Entrepreneurs Come In All Shapes And Sizes

Changes in the economy, the effects of technology, greater job insecurity, an ageing workforce and changing lifestyles are prompting more and more people to start their own business. The resultant entrepreneurs come in all shapes and sizes and start all kinds and types of new ventures.

It isn’t, however, as simple as it may seem as people who start their own business have many reasons for doing so and motivations for making it work, regardless of the obstacles faced.

Entrepreneurs differ in why they start a business, how they start and the type of business they start; they differ in what they want for the business and what they want from the business.

They have different ambitions, behaviours, habits and motivations; similarly, they have different customers, markets and products and enjoy different levels of success and, at times, failure.

People who start their own business are as different from each other as any other group and can’t be understood by assuming they represent one homogenous collective.

Understanding the differences between different entrepreneurs is vital for government to develop the right policies to ensure business owners have the support they need to start new businesses.

The alternative is to accept the clichéd image of an entrepreneur as a maverick risk-taker and ignore the fact that the vast majority work quietly to build successful and often modestly understated businesses.

In order to understand the entrepreneurs that surround us and appreciate why they create the jobs and the wealth society needs to function, it is useful to consider their characteristics.

Some entrepreneurs are driven by a desire to start and grow their business to a considerable size and export all around the world; others are happy to start a business with a small number of people and not seek significant growth or to employ a large number of staff.

Other entrepreneurs are driven by their own particular skills or talents and motivated by the need to express themselves and make a difference; others simply want to survive and make a modest living that enables them to look after their family and enjoy a sense of security.

Some entrepreneurs see self-employment as a way to be independent and free to work as their own boss in a way that provides a comfortable lifestyle; others want to be part-time entrepreneurs and simply make extra money while still working in a full-time job.

Understanding the differences and the different needs of entrepreneurs is increasingly important, as more people start their own business and change the profile of the business owner and the economy.

SO, entrepreneurs work hard to create the businesses and jobs we need to ensure a vibrant economy but they differ from each other just as much as the rest of us.