A number of scholars have identified many different types of entrepreneurs. The major ones include;
- Large scale entrepreneurs: These are entrepreneurs who initiate and operate businesses/enterprises on large scale besides possessing the financial ability and necessary skills to initiate and introduce new technical changes.
- Small scale entrepreneurs: These entrepreneurs operate small business and lack necessary talents or skills and resources to initiate large scale production and application of appropriate technological changes.
- Innovative entrepreneurs: These are creative entrepreneurs who introduce new products on markets and new production techniques through assembling and synthesizing the available information and experimenting new combination of the factors of production. Such entrepreneurs always see and exploit opportunities for introducing something new or new markets. Such entrepreneurs are common in developed countries.
- Initiative or adoptive entrepreneurs: These entrepreneurs instead of innovating changes for themselves, they simply copy and adopt successful innovations from other people/innovators. Such types of entrepreneurs are commonly found in developing countries where they imitiate technology and techniques which have already been created in the developed countries.
- Opportunistic entrepreneurs: These are entrepreneurs who constantly look for profitable business opportunities and exploit as many of them as their resources can allow, using their wide experience, knowledge and skills acquired through education and exposure.
- Visionary entrepreneurs: These are entrepreneurs who constantly look for profitable business opportunities but concentrate on one major and most profitable opportunity using their wide experience, knowledge and skills acquired through education and exposure.
- Craft man entrepreneurs: These are entrepreneurs whose business activities are limited to their narrow experience and knowledge acquired through narrow educational background, experience and exposure. They usually limit their business to a small size which they can manage.
- Fabian entrepreneurs: These are characterized by great caution and skepticism in experimenting change in their enterprises. They initiate only when it becomes perfectly clear that failure to do so would result in a loss of the relative position in the enterprises.
- Private entrepreneur: A private entrepreneur is one who as an individual sets up a business enterprise. He/she is the sole owner of the enterprise and bears the entire risk involved in it.
- State/public entrepreneur: When the business venture is undertaken by the state or government. It is called state entrepreneur.
- Joint entrepreneurs: When the government and private entrepreneurs jointly run a business enterprise, it is called joint entrepreneurs
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