The Most Popular Types of Entrepreneurship

Entrepreneurship is one of the most popular and attractive topics of both business world and social life. It appears in many different forms of sectors and business models. Meanwhile, entrepreneurship types are also divided into different categories. What are the most common types of entrepreneurship? Which business models are examples of popular types of entrepreneurship?

What Is Entrepreneurship? 

In the most general sense, a business established to create opportunity, profit and value in a business field, usually with a low budget, is called an "enterprise". An "entrepreneur" is a person who embarks on this business, takes possible risks and provides employment to others. One of the most popular topics of recent years, enterprises operate in almost every sector and are divided into different types.

What Are Popular Types of Entrepreneurship?

Enterprises are divided into a few types depending on their different purposes, resources and business models. Here are four popular types of entrepreneurship:

1) Commercial Entrepreneurship

One of the most known entrepreneurship types is commercial entrepreneurship in both business and social life. In this model, the investment is made by an individual or individuals and the main motivation is to make a profit. Commercial enterprises that we encounter in various industries are established to meet a specific demand in a specific market and the main aim is about financial concerns. Consequently, short- and long-term goals are shaped accordingly. A shop, cafe or restaurant can be examples of commercial entrepreneurship.

2) Social Entrepreneurship

Startups founded for the benefit of society or the country as a whole are categorized as "social entrepreneurship". A social enterprise’s aims can be collective transformation, improvement, and raising awareness on social concerns. They operate with a sensitive perspective in areas that were previously unthinkable or that require courage. Social enterprises are divided into three: For-profit, non-profit and combined model. Otsimo is established for children with special educational needs and for their families and can be shown as one of the successful examples of social entrepreneurship.

3) Virtual Entrepreneurship

“Virtual entrepreneurships” are internet-based initiatives that affect both social and professional life, especially due to the COVID-19 pandemic. Today where the virtual activities are widespread, many startups that operate and produce online have been established or have grown. Especially the e-commerce sites are the most remarkable examples of virtual entrepreneurship both in our country and world. At this point, virtual entrepreneurship has two salient points: They cannot operate without the Internet and they can be set up with very low budgets.

4) Intrapreneurship

Intrapreneurship is among the hottest topics of recent years. Roughly, it can be defined as the generation of new projects and ideas by employees within a corporate structure without leaving the organization. In-house ventures are driven by employee happiness and profit motivation. They can be considered independent and related projects within the organization. With intrapreneurship, employee satisfaction and increasing the institution's value are aimed. One of the well-known examples of intrapreneurship in the world is the invention of the Playstation by a Sony employee in the 80s. 

Popular entrepreneurship types are among the most curious topics in the business world. In this article, we’ve covered the most frequent entrepreneurship types, their qualities and examples in real life. Don’t forget to check out other BTM content for more information on your company and business model!