Tutor Quora

BUS305 : Entrepreneurship And Small Business Management

Academic Anxiety?

Get an original paper within hours and nail the task

156 experts online

Free Samples

BUS305 : Entrepreneurship And Small Business Management

.cms-body-content table{width:100%!important;} #subhidecontent{ position: relative;
overflow-x: auto;
width: 100%;}

BUS305 : Entrepreneurship And Small Business Management

0 Download5 Pages / 1,210 Words

Course Code: BUS305
University: Saylor Academy

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United States


LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial.
LO2 Assess the impact of small businesses on the economy.
You currently work for a consultancy firm that provides advice and market intelligence to small businesses and entrepreneurs. As part of updating the new website you have been tasked with investigating different types of ventures and their impact upon the economy to put on a webpage. This is a mini research project that is based on a range of different examples, one of which should be a local business.
You should choose one example of each type of entrepreneurship, at least one of which should be a local business. You must describe and compare different environments for each of your examples and evaluate their impact on the economy at different levels.
Primary research could be conducted for your choice of local business. Primary research may include the use of interviews, existing videos or questionnaires completed by practicing entrepreneurs.


1.0 Entrepreneurial Venture
Venture can be defined as an undertaking involving both chance and risk e.g. a speculative business enterprise. It is developed with the aim of making a profit.
Entrepreneur- is a person who comes up with a business idea and ventures into it using his/her resources with the aim of making a profit. He is responsible for all the risks associated with the business.
The entrepreneurial venture is a business or an organization that critically puts innovation and opportunities into consideration in order to enhance economic growth and social value. Its main focus is on coming up with a new product to satisfy a given market and not necessarily dealing with existing products (Jiang et al. 2018).
Types of Entrepreneurial Ventures
There are several types of business ventures (Morris et al. 2018). Discussed below are some of the business ventures that can be considered entrepreneurial;
Social Entrepreneurship
This is a situation where start-up companies and other entrepreneurs are used in the development, financing and putting solutions into practice for social, cultural and environmental issues. Social entrepreneurship can be categorized into two; social entrepreneurs who view performance in the form of improvement of the welfare of the involved community and for-profit entrepreneurs who view performance in terms of profits, revenues and increased stock prices.
Social entrepreneurship strives to achieve social, cultural and environmental goals in such areas as health care, alleviation of poverty and community development. It mainly depends on volunteers.
1.1.2 Corporate Entrepreneurship
This is the process of coming up with new ideas and opportunities within established companies with an aim of improving profitability and the competitive position of an organization or renovation of strategies of an existing business. Innovation is a very important factor in corporate entrepreneurship since the two can really help in taking calculated and beneficial risks. Corporate entrepreneurship has a significant effect on competition and can also lead to the creation of new industries (Kazanjian, Drazin, & Glynn, 2017).
Corporate entrepreneurship makes risk-averse companies be risk-takers by making them more innovative. This helps in driving leaders and subordinates towards an increased level of corporate brilliance.
It also leads to organizational renewal since it drives the company to venture into new ideas. The company is able to improve technologically, administratively and also its products and processes are improved. This, in turn, makes the company be more competitive.
1.1.3 Scalable Startups Entrepreneurship
A scalable startup involves innovating an idea and looking for a scalable and repeatable business model that will turn it into a large profitable corporation. The corporation does that by entering into a large market and taking a share of it from the present players in the market or creates a new market and devices ways to make it grow rapidly (Holmen et al. 2015).
A startup requires external capital for it to create market demand and scale thus founders have to convince investors that the venture is viable. They also have to hire the services of skilled employees who help in winning early customers.
1.1.4 Small Business Entrepreneurship
Small businesses are privately owned businesses that generate low annual revenue and have fewer employees when compared to larger businesses or corporations (Burns, 2016). They take the form of sole proprietorships, partnerships, and corporations. The main point of measurement taken into consideration when classifying small businesses is the number of employees although there are a number of parameters that can also be considered including annual revenues, a number of shipments done, net profit, sales and assets owned by the business (Schaper et al. 2014).
Small businesses are started by entrepreneurs whose intentions are not to make the venture grow into a big business one day. They are content with the way things are so long as they can earn a living and serve their local community. The founders do not necessarily aim at doing things differently but are likely to do what others are already doing.
2. Impact of Small Businesses on the Economy.
Small businesses are the engines of growth and they have a vital impact on the success of a given economy. For example, in UK small businesses and medium enterprises are the backbone of the economy, According to research, it was discovered that they provided 50% of employment opportunities between 20002 and 2008.
 Small businesses influence the economy in the following ways:

