The difference between entrepreneurship and small business

Cards (15)

  • An entrepreneur is someone who identifies opportunities and takes risks to start a new business venture. They are driven by the desire to innovate and create something new, often with the goal of making a profit.
  • Unlike a small business owner, an entrepreneur focuses on growth and scalability, aiming to build a company that can expand and impact a larger market.
  • Entrepreneurs tend to take big risks, have big-picture visions, and want to make a difference
  • Small business owners are often happy filling a need locally and supporting themselves.
  • A small business owner typically starts a business within their local area to provide a service to a specific target audience. 
  • Small business owners deliver specialized products or services to those who need it in a specific community.
  • Entrepreneurs love thinking about new technologies that will scale their businesses or be the next big thing. 
  • Entrepreneurs may not have such a narrow view of their target community and hope to extend to several different groups and locations, even on a national or global level.
  • What separates a small business owner from an entrepreneur is the way they think about their company and how they approach business.
  •  Entrepreneurs take big risks and are focused on high, fast growth.
  • Small businesses can be risky to start, but they usually have a modest trajectory based on available resources and grow steadily as they gain customers and get the word out about their services.
  • A small business is a limited scale business owned and operated by an individual or a group of individuals.
  • An entrepreneurship is defined as the process of designing, launching and operating a new business, which usually starts as a small business and pursues growth.
  • Business expansion is very limited in small business since the owners are not exploring new opportunities.
  • Entrepreneurships are subjected to fast business expansion.