BTEC Level 4 Higher National Certificate in Business

Unit 9: Entrepreneurship & Small Business Management

Centre Code: 01018

ASSIGNMENT BRIEF
Unit 9: Entrepreneurship & Small Business
Management
QUALIFICATION: PEARSON BTEC HND IN BUSINESS
Unit 9: Entrepreneurship & Small Business Management
Unit code: T/508/0495 Unit type: Optional
Unit level: 4 Credit value: 15
TQT: 150
Assessor / Tutor: Internal Verifier: Muhammad Ismail
Assignment Approval Date: 22/07/2020 Date issued to Students: 14/09/2020
Draft Submission Date: 25/10/2020
Final Submission Date: 13/12/2020

BTEC Higher National Certificate in

Business
Centre Code: 01018

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

Aims & Objectives of the Assignment

This unit provides students with an understanding of the definition and scope of
entrepreneurship and an understanding of the enablers and barriers to business start-up.
Students will learn about the influence of national culture and economy on entrepreneurship
and will explore the personal characteristics of entrepreneurs and the impact of personal
situational factors, including education and background. Students will also learn about the role
and importance of small firms to the economy, and about social enterprise and the social
economy.
Students will also be expected to understand the balance of risk and reward in starting a new
venture and they will investigate and reflect on their own entrepreneurial and enterprising
characteristics. Examples of entrepreneurs and start-up organisations will be discussed and
students will be expected to draw on local, personal and general knowledge together with their
learning to be able to identify the characteristics of entrepreneurial ventures.

Learning Outcomes
By the end of this unit, a student will be able to:

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

entrepreneurial.

● Assess the impact of small businesses on the economy.

● Determine and assess the key aspects of an entrepreneurial mind-set.

● Examine the different environments that foster or hinder entrepreneurship.

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

Essential Unit Contents

LO1 Explore and illustrate the range of venture types that might
be considered entrepreneurial

Scoping and defining entrepreneurship:

● What is entrepreneurship? Defining entrepreneurship, entrepreneurial activity and
enterprise.
● The differences between serial entrepreneurs, entrepreneurs and owner-managers.

The typology of entrepreneurship:

● Lifestyle and growth firms. Entrepreneurship in a corporate or public sector context.

● Roles and characteristics of micro, small and medium-sized organisations.

Social enterprise:
● Understanding social enterprise, social entrepreneurs and the growth of the social
economy.

LO2 Assess the impact of small businesses on the economy

Where entrepreneurial ideas come from:

● Definitions of creativity and innovation.

● The main sources of generating business and entrepreneurial ideas.

● How businesses protect intellectual property rights.

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

The role and importance of small firms:

● The number and type of small firms and their contribution to the economy at national,
regional and local level.
● Factors to consider: size, turnover, profit, rate of growth, innovation, sustainability and
adaptability.

International aspects of entrepreneurship:

● How international differences impact upon business start-up.

Essential Unit Contents

LO3 Determine and assess the key aspects of an entrepreneurial
mind-set

Entrepreneurial characteristics and mind-set:

● Research on personal characteristics of entrepreneurs and small business owners.
Different lines of argument relating to characteristics of entrepreneurs such as are
entrepreneurs born or made? Or can characteristics be learnt and adopted by anyone?

Skills set of the entrepreneur:

● The types of skills that typify entrepreneurs and how these skills differentiate from
other organisation managers.

Personal entrepreneurial tendency:

● Entrepreneurial characteristics and situational factors in a personal context, including
family upbringing, lifestyle, cultural differences and personal motivation and drivers.
●

LO4 Examine the different environments that foster or hinder

entrepreneurship

The factors that influence the decision to start a business:

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

● The range of factors that influence the choice to start-up a business, including
personal background and education, national culture, economic circumstances and
character traits.

The risks and rewards of business start-up:

● The potential rewards of business start-up.
● The risks and uncertainties of business start-up and how they can be mitigated.

