20 TYPES OF ENTREPRENEURS

1.Private entrepreneurship
 When an individual or group of individuals start a business, takes risks and
initiates innovations in the private sector, it is called private entrepreneurship.
 The main object of such entrepreneurs is the earn profits.
 The development of such entrepreneurs has been possible, due to private
enterprise.
 Private Entrepreneurship is popular in England, America, Germany, Japan, and
France, etc.
 2. Government or Public Entrepreneurship

 When the government starts business enterprises in government or public sector for public
welfare and takes risks related to them, it is known as government or public
entrepreneurship.
 Such types of entrepreneurship are visible in socialist and Communist countries, like
Russia, China, Yugoslavia, etc.
 Public entrepreneurship has developed fast in India also, after independence.
 3. Joint Entrepreneurship
 When private and government ownership is jointly involved in any
enterprise or business, it is called joint Entrepreneurship.
 Following are the salient features of such Entrepreneurship:
 This is the mixed form of private and government ownership.
 This system provides opportunities for investment to the entrepreneurs of
the private sector, but the main role is of the governments, meaning
thereby that the government makes an investment, jointly with private
entrepreneurs and public in certain preparation.
 In India, joint entrepreneurship has been adopted, due to various reasons,
like achieving the goals of plans, check the concentration of economic
power, encouraging new entrepreneurs, and for Industrial development of
backward areas, etc.
 4. Cooperative Entrepreneurship
 When several people collectively establish Enterprises, bear risks and carry out innovations on
the Cooperative basis, it is known as Cooperative entrepreneurship.
 Then the main object of such entrepreneurship is to the encourage spirit of self Independence
and mutual welfare among the citizens.
 In India, Several Industries like the sugar industry, textile industry, agricultural products
processing units, dairy industry, small and cottage industries, etc. have been established, under
corporate entrepreneurship.
 5. Traditional or Evolutionary Entrepreneurship
 When the production in any enterprise is on the basis of traditional methods, the pace of
changes is very slow and attention is not paid on research and development activities, it is
known as traditional entrepreneurship.
The main features of such types of entrepreneurship are as follows:
1. The traditional entrepreneurs believe in the natural pace of development.
2. They do not like to take excessive risks.
3. They pay attention to innovations.
4. Such entrepreneurs do not prefer having any new thing or installing new machinery etc.
5. Such entrepreneurs have the tendency to enter only into existing industries

 In India, mostly these types of entrepreneurship are evident.

 6. Modern or Revolutionary Entrepreneurship
 In contrast to traditional entrepreneurship, when the entrepreneurs formulate
schemes involving high risks, take brave decisions and use new techniques of
production and expand the enterprise with fast speed, such entrepreneurship is
called Revolutionary entrepreneurship.
 In the modern age, most of the educated youth believe in Revolutionary
entrepreneurship.
 Some countries like Russia, China, and Eastern Europe, etc. have the highest
level of their Industrial Development only through Revolutionary
entrepreneurship.
 7. Centralized Entrepreneurship
 When most of the Enterprises tend to be established in one place or area.
 Due to the availability of basic infrastructure facilities, like water, electricity, roads, means of
transportation, communication. Favorable location and due to the establishment of earlier units
at the place, etc.
 Such Entrepreneurship is called centralized entrepreneurship.
 In other words, when even the new entrepreneurs also prefer to establish the industries or
doing some other works in the industrially developed areas, to take advantage of available
facilities, this is known as centralized entrepreneurship.
 From the viewpoint of economics, the profitability of centralized entrepreneurship is only up
to a certain extent.
 Thereafter, several problems and obstacles arise
 8. Decentralized Entrepreneurship
 When the entrepreneurs establish enterprises at various places, parts, and areas
of the country, that is known as decentralized entrepreneurship.
 Such types of entrepreneurship aim at planned development, 
development of backward areas, Employment generation and equitable
distribution of income and wealth.
 The governments provide various facilities, subsidies, and motivations for
encouraging decentralized entrepreneurship.
 As a result, the overall development of society is facilitated.
 9. Small Entrepreneurship
 The Enterprise in which the production system is simple, capital investment, number of workers
and the size of the enterprise is small, which is known as the small entrepreneurship.
Following are the features of small entrepreneurship:
o Small entrepreneurship is labour intensive.
o This is the important base of decentralization of economic power, self-reliance, employment,
balanced regional development and proper use of local resources.
 Small entrepreneurship is used for the operation of rural and small industries. Development of
rural and cottage industries in the country is facilitated by small Entrepreneurship and local
people are the benefit of better employment opportunities
 10. Medium Entrepreneurship
 There is a point where an entrepreneur doesn’t have too much
finance for the company. Or maybe a growing company called
medium entrepreneurship
 11. Large Entrepreneurship
 As against small entrepreneurship, when the production system is complicated, a higher amount
of capital is invested, the number of workers is more, size of the enterprise is big, production is
in large quantity, modern and machinery and techniques are used and Enterprises is operated by
professional manager, that is called large entrepreneurship.
 In India, Tata Birla, Dalmiya, Bangar, Sarabhai, Ambani, etc. are large entrepreneurs.
 Various basic of such types of entrepreneurship, like Iron and Steel Industries, engineering
goods, chemical Industries, electrical appliances Industries, cement factories, coal best plants,
etc.
 Large entrepreneurship, on the one side, provides employment to a large number of people, but
on the other side, it also encourages monopolies and other evils, which are not conducive for
society and economy
 12. Routine Entrepreneurship
 Routine entrepreneurship implies managerial functions, like planning,
organization, direction, motivation, and control, etc. Which are essential parts of
the day to day activities?
 In other words, it includes successful management of the enterprise, through
suitable planning, decisions, and programs, as the main functions.
 Routine Entrepreneurship aims at the operation of the enterprise at the lowest
cost and with the lowest risks.
 13. New Type Entrepreneurship

 The new types of entrepreneurship mean innovative or creative

entrepreneurship. Such types of entrepreneurship include creation
and implementations of new ideas, a search for new opportunities,
use of new techniques and machinery, and production of new
commodities, etc.
 14. Individual Entrepreneurship
 When all functions of management and operation of any business are performed only by one
single individual, it is called as individual entrepreneurship.
 In other words, the Entrepreneur who performs the following functions is called individual
leadership:
1. Taking all decisions regarding the production and distribution of commodities.
2. Leadership and control of the enterprise are only in the hands of an individual.
 Such types of entrepreneurship are only possible in small industries and not in large industries
 15. Group Entrepreneurship
 Such entrepreneurs are called ‘promoters’ also. In such entrepreneurship, leadership is
transferred from one individual to the organized group of experts. So it is called group
entrepreneurship.
Following are the salient features of group entrepreneurship:
1. Entrepreneurship is based on the ‘technical composition’ of society.
2. This entrepreneurship has emerged, due to various reasons, like production in high volume,
the division of labour, mechanization, modernization, etc.
3. The person to whom leadership is transferred is usually not the owners of the enterprise.
 Group leadership contributes to the fast pace of industrial development. But, such entrepreneurs
do not invest capital in backward areas, because they do not visualize any prospects of returns
in such areas, due to lack of infrastructural facilities.
 16. Innovative Entrepreneurship
 Innovative entrepreneurship implies quick testing of innovations and making efforts to give
practical shape to attractive possibilities.
Innovations are of various types:
1. Innovations reducing costs, like the presentation of new production methods,
the use of new sources of raw material, and adopting new patterns of
organization.
2. Innovation generating demand, like the presentation of the new commodity or improved
variety of the commodity and entry into new markets.
 The entrepreneur adopting aforesaid types of innovations for the first time is called as the
entrepreneur with ‘innovative entrepreneurship‘.
 17. Imitative Entrepreneurship
 Imitative entrepreneurship is that in which the innovations adopted
by successful entrepreneurs are followed.
 18. Fabian Entrepreneurship
 This is entrepreneurship, which waits for favorable and
opportunities for implementing the innovations.
 The person implements them only when he is sure that there is no
loss in implementing them
 19. Drone Entrepreneurship
 This is the entrepreneurship which shows no interest in changing
any production techniques, etc. and in deducting any profitable
innovation, etc.
 Although other entrepreneurs might be subsequently gaining by
adopting innovations and changes.
 20. Urban and Rural Entrepreneurship
 When the Development of entrepreneurship is Limited only to cities, it is known as urban
entrepreneurship.
 Such types of entrepreneurship cause various problems, like pollution, overcrowding, slum
areas, social offenses, and housing problems, etc.
 When the Entrepreneurship is developed in small villages and towns, it is known as rural 
entrepreneurship, which has several advantages, like poverty eradication, economic
development of villages and equitable distribution of wealth, etc.
 21. Systematic Entrepreneurship
 Systematic entrepreneurship means such entrepreneurship where the
innovative system is carried out by the Entrepreneurs and they
perform the following functions:
1. The search for new customers, new markets and new opportunities.
2. They comply with systematic principles.
3. They use systematic research technologies.
 ENTREPRENEURSHIP ACCORDING TO SCIENCE

 According to Peter Drucker, ‘Entrepreneurship is defined as ‘a systematic

innovation, which consists in the purposeful and organized search for changes
and it is the systematic analysis of the opportunities such changes might offer
for economic and social innovation.’
 Entrepreneurship is a process. It is not a combination of some stray incidents. It
is the purposeful and organized search for change, conducted after systematic
analysis of opportunities in the environment.
 Entrepreneurship is a philosophy- it is the way one thinks, one acts and
therefore it can exist in any situation be it business or government or in the field
of education, science and technology or poverty alleviation or any others.
ENTREPRENEURSHIP ACCORDING TO TYPE OF BUSINESS

 CLASSIFICATION OF ENTREPRENEURS ACCORDING TO THE

TYPE OF BUSINESS
1. BUSINESS ENTREPRENEURS
Business entrepreneurs we those who conceive an idea to for a new product or
service and then create a business to convert their ideas into reality. These
entrepreneurs may be found in small business units or big enterprises. They
concentrate both on production and marketing activities. Example: A Printing
Press, bakery or a textile unit.
2. TRADING ENTREPRENEURS
Trading Entrepreneurs are those who undertake trading activities. These entrepreneurs do not concentrate
on manufacturing activities. They give more emphasis on distribution and marketing of goods. They identify
potential markets, create demand for the product and influence people to buy the product. Example: Agents and
Wholesalers.

3.INDUSTRIAL ENTREPRENEURS

Industrial Entrepreneurs are those who concentrate in industrial and production activities. Trey identify the
needs of the customers and manufacture a product according to their needs. They are generally a product-
Oriented entrepreneur. Example: A manufacturer of Automobile spare parts, computer accessories.

4. CORPORATE ENTREPRENEUR
Corporate entrepreneurs are those who exhibit innovative skills in organizing and managing corporate
undertaking. Example: A Trust registered under the Trust Act.
5. AGRICULTURAL ENTREPRENEUR
An agricultural entrepreneur is one who concentrates on agricultural activities. These entrepreneurs concentrate on
activities like raising agricultural production, marketing of fertilizers etc

6. RETAIL ENTREPRENEURS
Retail entrepreneurs are those who undertake trading activities. They have direct contact with customers
and hence they are customer oriented. Example: An entrepreneur running a departmental store

7. SERVICE ENTREPRENEUR
A service entrepreneur is one who provides services to customers. They make profit by rendering
services. Example: An entrepreneur running a hotel or dry cleaning unit.

8. SOCIAL ENTREPRENEUR
A social entrepreneur is one who provides importance to the society by serving them. He concentrates on
social issues and does not aim to make profit. Example: A person running an orphanage.
 Entrepreneurship According to
Personality Type
 Your business personality type encompasses the traits and characteristics of your personality and
how well those traits blend with the needs of the business. Several common personality types
thrive in an entrepreneurial environment. 
Nine common types of entrepreneur personalities are described below. Begin by identifying your
dominant personality traits so you can understand how you operate in your business and what you
may need to do to become even more successful.

1. The Improver
If you operate your business predominately in the Improver mode, you focus on using your company
as a means to improve the world. Your overarching motto is: Morally correct companies will be
rewarded when working on a noble cause. Improvers have an unwavering ability to run their business
with high integrity and ethics.
Personality alert: Be aware of your tendency to be a perfectionist and over-critical of employees and
customers.
2. The Adviser
This business personality type will provide an extremely high level of assistance and advice to customers. The Adviser's
motto is: The customer is right and we must do everything to please them. Companies built by Advisers become customer
focused.
Personality alert: Advisers can become totally focused on the needs of their business and customers that they may ignore
their own needs and ultimately burn out.

3. The Superstar
Here the business is centered around the charisma and high energy of the Superstar CEO. This personality often will cause
you to build your business around your own personal brand.
Personality alert: Can be too competitive and are often classified as workaholics who find it difficult to take a vacation or 
step away for a break.

4. The Artist
This business personality is the reserved but highly creative type, and is often found in businesses demanding creativity
such as web design and ad agencies. As an Artist sort, you’ll tend to build your business around your unique talents and
creativities.
Personality alert: You may be overly sensitive to your customers’ responses even if the feedback is constructive.
5. The Visionary
A business built by a Visionary will often be based on the future vision and thoughts of the founder. You will have a
high degree of curiosity for understanding the world around you and will set-up plans to avoid the landmines.
Personality alert: Visionaries can be too focused on the dream with little focus on reality. Action must proceed vision

6. The Analyst 
If you run a business as an Analyst, your company is focused on fixing problems in a systematic way. Often the
basis for science, engineering or computer firms, Analyst companies excel at problem solving.
Personality alert: Be aware of analysis paralysis. Work on trusting others

7. The Fireball
A business owned and operated by a Fireball is full of life, energy, and optimism. Your company is life-energizing
and makes customers feel that the company can get it done in a fun, playful manner.
Personality alert: You may over-commit your teams and act too impulsively. Balance your impulsiveness with
business planning.
8. The Hero
You have an incredible will and ability to lead the world and your business through any challenge. You are the
essence of entrepreneurship and can assemble great companies.
Personality alert: Over-promising and using force full tactics to get your way will not work long term. Trust your 
leadership skills to help others find their way.

9. The Healer
If you are a Healer, you provide nurturing and harmony in your business. You have an uncanny ability to survive
and persist with an inner calm.
Personality alert: Because of your caring, healing attitude toward your business, you may avoid outside realities
and use wishful thinking. Use scenario planning to prepare for turmoil.

 Each of these business personality types can succeed in the business environment if you stay true to your
character. Knowing firmly what your strong traits are can act as a compass for your small business. If you are 
building a team, this insight is invaluable. For the solo business owner, understand that you may need outside
help to balance your business personality.