Innovation- small businesses are usually involved with coming up with new ideas of doing things or improving on existing ones. By so doing, better methods of carrying out specific activities may be invented.
Job opportunities- small businesses createemployment opportunities which help in improving people’s living standards. The jobless individuals who could not afford anything can earn some income out of the venture making their lives much more comfortable since they can now afford whatever they want by making use of the earned income.
Independence- as a result of people being employed, they will earn income which will make them financially independent. The earned income puts people to afford most of the things they require which makes them less dependent on other employed individuals.
Development- small businesses have greatly lead to the developmentof rural areas where most of them are located. Consumers who buy from these small businesses pay lots of local taxes which in turn can be used in the building of new social amenities and improving existing ones. This is of great advantage to the economy at large.
Future growth- almost every large corporation started off as a small venture. They have since grown to become large corporations which leadto the growth of the economy on a larger extent
They help in the utilization of idle resources- small businesses often make use of locally available resources ranging from human to natural resources which have not been explored before. By putting these resources into practice, they lead to the totalgrowth of the Gross Domestic Product.
Economic growth- by utilizing locally available resources, small businesses make available to the local and international markets which savethe country revenue that would have been used in the importation of similar products and also generates revenue to the government in form of taxes on both exports and locally sold products (Doppelt, 2017).

Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Doppelt, B., 2017. Leading change toward sustainability: A change-management guide for business, government and civil society. Routledge.
Holmén, M., Berglund, H., Björkdahl, J., Mansoori, Y. and Sjölander, S., 2015. Entrepreneurs Searching for Scalable Business Models: The Barriers of the Customer Development Process. In Australian Center for Entrepreneurship Exchange (ACERE) 2015, 3-6 February 2015, Adelaide Australia (pp. 396-411). Queensland University of Technology.
Jiang, H., Cannella, A.A. and Jiao, J., 2018. Does desperation breed deceiver? A behavioral model of new venture opportunism. Entrepreneurship Theory and Practice, 42(5), pp.769-796.
Kazanjian, R.K., Drazin, R. and Glynn, M.A., 2017. Implementing strategies for corporate entrepreneurship: A knowledge?based perspective. Strategic entrepreneurship: Creating a new mindset, pp.173-199.
Morris, M.H., Neumeyer, X., Jang, Y. and Kuratko, D.F., 2018. Distinguishing Types of Entrepreneurial Ventures: An Identity?Based Perspective. Journal of Small Business Management, 56(3), pp.453-474.
Schaper, M.T., Volery, T., Weber, P.C. and Gibson, B., 2014. Entrepreneurship and small business.

Free Membership to World’s Largest Sample Bank

To View this & another 50000+ free samples. Please put
your valid email id.


Yes, alert me for offers and important updates


Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

UploadUnique Document

DocumentUnder Evaluation

Get Moneyinto Your Wallet

Total 5 pages


*The content must not be available online or in our existing Database to qualify as

Cite This Work
To export a reference to this article please select a referencing stye below:


My Assignment Help. (2021). Entrepreneurship And Small Business Management. Retrieved from https://myassignmenthelp.com/free-samples/bus305-entrepreneurship-and-small-business-management/entrepreneurial-venture.html.

“Entrepreneurship And Small Business Management.” My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/bus305-entrepreneurship-and-small-business-management/entrepreneurial-venture.html.

My Assignment Help (2021) Entrepreneurship And Small Business Management [Online]. Available from: https://myassignmenthelp.com/free-samples/bus305-entrepreneurship-and-small-business-management/entrepreneurial-venture.html[Accessed 18 December 2021].

