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Types of Entrepreneurship: Small Business, Scalable Startup, Large Company, Social Entrepreneurship

   

Added on  2021-06-17

3 Pages603 Words219 Views
I .What Is Entrepreneurship ?The practice of ideating, developing, launching, and running a business venture alongwith its financial risks is called entrepreneurship.It is very important for the economic development of the expanding global marketplace, especial in VietNam. A person who undertakes entrepreneurship is called an entrepreneur.Generally, starting your own business is a tough proposition as 90% of startups fail each year. However, it comes as no surprise that more and more people choose to be independent in their professional careers. In fact, 2 out of 3 people worldwide think entrepreneurship is a good choice.Majority of the people think that entrepreneurship has just one meaning. But there are different types of entrepreneurship as described below:II. Types Of Entrepreneurship1. Small Business EntrepreneurshipIn today’s world, the majority of businesses are still small businesses. In the U.S, 99.7% of all companies are small businesses and they employ 50% of all non-governmental workers.They are mostly barely profitable, but they make profits only to make a living and support their families. Such businesses lack the scale to attract venture capital and they are funded via friends/family or small business loans.Examples of small business entrepreneurship include hairdressers, grocery stores, electricians, carpenters, plumbers, consultants, etc.2. Scalable Startup EntrepreneurshipIn this type of entrepreneurship, entrepreneurs start their company believing that their vision can change the world. Their funding comes from venture capitalists and they hire the best employees. Finding a scalable and repeatable business model is their goal. Once they find it, further funding from venture capitalists is required for growing their business.Scalable startups only make up a small proportion of all businesses due to the risk capital and outsize returns.

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