CLASSIFICATION, TYPES AND

QUALITIES OF ENTREPRENEURS

CLASSIFICATION OF ENTREPRENEUR
ON THE BASIS OF TYPE OF BUSINESS
1.

Business entrepreneurs:-who start business units after developing

ideas for new products/services.

2.

Trading entrepreneurs :-who undertake buying & selling of goods,

but not engage in manufacturing.

3.

Corporate entrepreneurs:-who establish and manage corporate form

of organization which have separate legal existence.

4.

Agricultural entrepreneurs:- who undertake activities like raising

and marketing of crops, fertilizers and other allied activities.

ON THE BASIS OF STAGES OF DEVELOPMENT

1. First generation entrepreneurs:-who do not possess any
entrepreneurial background. They start by their own innovative skills.
2.

Second generation entrepreneurs:-who inherit the family business

and pass to next generation.

3. Classical entrepreneurs:-who aims to maximize his economic returns

at a level consistent with the survival of the unit with or without an
element of growth.

ON THE BASIS OF MOTIVATION

1. Pure entrepreneurs:-who are basically motivated to

become entrepreneurs for their personal satisfaction, ego
etc.
2. Induced entrepreneurs:- who are induced to take up
entrepreneurial role by the assistance and policy of
government including incentives, subsidies etc.

ON THE BASIS OF TECHNOLOGY

1. Technical entrepreneurs:- who are task oriented and
craftsman type. They prefer doing to thinking.
2. Non-technical entrepreneurs:- who are not concerned
with technical side, but rather with marketing and
promotion.
3. Professional entrepreneurs:- who start a business unit,
but later sell the running business and start a new unit
later.

ON THE BASIS OF CAPITAL OWNERSHIP

1. Private entrepreneurs:- individual or group set up

enterprise, arrange finance, share risk etc.
2. State entrepreneurs:- means the trading or industrial
venture undertaken by the state or the government itself.
3. Joint entrepreneurs:- the combination of private and
government entrepreneurs.

 OTHER CLASSIFICATIONS
ON THE BASIS OF GENDER AND AGE
1. Man entrepreneurs.
2. Women entrepreneurs.
3. Young entrepreneurs
4. Old entrepreneurs
5. Middle-aged entrepreneurs
ACCORDING TO AREA
1. Urban entrepreneurs
2. Rural entrepreneurs

ACCORDING TO SCALE
1. Large scale entrepreneurs
2. Medium scale entrepreneurs
3. Small scale entrepreneurs
4. Tiny scale entrepreneurs
OTHERS
1. Spiritual Entrepreneur
2. Social entrepreneurs
3. Edupreneurs

TYPES OF ENTREPRENEURS

Self-Employed

Team Builders

Inventors

Pattern Multipliers

Economy of Scale Operators

Acquirers

Speculators

Internal Entrepreneurs

QUALITIES OF AN ENTREPRENEURS
Non-Conformist
Risk-taken
Flexible
Hard-working
Goal-setter
Enthusiastic
Optimistic
Resourceful
Independent
Hard working
Strong leader

PASSION FOR WORK

Sense of optimism

Sense of purpose

Sense of challenge

Sense of ownership whatever you do

Entrepreneurial success is a highly collaborative

process

KEY INGREDIENTS FOR

ENTREPRENEURSHIP

Personal characteristics

Technical know-how

Marketable Idea

Contacts for Assistance

Financial Resources

Potential customers

Supportive Life-style

Personal Motivation

Leadership Experience

CREATIVITY

A new way of thinking about everything

Openness to change

Willing to try new things

Persistence in seeking possibilities

Open to brainstorming ideas

Dedication to doing it better

Thinking about what you see and hear

CONCLUSION

It is often said that economy is the effect for which

entrepreneurship is the cause". The development of economy is
usually associated with its industrial development. An
entrepreneur is a person who organises the factors of
productions-land, labour and capital, and establish a business
venture and carries out the operations in the business in a
profitable manner.