Even though you don’t want to be an Entrepreneur (there are a lot more than 8 types, in fact), if you are interested in starting a business and making money there is a good chance that you’re thinking about what type of business to start. This article will go through each of the eight types and give a brief description of what they are, who can start them, and how much money you can make with them.
Entrepreneurs are a special breed. They are the people that invest their time, energy, and money into something they believe in. Whether it be starting a new business or changing their current line of work, they are all around us. But, who is this mysterious entrepreneur? Are they singular? Or will there be more than one type? Well, in this article I hope to answer all your questions about entrepreneurship and give you an idea of who you might be. You might find yourself on my 1st type, 2nd type, or maybe even a hybrid of one or two.
Traditional own-your-own-business entrepreneurship
Traditional own-your-own-business entrepreneurship is the most common type of entrepreneurship. Entrepreneurs are people who start their own businesses, like a restaurant or small business that sells goods or services directly to consumers.
Entrepreneurship is risky and most entrepreneurs start businesses to make money, but it also offers many benefits: freedom, autonomy, and control over your life’s work; being able to choose what you do with your time; getting paid for something you enjoy doing; creating something new from nothing—and earning money from it!
Entrepreneurs are people who start their own businesses, like a restaurant or small business that sells goods or services directly to consumers. Entrepreneurship is risky and most entrepreneurs start businesses to make money, but it also offers many benefits: freedom, autonomy, and control over your life’s work; being able to choose what you do with your time; getting paid for something you enjoy doing; creating something new from nothing—and earning money from it!
Small-scale entrepreneurship is the type of entrepreneurship that involves starting a business with a small amount of capital. This can be a good way to start your own business if you have little money or time to invest in it.
Small-scale entrepreneurship also includes micro businesses, which are small businesses with less than 10 employees; and nano enterprises, which are companies with less than five employees.
Small-scale entrepreneurship is a great way to start your own business. It allows you to test out ideas and see if they will work before investing in them. If you don’t have much money or time, it might be the best option for you.
Micro-entrepreneurship is the act of starting a business with a small amount of capital. This can be a good way to start your own business if you have little money or time to invest in it. Microbusinesses, which are small businesses with less than 10 employees; and nano enterprises, which are companies with less than five employees, are both types of micro-entrepreneurship.
Large Scale Entrepreneurship
Large-scale entrepreneurship is the type of business that requires a lot of capital to start up and run. It’s usually a corporation, but it can be a small business at first—for example, an online retailer with warehouses full of inventory or software for processing orders. These businesses are usually in the manufacturing or service industries:
- Manufacturing (e.g., cars)
- Service industries (e.g., restaurants)
Franchise entrepreneurship is the most common type of entrepreneurship. It involves starting up a business using the same name and brand as one or more parent companies, typically to provide training and support to the franchisee.
Franchisees pay fees to their respective franchisor(s) for use of these resources (such as branding, training materials, etc.). In exchange for these payments, they receive access to resources that would otherwise be unavailable at a lower cost if they began their own businesses from scratch.
Franchising is more expensive than starting your own business because it requires upfront investment in equipment such as computers; advertising; marketing materials like catalogs; rent on retail space or office space; legal fees associated with obtaining permits such as liquor licenses; accounting services like payroll processing services etc.
Corporate entrepreneurship is the process of creating new ventures within an organization. It can be a way to bring new ideas and processes into an organization, as well as bring new products or services into an existing one.
Corporate entrepreneurship can be a way for an organization to innovate and stay competitive. It can also be a way for an organization to create new revenue streams, especially if they are not-for-profit. Corporate entrepreneurs are people who have the ability to see opportunities where others don’t, and then have the drive and determination to make those opportunities happen.
Social entrepreneurship is the use of business methods for the creation and distribution of goods and services that benefit society, often in economically and socially disadvantaged communities. The concept dates back to the 1960s when entrepreneur Muhammad Yunus founded Grameen Bank, which makes micro-loans to women in Bangladesh who otherwise wouldn’t be able to access credit. Today social entrepreneurs are playing an increasingly important role in solving problems around the world—from fighting hunger to ensuring safe drinking water.
Business entrepreneurs are those who start a business that is based on the internet. They can be individuals, or they can be companies. They have to have a good understanding of the internet, and how to use it to sell their products.
The first step in eBusiness entrepreneurship is deciding what kind of business you want to run. There are many different types of businesses that you could start:
- A blog (think WordPress)
- An online store (like Amazon)
- A software program was written specifically for your industry/business
Global entrepreneurship is the act of starting a business in more than one country. It’s a very risky endeavor, and you need to be prepared for things to go wrong.
The first thing to remember about global entrepreneurship is that it’s not easy—it takes years, if not decades, of preparation before you can successfully start your venture abroad. You’ll need to learn multiple languages (and even more than one dialect), develop relationships with local partners or employees and find ways around legal hurdles like visa requirements or taxes that may limit what you can do legally in those countries.
The 8 types of entrepreneurship are Traditional own-your-own-business, Small scale, Large Scale, Franchise, Corporate, Social, eBusiness, Global
- Traditional own-your-own-business entrepreneurship
- Small scale entrepreneurship
- Large scale entrepreneurship
- Franchise Entrepreneurship
- Corporate Entrepreneurship 6. Social Entrepreneurship 7 eBusiness 8 Global
We hope this article has been helpful in providing you with some insight into the many different types of entrepreneurship. We did not cover all of them, but we think these 8 are the most common and will be able to give you a good idea of what your business might look like if you choose one or more of them as your path.
So there you have it. As you can see, there are numerous different types of entrepreneurship. Not all of them will be right for you or your situation, but hopefully, this article has given you an idea of which one(s) to keep an eye out for. And if none of them seem to fit, then perhaps