Entreprenenuship Essay Example | Topics and Well Written Essays - 4000 words

Entreprenenuship - Essay Example However, the success rate associated with such business models depends on the business scope and strategic effectiveness of an entrepreneur. Specifically mentioning, the UK’s domestic market has currently emerged out of an economic recession. In this regard, it can be predicted about the difficulties faced for the success of the small and medium scale entrepreneurial businesses. Justification to this statement can be provided depending on the fact that within a stabilized economy, the existence of government restrains will be comparatively less and the scope of carrying out the business processes in an appropriate manner will be high (Trading Economics, 2014). Taking consideration of the aforementioned aspects, the discussion focuses towards understanding the significance of growing entrepreneurial business within an economically stabilizing nation such as the UK. In this context, different theories are considered with the aim of having a better understanding about entrepreneurial activity in the UK. Based on the above graph, it can be analysed that the UK economy has drastically entered into a state of instability between the periods of 2012 and 2013. However, the nation appears to have shown appreciable amount of economic growth between the 3rd quarter of 2013 and the final quarter of 2014. Thus, the nation has made consistent efforts towards attracting the attention of the young entrepreneurs who intended to establish their own business and contribute to the economic wellbeing of the UK. With stability within the economic growth pace, the chances of opportunity for entrepreneurship will be much higher in comparison to that of the necessity of entrepreneurship. Moreover, after the economic recession state, the UK government structure has also projected appreciable amount of flexibility within new business licensing and registration procedures in order to create the overall business establishment for new entrepreneurs as