Question

What are the similarities and differences between Small business entrepreneurs and trading entrepreneurs?

Answer 1

Answer -
Similarities between small business enterpreneur and trading enterpreneur.
1.Lack of Funds - In both types of business structure there is a lack of funds for expansion of activities of business.so in regards of any problem they will solve it very creatively and innovation.
2.Inadequate resources - Both are face the problem of insufficient resources for developing their products and services.so they outsourcing their activities.
3.Organisational set up -There are very few members in organisation.A small business proprietor may be the owner, manager, accountant etc. Similarly the trading enterpreneur can play the role of chief executive officer,chief financial officer etc.One individual can do many activities in business organisation.
4.As it is run by small number of members decesion making and execution of the decesion process is very quick and not much time consuming.
5.Ownership of business - In both cases there is private ownership of the business and both are operating on small scale activities of business.

Differences -
1.Small businesses are related with only already existing,well known and established products and services.Trading enterpreneur always concentrate on new and innovative products and services.
2.Risk - Risk in small business is comparitively low and small business enterpreneurs estimates risks in business but in case of trading enterpreneur there is a high degree of risks and in some times new risks also arises for which trading enterpreneur can't estimated it in advance.
3.Vision - Small business enterpreneur focus only for stedy work and stability of income but trading enterpreneur is more interested in making growth of business,acheving high profitability etc.
4.Small business enterpreneurs working with principle of cooperation for survival of business and trading enterpreneur works with principle of being competetitve for expansion of business and profits.
5.Small business enterpreneurs have traditional and predictable approach in doing business activities but the approach of trading enterpreneur in doing business is unpredictable and spontaneous.