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important. They contribute to the development of underdeveloped
economies.
3. Fabian Entrepreneurs:
The third types are the Fabian Entrepreneurs. Such entrepreneurs
are very shy and lazy. They are very cautious. They do not venture or
take risks. They are rigid and fundamental in their approach. Usually,
they are second generation entrepreneurs in a family business
enterprise.
4. Drone Entrepreneurs:
The fourth type is the Drone Entrepreneurs, who refuse to copy or
use opportunities that come their way. They are conventional in
their approach. They are not ready to make changes in their existing
production methods even if they suffer losses. They resist changes.
Types of Business Depending on the nature, size and type of business,
entrepreneurs are divided into five categories:
1. Business Entrepreneur:
Business entrepreneurs are those who develop an idea for a new
product or service and then establish an enterprise to materialize
their idea into reality. Most of the entrepreneurs belong to this
category because majority of entrepreneurs are found in the field
of small trading and manufacturing concerns.
2. Trading Entrepreneur:
Entrepreneurs who undertake trading activities whether
domestic or overseas are Trading Entrepreneurs. They have to
identify the potential market for his product in order to stimulate
the demand for the same.