In order to pass this unit, the assignment (that you present for assessment) needs to
demonstrate that you can meet all the learning outcomes listed below.

(LO) Learning Outcomes

Explore and illustrate the range of venture types that might be
LO1
considered entrepreneurial.
LO2 Assess the impact of small businesses on the economy.
LO3 Determine and assess the key aspects of an entrepreneurial mind-set.
LO4 Examine the different environments that foster or hinder entrepreneurship.

This assignment consists of two parts:

Part1: “Entrepreneurial Ventures” covers Learning Outcomes 1 & 2

Business Case / Scenario (LO1 & LO2)

You work as an intern in a consultancy firm that provides advice and market intelligence to
small business and new entrepreneurs. Your firm is going to arrange a “Small Business &
Entrepreneur Show” with the aim to attract and guide new businesses by extending support for
starting and running the business successfully. This would serve as a one window solution to

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

small businesses for all their problems.

Your manager has asked you to prepare a research report which will consist of two parts. In
part 1, it should cover the following aspects:

● The impact of different types of ventures including local, social, global, etc. on the
economy of the country (locally and internationally).

● Explore and investigate the similarities and differences between entrepreneurial

ventures.

● You will also use data & statistics to assess and critically evaluate the impact and
importance of small, medium & large businesses on the development of an economy.

● In your report, you will also need to investigate and critically examine the scope,
development and growth of entrepreneurial ventures both in public and corporate
sectors.

● You need to include a range of examples including at least one example for each type
of entrepreneur.

● A conclusion at the end of research report.

For doing this, you need to conduct small scale primary research including interviews,
questionnaire and surveys from the existing entrepreneurs.

Part2: “Entrepreneurial Mindset” covers Learning Outcomes 3 & 4

The second part of your report is about “Entrepreneurial mindset”. For doing this part, you need
to analyse the following 2 cases and submit your findings in your research report under Part 2.
You need to cover the followings:

● You need to illustrate the scope of entrepreneurship covering one local entrepreneur,
one global entrepreneur and one social enterprise and explore their situational factors,
similarities and differences.

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

● Your report should also cover the shared entrepreneurial traits and characteristics and
analyse and critically evaluate the background and experiences which can either
hinder or foster entrepreneurship, providing specific examples to support your line of
argument and apply it to both the given case studies.

● You also need to assess and analyse the characteristic traits, skills and motivational
drivers of successful entrepreneurs and apply it to Tom Mercer and Elizabeth Gooch.
You can also support your arguments by other examples.

● Give conclusions that are drawn from comparing and contrasting both the
entrepreneurs, Tom Mercer and Elizabeth Gooch, discuss about their backgrounds,
experience and the extent to which it has influenced them.

Case Study 1: Elizabeth Gooch and EG Solutions PLC

In 2006, Management Today named Elizabeth Gooch as the seventh most successful female
entrepreneur in the UK. About 25% of the top entrepreneurs in the list were female.

Elizabeth is founder and CEO of EG Solutions, a small company selling operations management
software that helps clients to generate improvements in operational performance and efficiency.
EG Solutions prides itself on implementing its programmes on a fixed cost, fixed timescale
basis. It is the only company that guarantees return on investment and its sales
receipts/revenues are based on the results delivered. A typical implementation project pays
itself within six (6) months.

Elizabeth started work for HSBC Bank aged 18 but left after only 12 months to work for a
consultancy that helped large firms find better ways to use their staff. Eight (8) years later, she
started her own business, EG Consulting, aged 26, financed by £1,000 borrowed from family
and friends and a credit card.

EG Consulting initially offered consultancy and training on operations management to financial

services companies. In its first year, turnover reached £600,000. However, the complexity of
collecting the information needed to advise on improving efficiency led Elizabeth to develop
software to help in the task.

