Types of Entrepreneurial Ventures and Their Similarities and Differences

Entrepreneurship and Small
Business Management

Different types of entrepreneurial ventures and it relate to
typology of entrepreneurship
 Entrepreneur- Entrepreneur is the person who sets up the businesses and
responsible for all potential risks and taking on financial risk in hope of
profitability .Entrepreneur set up their business with innovative and great ideas that
recognises need for creation of the venture.
 Entrepreneurship- Entrepreneurship is the activity held by entrepreneur for
setting up the new businesses and invest money in hope of increasing profit. In
short it is the procedure of running, launching and designing new business which is
often initially the small or medium size business.
 Entrepreneurial venture- Entrepreneur is the individual who runs and starts the
business with limited planning and resources, he or she is responsible for all
rewards, profit and risks of business venture.
 Enterprise- It is a business specially the organization that will earn money for
running their business and daily operations successfully.

Differences and similarities between various types of entrepreneurial ventures
Similarities bases Established company Small size social venture Large size social
venture
High Growth firms
Creative idea These companies
constantly focus on
creating new things and
make some changes in
their existing which helps
to grab the attention of
customers (Obeng, Robson
and Haugh, 2014). As
similar to the other firms
TESCO management bring
creative ideas which is
beneficial for them.
Just like the established
companies’ small social
ventures also efforts to
run their business
effectively with the help
of creative ideas.
Large size social
venture such as Red
Cross focus on
creating new ideas in
order to serve its best
to peoples and make
them fir and healthy
in their lives.
High growth companies
for example, Facebook
already has built their
higher position within
market with the help of
creative ideas in order to
gain profitability and
maintain its reputation.
Funding sources TESCO take funds for
running their business
from banks and investors.
Just like another
company funeral care
also required to take
funds from some
business investors.
Large size social
venture gathers funds
via events and
campaigns related to
social well fare.
On the other side like the
small, large and
established company’s
high growth firm also
take loans for
implementing new
technologies.