Entrepreneurs can be classified on different bases. These classifications are not mutually exclusive, meaning one entrepreneur can belong to more than one category.
ON THE BASIS OF NATURE OF THE ENTERPRISE
1. Trading Entrepreneur
Acts as a middleman between producers and consumers.
Engages in buying and selling of goods or services.
Does not produce goods on their own.
Procures goods from manufacturers or wholesalers.
Makes goods available to final customers.
Focuses on distribution, storage, transport, and marketing.
Examples: retailers, wholesalers, shop owners, online traders.
2. Manufacturing Entrepreneur
Involved in production of goods.
Identifies customer needs and market demand.
Converts raw materials into finished or semi-finished goods.
Organizes resources like land, labour, capital, and machinery.
Fills the gap between supply and demand.
Contributes to industrial and economic development.
Examples: factory owners, garment manufacturers, food processing units