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

In 1993, the software, called Operational Intelligence, was launched as a product in its own
right. It allowed data to be collected in real-time, enabling all departments of a company to
monitor the production process. At that point, the business had six (6) employees, several
contract workers and a turnover of £1 million.

Elizabeth met Rodney Baker-Bates, then CEO of Prudential Financial Services and things
changed dramatically. He believed that she was not making enough of the business and advised
that she should focus on the software, rather than consultancy work.

In 2005, the company changed its name to EG Solutions PLC, with Rodney as the Chairman -
engaged as a strategic planning consultant to help develop the business in a focussed way. The
strategy worked, increasing turnover by 28% in a year to £4.2 million.

The business needed additional capital to fund an ambitious growth target so; Elizabeth decided
to float the company on the Alternative Investment market (AIM), rather than approaching
venture Capitalists, so as to retain control of the business.

The float was successful but EG Solutions suffered £700,000 and £800,000 losses in 2006 and
2007 respectively. Elizabeth cut costs by £1.2 million in 2008 and returned EG Solutions to
profit, admitting that she took her eye off the UK market as she looked overseas for business
opportunities that she had planned to achieve and ambitious growth.

She famously advised:

“There needs to be a lot more attention to strategy. Persevere and never see anything as
failure. Look at what you can learn from something that does not go the way you want. It is all
about attitude. I do not believe in failure. I have needed sheer determination - although my
shareholders would probably describe it as stubbornness.”

Case Study 2: Tom Mercer and MOMA Foods (“MOMA”)

Tom Mercer, a graduate of Cambridge University, was a management consultant with Bain and
Co. in the City of London.

He stated: “I spent most of my days dreaming up business ideas, but one in particular seemed
to stick with me. As a city worker, I thought there were loads of options for lunch and dinner
but very few healthy and tasty breakfasts that commuters could pick up on their way into work.
I ran this by friends and colleagues and it began to feel like this idea actually had legs.

Before going to work, he would blend smoothies with oats for his breakfast in his flat in
Waterloo but this took time and he was often late for work as a result. Then, it suddenly struck
him that his problem was actually a business idea: pre-prepare the blend and then, sell it to

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

commuters from key points, like train, tube, tram and bus stations around London. And so,
MOMA was born in 2006.

He further stated: “It was now time to think about what this healthy breakfast was actually
going to be. I settled on a liquid mixture of yoghurt, oats and fruit (the very first draft of our
current Oatie Shake). I needed to get the product into the hands of key consumers, so thought
what better than a guerrilla style sampling session at Waterloo station.

I stayed up through the night chopping fruit, blending it with oats and yoghurts, breaking
numerous blenders and pouring into water bottles I’d picked up from Tesco. 200 bottles later,
with my trestle table set up outside the station, my friends and I were ‘ busily exchanging
bottles for email addresses.

A couple of months later, after receiving positive feedback from those that took a sample, my
company offered me some time off to pursue the idea further.

This soon turned into leaving the company officially in August ‘05. I’d done my research
standing in train stations counting the footfall (and getting kicked out of a few for looking too
suspicious) and found the best stations to set up my pop-up stall.

By November, I had the go ahead from Waterloo East station to start selling in February 2006.
One converted filing cabinet, an old BT van, and a railway arch later, MOMA sold its first
breakfast to the city of London’s commuters.

The next few months were hectic to say the least – we opened 2 more sites very quickly – one
in Vauxhall and one in Canary Wharf. I used to get up at 1.45am, start work in our railway arch
kitchens at 2.30am and then start selling at 6.30am.

After 4 months, the MOMA team had grown and it was time to hand over the night shift to
someone else!

By the summer of 2008 we had nine stalls and sold into a few offices and shops, including
Selfridges but unfortunately, this was also the beginning of the recession.

Commuters just weren’t as prepared as they were before to spend that little bit extra on
healthy breakfast outside of the home. We started to move our focus away from the stalls and
onto retailers and soon pulled in some great wins – Waitrose, Ocado, and Virgin Atlantic.

