The terms ‘entrepreneur’ and ‘small businessman’ can be differentiated according to several criteria, but generally speaking, an entrepreneur will run a more significant scale business than a small businessman.
“An entrepreneur is someone who organizes, operates, and assumes the risk for business ventures.”
An entrepreneur will usually assume more responsibility from day-to-day affairs to ensuring that their venture does not fail. Typically, this would include creating a business plan with all the necessary elements such as market research, financial forecasting, etc. In addition, an entrepreneur will normally be responsible for raising any external finance required.
By contrast, a small businessman typically runs a type of service or retail operation made up mostly of one location. A good example would be a coffee shop, but this could also be in local tradesman services.
However as per William D King, it is essential to note that there are many differences between the two types of business around how they operate (and differences regarding legal factors).
An entrepreneur organizes, operates, and assumes the risk for business ventures, while a small businessman typically runs a service or retail operation made up mostly of one location. A good example would be a coffee shop. ‘Entrepreneurs’ will usually assume more responsibility from day-to-day affairs to ensuring their venture does not fail, among other things, while ‘small businessmen’ usually have responsibility for their work. The term ‘entrepreneur’ can be differentiated according to a number of different criteria, while the terms ‘small businessman’ and ‘large scale business’ are practically synonymous – they have almost identical definitions.
At the same time, an entrepreneur is someone who organizes, operates, and assumes the risk for business ventures while a small businessman runs a type of service or retail operation made up mostly of one location. A good example would be a coffee shop, but this could also be in local tradesman services. An entrepreneur typically will put together a business plan with all the necessary elements such as market research, financial forecasting, among other things. At the same time, a small businessman finds it difficult to raise any external finance required.
The word “entrepreneur” is derived from two French words, namely “enterprise” and “Prendre.” The word first came into use by the French in the 18th century. At that time, it was only used to refer to individuals involved in businesses that were on a large scale or had staff numbering more than twenty. Over the years since then, the term’s meaning has evolved so that today it refers to any individual who starts up their own business.A small businessman typically runs a type of service or retail operation made up mostly of one location says William D King. At the same time, an entrepreneur usually puts together a business plan with all of its essential elements, such as market research, financial forecasting, among other things. The term ‘entrepreneur’ can be differentiated according to a number of criteria, whereas the terms ‘small businessman’ and ‘large scale business’ are practically synonymous – they have almost identical definitions.
