Are Small Business owners entrepreneurs

A detailed Summary of Are Small Business owners entrepreneurs


To answer this challenging question, one must compare both entrepreneurs to small business managers or owners and entrepreneurial ventures to small businesses. One must also ascertain the meanings of the terms, entrepreneur and small business owner.

The definition of an entrepreneur is a commonly argued point, with several definitions having been given by many different people. The dictionary gives an entrepreneur as 'A person who engages in business enterprise, usually with some personal financial risk`. Under this definition, a small business owner could definitely be classed as an entrepreneur, as anyone who runs and owns their own business is taking risks with their finances every day of trading. However, this definition does not go into enough depth and only takes into account one trait of the entrepreneur's personality and behavioural patterns, which, according to most other sources, does not give the whole picture.

Risk-taking is one of the main characteristics attributed to entrepreneurs, one cannot introduce brand new ideas and practices into the workplace without bearing an element of risk, as one cannot be assured of the success of the innovative idea until it has actually been put into place. Mill (1848)


· Carland, Carland, Hoy & Boulton - "Differentiating Entrepreneurs from Small Business Owners: A Conceptualisation."

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Gleuck (1980) carried out research in family-run and owned small businesses

· Hournaday J.A & Aboud J. - Characteristics of successful entrepreneurs (1971)



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Approximate Word count = 1642
Approximate Pages = 7 (250 words per page double spaced)

Category: Miscellaneous

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