Since then we have been through two redesigns, three city wide marketing campaigns, many
great retail listings and taken on some really talented team members.

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

We’ve become the number 1, Muesli brand in the U.K. and have our products in supermarkets,
trains and coffee shops across the country. But this is still only the beginning; we have so much
more room for growth and can’t wait to see what’s in store !”

MOMA’s distinctively colourful carts are now common sights around stations in London.

In 2009, Tom had twenty-five (25) people working for him, including ten (10) stall workers who
were mainly students, wanting to earn extra money. The driver picks up the stall workers and
the leftovers at the end of the shift.

Tom now plans to open more stalls and extend the company beyond London by selling through
Ocado - a leading UK internet retailer.

Submission Format:
Your research paper should be in a Report Format and should include all the points
mentioned above divided into two sections, Part1 and Part2. Your report should be referenced
using the Harvard referencing system. Please also provide a bibliography using the Harvard
referencing system. The recommended word limit is 3,500 (+ /- 10%) words, although you will
not be penalised for exceeding the total word limit.

Grading Criteria

This table outlines requirements for each grade (i.e. Pass, Merit or Distinction).

Pass Merit Distinction

LO1: Explore and illustrate the range of venture

types that might be considered entrepreneurial.
P1: Examine different types of
entrepreneurial ventures and M1: Investigate a diverse D1: Critically examine the
explain how they relate to the range of entrepreneurial scope, development and
typology of entrepreneurship. ventures to demonstrate an growth of entrepreneurial
understanding of ventures.
P2: Explore the similarities and entrepreneurship in both the
differences between public and corporate sector.
entrepreneurial ventures.
LO2: Assess the impact of small businesses on
the economy.
P3: Interpret and assess M2: Evaluate the differences
relevant data and statistics to small, medium and large D2: Critically examine how

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

illustrate how micro and small small businesses have an

businesses impact on the
economy.
P4: Explain the importance of
small businesses and business
start-ups to the growth of the
social economy.
impact on different levels of
the economy (local, regional,
businesses make to the
national) and in an
economy, applying relevant
international context.
data and statistics.

LO3: Determine and assess the key aspects of

an entrepreneurial mind-set.

P5: Determine the D3: Analyse the

M3: Explore and examine
characteristic traits and skills of characteristic traits, skills
different lines of argument
successful entrepreneurs that and motivational drivers of
relating to entrepreneurial
differentiate them from other successful entrepreneurs,
characteristics. supported by specific
business managers.
examples.
P6: Assess how aspects of the
entrepreneurial personality
reflect entrepreneurial
motivation and mindset.

LO4: Examine the different environments that

foster or hinder entrepreneurship. D4: Critically evaluate how
M4: Analyse the link between background and experience
P7: Examine, using relevant entrepreneurial characteristics influences entrepreneurs,
examples, how background and and the influence of personal both positively and
negatively, by comparing
experience can hinder or foster background and experience to
and contrasting examples.
entrepreneurship. specific successful
entrepreneurs.

Before you get started please read the following information very carefully.

Assignment Format/Style
Produce an informal report/paper that addresses all the tasks in the assignment brief. You
are encouraged to use diagrams or tables to illustrate and reinforce your findings, using single
space and font size 12. Any references to academic theory should be correctly cited and
referenced in a bibliography at the end of the report. (Please do not copy and paste
information).

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

✔ Fully completed assignment cover page

✔ Title page

✔ Table of contents

✔ Introduction

✔ Main body of the report clearly identifying the separate outcomes and assessment
criteria
✔ Conclusion and recommendations ( if relevant)

✔ References and bibliography

✔ Appendices only if relevant and necessary

Assignment Content
The assignment brief includes headings relevant to the unit outcomes, read and follow the tasks
listed under each heading and this will make certain that you cover all the outcomes and
assessment criteria to achieve the unit.

