Entrepreneurship
The process by which a new project is created capable of producing goods and services, a process by which great ideas are transformed into reality that brings material and moral profits to the entrepreneur
What are the types of entrepreneurship
In today’s world, it can be said that most businesses are small enterprises. 99.7% of all companies in the United States are small businesses, employing 50% of all non-governmental workers. This type of entrepreneurship is barely profitable, and its members make small profits that cover their expenses and ensure that they support their families. Small businesses lack the ability to attract venture capital as they are often financed by family and friends or small business loans. Examples of small businesses include small shops, groceries, barbershops, consultants and self-employed craftsmen.
In this type of entrepreneurship, entrepreneurs create their own companies believing that their outlook and ideas will change the world. They receive funding from venture capitalists. They seek to find a repeatable business model, and once they find it they will need more funding so that they can develop their projects and take them to the next stage. Scalable entrepreneurship makes up a tiny percentage of the business world because of its significant capital risk. As an example, we find successful companies such as Facebook, Instagram and various online shopping platforms.
This type of leadership is characterized by constant innovation, always introducing new products centered around the original main product. These products are constantly being developed to match the changing needs of consumers and the prevailing technological advances. This type of business often expands through partnerships or the purchase of other innovative companies. Examples of large entrepreneurship companies include: Google, Microsoft, Samsung… Etc.
Social entrepreneurship emerges when an entrepreneur tries to create products or services that solve existing social problems. In this case, it aims to make the world a better place and not to make profits and material wealth. They may come in the form of for-profit or non-profit companies or a combination of both. An example of this kind of leadership is Safepoint Trust, a British organization founded by Marc Koska, which works to redesign medical instruments and provide medical clinics and health centers around the world with low-cost, non-reusable injections. It has been able to provide more than 4 billion safe injections in more than 40 countries around the world.
