Types of Entrepreneurial Ventures and Typology of Entrepreneurship

Entrepreneurship and Small
Business Management

Different types of entrepreneurial ventures and
typology of entrepreneurship
 Entrepreneurship refers to a business that is started by an individual for specific purpose.
The person takes high risk and effective decisions to start a business.
 Entrepreneur is responsible for managing and operating overall business activities.
Basically, entrepreneurial ventures are small size companies and they provide goods and
services at small level.
 However, it is analysed that there is difference between entrepreneur and intrapreneur
which is discussed as :-

CONT..
Entrepreneur Intrapreneur
A person who sets his own business
idea into concept.
It is an employee in organisation who is
responsible for innovating products,
methods, etc.
The resources used are owned and
self.
Here, resources are provided by the
company.
The capital is raided through several
sources of funding
Capital is provided by company.
In this whole risk is taken and
bearded by individual.
The risk is bearded by organisation.
The business is started to lead in
market.
It is done to change existing system or
redesign something new.

CONT..
There are different types of entrepreneurship ventures that exists within an economy. The size
and scale of operations of ventures depends on its type. Also, products and services offered by
them is based on that. They are as follows :-
 Private- they are those ventures which is privately owned. The main purpose is to earn
profits by offering products and services to customers. These ventures are owned by group
or individual. The scale of operation depends on their goals and objectives.
 Public- the ventures are usually owned by government. The main aim is to provide various
services to public at low cost to fulfil their needs. The services include health, education,
safety, etc.