Similarities and Differences Between Entrepreneurial Ventures:

Introduction:
The process to start a new business company is called as entrepeneurship and the person who
takes this initiative is called as an entrepreneur.

Different Types of Entrepreneurial Ventures:

There are a total of four different types of entrepreneurial ventures:

1. Small Business Ventures:

These are actually run by small entrepreneurs and the number of employees are very
low. The owners of these types of ventures are always focused more on enhancing the
quality of their products and attracting more clients.
2. Scalable Startup Ventures:
The owners of these ventures have a proper mind-set of changing the worl before
starting the business. They introduce such innovative products which they think can
change the world. They give employement to the people who they think are suitable for
their firm and can help them achieve their goal.
3. Large Company Ventures:
These companies have a finite life cycle and are established with comparatively more
resources. Their main focus is on providing the customers with new and better products
because their demands change with time, so that their company can run successfully for
a long time. They also have more competitors.
4. Social Ventures:
Such ventures work for making the world a better place. They serve the society in order
to meet their needs and wants by providing them the products that fullfill their
requirements.

Similarities and Differences Between Entrepreneurial Ventures:

The above mentioned four different ventures have the following similarities and differences
among them:

1. Aims and Objectives:

Small Business Ventures: Such firms do not have any planned aims and objectives.
They achieve comparatively less profits.
Scalabale Startup Ventures: Their main objective is to keep on providing new and
innovative products to their customers. They gain higher profits.
Large Company Ventures: Such companies work to prolong their position in the
market by producing new products and by developing new marketing plans.
 Social Ventures: The main objective of such ventures is to make available the quality
products that can help make the world a better place.
2. Employee Number:
Small Business Ventures: These organizations do not have more than 50 employees.
Scalable Startup Ventures: The employee number of such firms depends upon the
size and the structure of the firm.
Large Company Ventures: Such organizations can have employees more than 1000.
Social Ventures: The employee number of these ventures also depend upon its size.
3. Risks:
Small Business Ventures: Their competition with the firms that are of the same size
as them is high but risks are comparatively low.
Scalable Startup Ventures: These organizations have to face higher risks because of
the higher financial investment.
Large Company Ventures: They neither have low risks nor do they have high risks. It
is because such large businesses can often meet their needs and high sales because
of brand popularity.
Social Ventures: They don’t have to face high risks because of their positive vision.
They are often assisted by the public and governments.
4. Structure:
Small Business Ventures: They do not have a proper structure behind their
organization. These are often run and managed by the owner himself.
Scalable Startup Ventures: Most of the times they are chiefly enterprised or have
restricted partnerships.
Large Company Ventures: They can be public or private limited companies and have
a very complex structure.
Social Ventures: Most of the times these organizations are custodian based.

Importance of Small Businesses and Business Start-Ups to the Growth

of the Social Economy:
Introduction:
The privately owned corporations that have comparatively a limited number of employees and
a less yearly income than a customary estimated corporations is called as a small business.
A start-up is a small business that is in its initial stages of development. The money that is
required to run the business is often invested by the owners themselves.
How are They Important for the Growth of Social Economy?
Small businesses and business start-ups play a very vital role in the growth of the social
economy. They are very important for every community as they provide an easy access to the
products that are essential for daily use of people. They provide employement and jobs to
those peope of the community who can not work for larger firms and companies.
The different aspects in which small businesses and business start-ups can benefit the social
economy are the folowing:

1. Provides Employement to People:

When someone starts a small business in an area or a community, he increases the job
opportunities for the people of that area. He can provide employement from 1 to 100+
people. Apart from that he provides self-employment to himself as well. He deals with
people from other walks of life through money. In this way, he helps the social economy
to strengthen.
2. Essential for Bigger Businesses:
Small business and start-ups like the local shops are very important for the success of
bigger businesses. Larger businesses depend upon these smaller business for the sale of
their products. Without smaller businesses, they can not increase the demand and sale
of their products. Hence, they prove to be the backbone of the social economy.
3. Contributes to Local Government with Taxes:
When a small local business gets famous and developed, its yearly revenue increases
and hence the taxes that it pays to the local government also increases. Apart from this,
these local businesses also improve the quality of property in that area. This also leads
to a great contribution in taxes from that community.
4. Grows to Become a Large Business:
It is not necessary that a small business will always remain small. It can achieve success
and gradually transforms into a large business. The main and most common examples of
such businesses are Microsoft and Amazon. Most of the times when small businesses
grow larger, they stay in the same community, serving them and working for their
development by paying heavy taxes.

Conclusion:
Keeping in view the above discussion, we can conclude that small businesses and business
start-ups play a very important role in the growth of social economy. It provides employement
to people who pay taxes and spend their money on buying essential products and the cycle
continues. They provide backbone to the large businesses of the country as well and they
always have a greater probability of developing into one as well. If these small businesses stop
working for a short while, it will badly affect the society. There will be no high taxes and as a
result, no development.