My Assignment Help. ‘Entrepreneurship And Small Business Management’ (My Assignment Help, 2021) accessed 18 December 2021.

My Assignment Help. Entrepreneurship And Small Business Management [Internet]. My Assignment Help. 2021 [cited 18 December 2021]. Available from: https://myassignmenthelp.com/free-samples/bus305-entrepreneurship-and-small-business-management/entrepreneurial-venture.html.

.close{position: absolute;right: 5px;z-index: 999;opacity: 1;color: #ff8b00;}


Thank you for your interest
The respective sample has been mail to your register email id


$20 Credited
successfully in your wallet.
* $5 to be used on order value more than $50. Valid for
only 1

Account created successfully!
We have sent login details on your registered email.



MyAssignmenthelp.com is the perfect solution to render quality solution for all sort of academic issues. We have hired professionals from different fields of study to provide assistance with different subjects. We successfully have provided different types of assignment solutions on 100+ subjects. We have hired industry experts to deliver nursing assignment, hr assignment and finance assignment help. To offer quality content with IT assignments, we have hired IT professionals to render programming language assignment help and IT assignment help for other types of IT assignments as well.

Latest Management Samples

div#loaddata .card img {max-width: 100%;

MPM755 Building Success In Commerce
Download :
0 | Pages :

Course Code: MPM755
University: Deakin University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

The process of developing a successful business entity requires a multidimensional analysis of several factors that relate to the internal and external environment in commerce. The areas covered in this current unit are essential in transforming the business perspective regarding the key commerce factors such as ethics, technology, culture, entrepreneurship, leadership, culture, and globalization (Nzelibe, 1996; Barza, 2…

SNM660 Evidence Based Practice
Download :
0 | Pages :

Course Code: SNM660
University: The University Of Sheffield

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Critical reflection on the objective, design, methodology and outcome of the research undertaken Assessment-I
Smoking and tobacco addiction is one of the few among the most basic general restorative issues, particularly to developed nations such as the UK. It has been represented that among all risk segments smoking is the fourth driving purpose behind infections and other several ailments like asthma, breathing and problems in the l…
Australia Maidstone Management Business management with marketing University of New South Wales Masters in Business Administration 

BSBHRM513 Manage Workforce Planning
Download :
0 | Pages :

Course Code: BSBHRM513
University: Tafe NSW

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Task 1
1.0 Data on staff turnover and demographics
That includes the staffing information of JKL industries for the fiscal year of 2014-15, it can be said that the company is having problems related to employee turnover. For the role of Senior Manager in Sydney, the organization needs 4 managers; however, one manager is exiting. It will make one empty position which might hurt the decision making process. On the other hand, In Brisba…

MKT2031 Issues In Small Business And Entrepreneurship
Download :
0 | Pages :

Course Code: MKT2031
University: University Of Northampton

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Kingdom

Entrepreneurial ventures
Entrepreneurship is the capacity and willingness to develop, manage, and put in order operations of any business venture with an intention to make profits despite the risks that may be involved in such venture. Small and large businesses have a vital role to play in the overall performance of the economy. It is, therefore, necessary to consider the difference between entrepreneurial ventures, individual, and c…
Turkey Istanbul Management University of Employee Masters in Business Administration 

MN506 System Management
Download :
0 | Pages :

Course Code: MN506
University: Melbourne Institute Of Technology

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

An operating system (OS) is defined as a system software that is installed in the systems for the management of the hardware along with the other software resources. Every computer system and mobile device requires an operating system for functioning and execution of operations. There is a great use of mobile devices such as tablets and Smartphones that has increased. One of the widely used and implemented operating syste…
Australia Cheltenham Computer Science Litigation and Dispute Management University of New South Wales Information Technology 


Need an essay written specifically to meet your requirements?

Choose skilled experts on your subject and get an original paper within your deadline

156 experts online

Your time is important. Let us write you an essay from scratch

Tips and Tricks from our Blog

11174 Introduction To Management

Free Samples 11174 Introduction To Management .cms-body-content table{width:100%!important;} #subhidecontent{ position: relative; overflow-x: auto; width: 100%;} 11174 Introduction

Read More »