The concept of entrepreneurship does not confine to owning the business and then playing your role in performing its functions. Rather the entrepreneurial ventures include every firm whether big or small. All of them are contributing to the economy of their country.
Here are some of the various types of business organizations that are standing as a result of an idea of the founder. I have just come across the Field Marsham Foundation and explored a lot about entrepreneurial ventures.
Small businesses include any company which has a fewer level of employees. It can be a private funded institution, a restaurant, a department store, or small level service providers. Small businesses usually have the back-end support of the owner. Moreover, such individuals do not have any intention of converting their small level of business into a large organization that is vertically or horizontally integrated with franchises or whatnot. Know that even a small grocery present in one region could also have its chain extensions in many other regions. The only success of the small businesses is when it starts generating money.
Scalable startups are rare yet they are the main focus of media. Know that such businesses started from a smaller scale than small businesses. A minor idea turns into a business, which is mainly funded by investors from outside, including many external stakeholders.
You may have heard about Silicon Valley. Similar is the case of scalable startups, starting from a very small room or even a garage and ending up setting headquarters somewhere in the world.
Whenever we talk about the business world, the name of Richard Branson remains on top.
Large companies have also once started from a very small scalable business. However, their vision is even bigger. Such companies have invested their capital into what is relatively important. When there is a high demand for the product in the marketplace, it will surely generate high streams of income.
It is noteworthy that such companies have their base in some of the relevant expertise. Like the company dealing in technology, many head forward towards the production of innovative laptops when research shows that there is a need for those laptops in the marketplace. This is how large companies grow.
Social entrepreneurs are there to provide all the viable solutions through their innovative ideas to the community. They cast a positive impact on society by helping those in need. Generating profits is just a secondary option available to them. I would suggest reading more about the Field Marsham Foundation to gain considerable insights.
Entrepreneurship is just another name for taking the risk to convert an idea into a business. The viable ideas will then convert into business ventures ranging from small to large-scale business organizations. All such businesses we have seen converting into empires were once funded with investors, banks or any help from loans. Building a business requires capital and determination. If you have the capital but no determination, there is a chance that your business will not prosper.