Scope of Entrepreneurship is to generate new employment opportunities and innovation which increase recognition of country across nations. They are usually responsible to generating social and economic growth within country. Entrepreneurs are analysed as those individuals who tends to develop new and innovative ideas for establishment of business in particular industry. Process of entrepreneurship is considered as one the most important and creative approach towards the business and business activities towards organizing, managing and leading people within enterprise towards organization goal. PART 1 P1 Different types of entrepreneurial ventures and relate to typology of entrepreneurship. In addition to this, various characteristics, skills and traits two successful entrepreneurs have been evaluated along with aspect that reflects entrepreneurial personality and mind-set. Further, impact of small and micro business on economy has been interpreted with the use of relevant data and statistics. Along with this, various similarities and difference between these private, public and voluntary ventures are also discussed. Present report is based on analysis of various kinds of entrepreneurial venture along with different types of entrepreneurship. High growth and recognition in market have provided major opportunities for expansion of business operations as well as employment for people in local community. Small business enterprise is continuously achieving growth and recognition in the economy because they are continuously providing their focus on innovating their processes, products and services. Entrepreneurs are identified as those personalities or individuals which tend to generate new ideas and concepts for establishment of business. INTRODUCTION Entrepreneurship has been analysed as important component for the country that provides social and economic growth. 10 P7 How a person’s background and past experiences can hinder or foster entrepreneurship 10 CONCLUSION. 8 P6 how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mind- set. 7 P5 Skills, traits and characteristics of successful entrepreneurs. 5 P4 the Importance that small businesses and business start-ups on the growth of the social economy. 2 P3 Relevant data and statistic to determine impact micro and small business have on the economy. 1 P2 Similarities and difference between these ventures. 1 P1 Different types of entrepreneurial ventures and relate to typology of entrepreneurship.