Types of Entrepreneurial Ventures and Their Impact on the Economy

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Entrepreneurship is an activity of creating wealth for self as well as for businesses and society in order to
raise the standard of living. There are mainly four types of Entrepreneurial venture they are as follows:
Social Entrepreneurship is one of the types of entrepreneurial venture which focuses on solving the social
issues and problems. The Entrepreneurs set the business in order to solve the problems which are related to society
such as access to money, food and education. Main aim of social entrepreneurs is to make the world better as well as
earn the money for running the business successfully. The Social Entrepreneurs are also known as non profit
Organisation as they provide solution to cultural, environmental and social issues. They generally have a potential to
solve the issues related to community and satisfy the people so that they can live happily. The Example of Social
Entrepreneurship includes educational programs, helping children orphaned by epidemic disease and providing
banking services in underserved areas.
Small Business Entrepreneurship is another type of entrepreneurial venture that run their business
independently at small level in order to fulfil the daily expenses and support family. The small business
entrepreneur’s focuses on providing new offering and innovative products to customers so that they can satisfy the
need and requirement of people. They have a control on the business even if any loss occurs they have to deal
themselves. The Small business entrepreneurs generally take a high risk to establish the new venture at small level
and also they contribute in the economy of Country. Examples of small business entrepreneurs are bakeries, small
manufacturing unit, grocery stores and medical stores.
Scalable Entrepreneurship is also a type of entrepreneurial venture which run their business on the basis of
innovative and unique idea. The entrepreneurs start their business with an aim to make some changes in World. They
generally raise fund from venture capitalist and hire the efficient employees in Organisation that can contribute their
productive outcomes. The Examples of Scalable Entrepreneurship is Instagram, Skype and Facebook.
Large Business Entrepreneurship is another type of entrepreneurial venture which is established at large
level with huge investment and risk. The main purpose of large business entrepreneurs is to fulfil the need and
demand of customers by developing product according to their taste and preference so that the growth and
profitability of business get increased and company can also gain competitive advantage. The Examples of large
business entrepreneurship is Samsung and Google.
Lifestyle Entrepreneur:
Lifestyle Entrepreneur main motive is to earn the huge profit and also fulfil their personal
goals. These types of entrepreneurs are linked with different entrepreneurial venture as the main
purpose of entrepreneurship is to earn the profit at large scale.
Serial Entrepreneur:
The main purpose of entrepreneurs is to bring a new business idea and focus on
implementing the idea in order to establish new business. The Serial entrepreneurs are also connected
with different entrepreneurial venture as they also focus on developing innovative and creative ideas
in order to maximise the profit and increase the growth of business.
Female Entrepreneur:
Female entrepreneurs involve the group of women who operate and run the business with
efficient and effective manner. It is not necessary that entrepreneurial venture are establish by men
only, women can also operate the business with confident and innovative way.
SMALL BUSINES ENTREPRENEURSHIP
Types of entrepreneurial ventures Typologies of Entrepreneurial Ventures