Types of Entrepreneurs

Types of Entrepreneurs

There are many categorizations but we use one that categorizes entrepreneurs into crafts entrepreneurs, opportunity entrepreneurs and ego-oriented entrepreneurs.

(a)               Craft Entrepreneurs

• This type exploits and utilizes personal skills without expanding their business
• Usually the skill is learnt from a technical institution and through an apprenticeship system
• This type is survival driven; it is also product oriented and they typically employ 0-5 persons
• They are resource based generally they contribute to new ideas; innovations and they also add value to their products
• 95% of the Kenyans belong to this category.

(b)               Opportunistic Entrepreneurs

• This type does not expand the business and the business grows only as far as the owner coordinate them
• He is interested in business growth and expansion
• This type is ellegated to one business and others
• Utilizes professional staff
• He is opportunity oriented (sees and grabs many opportunity as they come)
• He is not resource based
• He is a good network
• Only 5% of Kenyan entrepreneurs fall in this category yet it is category that most government and development thinkers promote.

(c)                Ego-oriented entrepreneurs

• This type can either be craft/opportunists but they are in business to be recognized meaning they are too showy, flamboyant
• These people like to be driving cars, living in posh areas and they want their superiority to be recognized
• Their businesses grow as far as owners can control them
• Working for them can be very difficult, because they perceive job as a favour for them.