What are the 4 types of entrepreneurship?
Types of Entrepreneurship
Entrepreneurship can be classified into four main types based on the nature of the business activities, risk levels, and goals. Understanding these types helps aspiring entrepreneurs identify which path aligns best with their interests and resources.
1. Small Business Entrepreneurship
This type involves establishing small-scale businesses that serve local markets. Examples include restaurants, retail stores, and service providers. These entrepreneurs aim for steady growth and community impact rather than rapid expansion.
2. Scalable Startup Entrepreneurship
Startups seeking to grow rapidly and scale their operations globally fall into this category. They often involve innovative products or services with high growth potential, seeking investment and aiming for large-scale market penetration.
3. Large Company Entrepreneurship
This type involves innovating within established large companies to develop new products or services. It is often called intrapreneurship and encourages innovation while leveraging existing resources.
4. Social Entrepreneurship
This focuses on developing solutions to social, cultural, or environmental issues. Social entrepreneurs aim to create positive change and sustainable impact rather than solely profit.