What Are the Different Types of Entrepreneurship?

If you want to be your own boss, follow your passions or work outside of a traditional corporate environment, entrepreneurship offers many opportunities.

Whether you’re looking to create a local business, launch a tech start-up or champion a cause, understanding the different types of entrepreneurship can guide you toward the right fit.

What is Entrepreneurship?

Entrepreneurship is the fun, creative side of business, according to Ann Sanok, an associate dean of business programs at Southern New Hampshire University (SNHU).

"Whether launching a startup, leading a family business or driving innovation within an established company, entrepreneurship combines creativity, strategic thinking, leadership and resilience to turn ideas into action," Sanok said.

According to the Center for American Entrepreneurship (CAE), entrepreneurship is the process by which an individual or group of people bring a new product or service to the market or improve upon an existing offer.

With the expansion of new technology making it easier for entrepreneurs to reach national and global markets, the work to solve consumer problems has grown significantly in recent years. According to the U.S. Department of the Treasury, in 2024, the United States averaged 430,000 new business applications per month — a 50% increase compared to 2019.

Recent months have seen greater numbers still, according to the U.S. Census Bureau, with 531,423 new businesses formed in June of 2026 alone. The bureau projects 29,741 of those businesses formed in June of 2026 to become payroll tax liable within four quarters.

Whether you want to open a small business or launch a fast-growing start-up, you could contribute to the economy and bring new ideas to the world as an entrepreneur.

Read more: How to Start Your Own Business

What Are the 4 Types of Entrepreneurship?

Entrepreneurship exists in all industries and in many contexts, said Sanok. Some of the most common types of entrepreneurship include:

Small Business Entrepreneurship

According to the U.S. Small Business Administration (SBA), a small business is one with fewer than 500 employees (SBA PDF source). Small business entrepreneurship is what many people picture when they think of becoming a business owner.

Small business owners may work with a very small team. A psychologist who opens a therapy group practice is an example of this type of business owner. Or, they may have a few hundred employees, such as a small chain of coffee shops across a few towns or states.

Large Business Entrepreneurship

A large business entrepreneur may be the founder of a large corporation with potentially thousands of employees.

Large business entrepreneurship can also involve established companies offering new products and services or expanding into a new market sector based on consumer demands. Companies like Google, Apple and Microsoft are good examples of this kind of constantly-evolving business.

Start-Up Entrepreneurship

Start-ups are businesses that aim to disrupt established industries and bring a unique product or service to market, according to Forbes. Start-up entrepreneurs typically dream of creating a large-scale operation that will make a profound impact on the world, often seeking investments to grow their businesses quickly.

Some of the most familiar start-up entrepreneurs come from the technology field, Forbes noted, including founders of social media networks and software companies. But the start-up model can be applied to virtually any industry.

Social Entrepreneurship

Social entrepreneurs typically get into business to solve community-based problems and other social issues, according to the U.S. Chamber of Commerce. Examples of social entrepreneurship can include:

• Companies that donate a percentage of their profits to support a specific cause or charity
• Financial institutions that seek to support underserved communities and individuals
• Organizations that donate some of their products or services to individuals who may otherwise not have access

"With the social entrepreneurship initiatives that I want to bestow on this world, it was very important for me to continue my education," said Jonathan Oubenslimane '24, who earned a bachelor's in business with a concentration in entrepreneurship online at SNHU.

With his sights set on social entrepreneurship, he said that he started many community service projects throughout his program. He also noted that SNHU's online format was flexible enough to allow him to gain those experiences while earning his degree.

"It helped me stay flexible with the different things that I was handling in the projects that I was juggling," he said.

How to Become an Entrepreneur

Successful entrepreneurs need to combine education and real-world experience to start a business, Sanok noted. That includes building a network, working in your chosen field and learning more about entrepreneurship all at the same time.

At SNHU, for example, you could earn a bachelor’s in entrepreneurship on campus or an online bachelor's in business with a concentration in entrepreneurship. Courses may include:

• Business Law
• Business Plan Preparation
• Entrepreneurship
• Small Business Management

Business is far more complicated than it was fifty years ago, according to Sanok, and a degree can help you develop the skills and knowledge necessary for success.

"I've always been a business-minded individual," said Jerron Trice '24, who also earned a bachelor's in business with a concentration in entrepreneurship at SNHU.

Working as an assistant manager when he graduated, Trice said he wanted to use his degree to help others learn how to build and grow their businesses.

"One of the things that has changed about me is just being able to tell my children that they can do anything, anything is possible," he said.

If you already have your bachelor's, you could also consider earning a Master of Business Administration (MBA) with a concentration in Entrepreneurship.

What Skills Do Entrepreneurs Need?

Being an entrepreneur requires problem-solving, financial know-how and leadership abilities.

A business degree with a concentration in entrepreneurship will help you develop those skills, plus:

• Broad business principles
• Collaboration skills
• Entrepreneurial opportunity analysis
• Market research techniques

You'll also need to develop the resilience of an entrepreneur. According to Sanok, persistence is a key trait that every entrepreneur needs.

"It may seem at first like you are always taking two steps forward and then one step backwards — but that is the nature of the beast," she said. "Knowing how to adapt, pivot and staying solution-focus(ed) are qualities that will build upon a strong business education background."

Is It Worth Becoming an Entrepreneur?

Many different types of entrepreneurs face challenges on their way to business success. With the ups and downs of the economy and the consistent advancement of technology, it’s not uncommon for new businesses to spend time adapting and evolving.

Finding the right niche and knowing your skill sets is key to success, said Sanok. She said the right opportunity is the one that fits the entrepreneur.

So, what's the difference between a thriving business owner and a struggling entrepreneur? According to Sanok, success in entrepreneurship often comes down to taking action.

"It is less about guessing correctly about the next big thing and more about a disciplined and unwavering pursuit," she said. "We start from where we are and leverage what we have today to achieve our vision for tomorrow."

Danielle Gagnon is a freelance writer focused on higher education. She started her career working as an education reporter for a daily newspaper in New Hampshire, where she reported on local schools and education policy. Gagnon served as the communications manager for a private school in Boston, MA before later starting her freelance writing career. Today, she continues to share her passion for education as a writer for Southern New Hampshire University. Connect with her on LinkedIn.