Exploring and Illustrating Venture Types and the Impact of Small Businesses on the Economy

Tasks

Tasks

Explore and illustrate the range of venture types that might be considered entrepreneurial.

Assess the impact of small businesses on the economy.

You currently work as an assistant for a consultancy firm that provides advice and market intelligence to small businesses and entrepreneurs. You have been invited to a conference in London.  You will need to provide a factsheet for people arriving at the conference.  The factsheet must be about entrepreneurial ventures and their impact on the local, national and international economy.

In the first part of the factsheet, you will need to do the following:

• Choose at least three examples of different types of entrepreneurial venture to examine. Follow the guidelines below when selecting the ventures to examine:

One should be a local venture, and another could be an international venture.   

At least one should be from the UK, but you could examine ventures from different countries.   

One should be from the public sector and another from the corporate sector.   

You could select a profit-making enterprise, social enterprise or intrapreneurship.   

• Explain the characteristics of different types of entrepreneurial ventures, with examples from the three you have selected, or any others you wish to refer to.  
• Evaluate the similarities and differences between the entrepreneurial ventures you have selected.
• Describe, compare and critically evaluate the impact of your selected ventures on the economy at local, regional and national level.  You should also consider their impact internationally.

In the second part of the factsheet your investigation must be supported by relevant statistics and data from relevant websites.

• Explain and critically evaluate the extent to which micro and small business start-ups impact on the local, national and international economy and make sure you include reference to the social economy.
• Compare the impact that micro and small businesses have on the economy to the impact of medium and large businesses.
• Support your explanations, evaluations and comparisons with up to date and appropriately cited statistics (see link below).  Make sure that you provide a clear interpretation and assessment of the statistics you use by explaining what they tell us about the impact of micro, small, medium and large businesses on the economy (local, national and international).