Classification of Entrepreneurs according to the type of Business
According to the type of business, entrepreneurs shall be classified as Business Entrepreneurs,
Trading Entrepreneurs, Industrial Entrepreneurs, Corporate Entrepreneurs, Agricultural
Entrepreneurs, Retail Entrepreneurs, Service Entrepreneurs and Social Entrepreneurs.
Types of Entrepreneurs
1. Business Entrepreneurs
Business entrepreneurs we those who conceive an idea to for a new product or service and then
create a business to convert their ideas into reality. These entrepreneurs may be found in small
business units or big enterprises. They concentrate both on production and marketing activities.
Example: A Printing Press, bakery or a textile unit.
Business entrepreneur: Business entrepreneurs are individuals who conceive an idea for a new
product or service and then create a business to materialize their idea into reality. They may set up a
big establishment or a small business unit. They are called small business entrepreneurs when found
in small business units such as printing press, textile processing house, advertising agency,
readymade garments or confectionery.
2. Trading Entrepreneurs
Trading Entrepreneurs are those who undertake trading activities. These entrepreneurs do not
concentrate on manufacturing activities. They give more emphasis on distribution and marketing of
goods. They identify potential markets, create demand for the product and influence people to buy
the product. Example: Agents and Wholesalers.
Trading Entrepreneur: The trading entrepreneur is one who undertakes trading activities and is not
concerned with the manufacturing work. He identifies potential markets, stimulates demand for his
product line and creates a desire and interest among buyers to go in for his product line and creates
a desire and interests among buyers to go in for his product line and creates a desire and interests
and buyers to go in for his product. He is engaged in both domestic and overseas trade.
Britain, due to geographical limitations has developed trade through trading entrepreneurs.
3. Industrial Entrepreneurs
Industrial Entrepreneurs are those who concentrate in industrial and production activities. Trey
identify the needs of the customers and manufacture a product according to their needs. They are
generally a product-Oriented entrepreneur. Example: A manufacturer of Automobile spare parts,
computer accessories.
Industrial Entrepreneurs: Industrial entrepreneur is essentially a manufacturer who identifies the
potential needs of customers and tailors a product or service to meet the marketing needs. He is
product- oriented man who starts in an industrial unit because of the possibility of some new
product.
4. Corporate Entrepreneur
Corporate entrepreneurs are those who exhibit innovative skills in organizing and managing
corporate undertaking. Example: A Trust registered under the Trust Act.
Corporate Entrepreneur: Corporate entrepreneur is a person who demonstrates his innovative skill in
organizing and managing corporate undertaking. A corporate undertaking is is a form of business