Assessment and Grading

Read the assessment grading criteria before attempting the assignment tasks, as it contains
important information about how you should approach your assignment and how grading is
applied in order for you to achieve a pass, merit or distinction.

Assignment Submission
All assignments must be submitted by the agreed date, via MOODLE. Assignments submitted
late, but with permission, will be marked as a pass only. Assignments submitted late, without
permission, will not be marked until the end of the year, or the next time the unit is scheduled.

Please ensure that your assignment is attached to the assignment submission receipt and that
you read and sign the statement confirming authenticity. Check that all relevant fields are
completed fully before submission.

Assignment Feedback
Once the assessor has marked your assignment, you will receive written feedback, either
confirming that you have met the required standard and grade awarded, or that you have

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

not yet met the standard and what you need to do to make the necessary improvements.
Please note that achieved and confirmation of grades is provisional until signed off by the
Internal Verifier.

Student Guide to Writing an Assignment

This is an assignment guide to help support you while completing your BTEC Assignments.
It includes:
● Assignment writing guidance

● Referencing guidance

Bibliography / References
Please list down “works cited” within the framework of enumerative bibliography – a list of
references to key articles and texts. Verify each reference carefully; the references must
correspond to the citations in the text. The list of references should start on a new page and be
listed alphabetically by the name of the author(s) and then by year, chronologically. Only the
first author’s name is inverted. The name of each author and the title of the citation should be
exactly as it appears in the original work. More Information can be found in the College
MOODLE in the General Information about the Harvard Referencing.

Recommended Reading:
Learners must consult College and local national library facilities. In addition, learners need to
read the broadsheet press and weekly business magazines regularly. You should also use
relevant internet sites regularly and identify key influences and recent and relevant research
with regard to your subject area. You should read topical case studies and read about national
campaigns and government initiatives in your area of interest. Following is the list of indicative
resource materials

Textbooks:
Check the list of recommended books for your further reading

● BURNS, P (2011) Entrepreneurship and Small Business. 3rd Ed. Basingstoke:

● Palgrave MacMillan.

● DOWN, S. (2010) Enterprise, Entrepreneurship and Small Business. London: Sage.

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BTEC Level 4 Higher National Certificate in Business
Unit 9: Entrepreneurship & Small Business Management
Centre Code: 01018

● CARTER, S. and JONES-EVANS, D. (2012) Enterprise and Small Business:

Principles,

● Practice and Policy. London: Pearson.

● GRIFFITHS, A. and WALL, S. (2011) Economics for Business and Management.

● 3rd Ed. Harlow: Pearson.

Journals

● Journal of Small Business Management . Oxford: Wiley-Blackwell.

(http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1540-627X)

Links
This unit links to the following related units:

● Unit 1: Business and the Business Environment

● Unit 27: Identifying Entrepreneurial Opportunities

● Unit 28: Launching a New Venture

● Unit 29: Managing and Running a Small Business

Unit 9: Entrepreneurship & Small Business Management Page 14 of 15

Student Assessment Submission and Declaration

When submitting evidence for assessment, you must sign a declaration confirming that the
work is your own.

Student Assessor
Name: Name:
Submission Submitted
Issue date: date: on:

Programme BTEC Higher National Certificate in Business

:

Unit: Unit 9: Entrepreneurship & Small Business Management

Plagiarism
Plagiarism is a form of cheating. Plagiarism must be avoided at all costs and students who
break the rules, however innocently, may be penalised. It is your responsibility to ensure that
you understand correct referencing practices. As a university level student, you are expected to
use appropriate references throughout and keep carefully detailed notes of all your sources of
materials for material you have used in your work, including any material downloaded from the
Internet. Please consult the relevant unit lecturer or your course tutor if you need any further
advice.

Student declaration
I certify that the assignment submission is entirely my own work. I fully understand the
consequences of plagiarism. I understand that making a false declaration is a form of
malpractice.

Student signature: Date: