Different Types of Entrepreneurial Ventures and Their Relationship with Typology of Entrepreneurship

ENTREPRENEURSHIP
AND SMALL BUSINESS
MANAGEMENT

Different types of entrepreneurial ventures and explain
how they relate to the typology of entrepreneurship
 An entrepreneurship is a kind of a process in which a new business is designed,
launched and run by an Entrepreneur by using skills, characteristics, resources and
taking huge risk so that they can run their own successful business.
 Entrepreneur is quite different from intrapreneur. Intrapreneur is an employee of an
organization and is paid to work within an organization for business success and prefers
to take least amount of risk whereas Entrepreneur is a person who runs a new business
by taking a considerable amount of risk.
 There are various kinds of typologies of entrepreneurship, such as: female, serial,
lifestyle entrepreneurship and many more.

Conclusion...
There are majorly three main types of entrepreneurial ventures. These three main
types of entrepreneurial ventures and their relationship with entrepreneurship typology
have been explained below:
 Private entrepreneurship:
 It is a simplest form of an enterprise. It is controlled, owned and managed by a single
individual or group of individually personally with a single motive for generating revenue and
profit (Yusup, Rusmana and Rejeki, 2019).
 Private entrepreneurship is mostly started as a sole proprietorship which does not involve
much legal procedure. These types of enterprises mostly start from a micro enterprise but with
continuous innovations or innovative ideas it can convert micro scale organization to a large
size enterprise.
 It can be related to serial and female entrepreneurship topology. This is majorly because today
most of the women focus upon starting their own business in order to become independent
and run their own enterprise.
 According to a statistic more than 30 percent private enterprise are run by female serial and
female entrepreneurs. It can also be linked to lifestyle topology as well because this type of
topology do not require a physical location and can work online as well. For example:
Richard Brandon.

Conclusion...
 Public entrepreneurship:
 It is about doing what it takes to get the right outcome. These enterprises focus upon
involving innovations of those who combine public and private resources in pursuit of their
social objectives.
 This entrepreneurship came into picture because of all the challenges that were faced for
public services and increasing complexities of the society (Septyanto, Anom and Dewanto,
2019).
 These types of enterprises are majorly managed and controlled by government or by
partnership within government of a country.
 This type of entrepreneurship can be linked serial entrepreneurship as in order to provides
products and services to public they need to think of new ideas and implement them within
the organization so that organization can not only provide products and services to public as
per their needs and requirements but can also generate revenue which can further contribute in
overall economy of a country. For example: State economic corporation.