key aspects of entrepreneurial mindset as well as study the various factors that foster the entrepreneurship. The report will also include the impact of small business on the economy. This report will highlight the different range of entrepreneurial ventures and explain the key differences and similarities in them. A small and micro businesses are a set up of a business organization that has turn over capital of not more than £3.26 million as well as including less than 50 employees in it. Basically it is an act of investing resources in a business venture to initiate a production activities by arranging inputs like as land, labour, material and capital. INTRODUCTION Entrepreneurship is a process of creating a new business or enterprise that involves taking risks out of it in an intention of earning profit.