Entrepreneurs vs Small Business Owner; what is the difference?


Published: December 2, 2019



According to Shobhit (2019), an entrepreneur is one who starts and runs a commercial enterprise with limited resources and is responsible for the risk and rewards of the business venture. The profitable idea is generally with a new product or service rather than one that is established and is a known business model — high returns sought with high uncertainty to the challenge. The entrepreneur has a willingness to risk all for the unforeseen profitability of the venture. The bring together personnel, financial resources to fund the venture that before the entrepreneur had no essence in any commercial undertaking until now. The marketing and management are different in that is has never been down before, over that of a small business person whose business built on some commercial project that has been tried and tested in the past and was somewhat successful; thus a calculated risk over that of the entrepreneur (Shobhit, 2019).

Shobhit continues that even if some of these functions or tasks outsourced, the concept is still the same; the risk still lies with the entrepreneur over that of a proven success path as the small business operator employes into his/her business strategy. Thus the difference between entrepreneurship and that of a small business person; the risk and unknows are different. So sound off, what is your take on the difference in the two; are they the same, or are they different? Now, which one are you?

References

Seth, Shobhit (2019). Entrepreneurs and Entrepreneurship Defined. Retrieved from https://www.investopedia.com/articles/investing/092514/entrepreneur-vs-small-business-owner-defined.asp