What’s the difference between a small business owner and an entrepreneur? (Infographic) » SMEInsider

What’s the difference between a small business owner and an entrepreneur? (Infographic)

Business owners have a problem with being called entrepreneurs, with a divide separating traditional business owners and millennials who are out to make their millions. In this infographic from SME research group The Hartford find out what separates the two and discover what things they share in common.

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  • Mike Golding

    Interesting blindness on the behalf of the author. Article starts
    “What’s the difference between an SME owner and an entrepreneur” and then ever after you talk about small business. Do you know what the M stands for in SME? Different breed of people M business owners.

    • Thanks for pointing this out Mike, the abbreviation was used in the wrong context and has now been changed. However SME Insider focuses mainly on small businesses, hence why we proceeded to mention small business owners directly in the article.

  • Mike, good comment.

    Did you see the comments that went around last year about companies being called an SME? This link is just one of the conversations: https://www.linkedin.com/pulse/20140619102357-13943480–i-am-not-an-sme-you-patronising

    Personally I’m a small business owner, but many of the traits listed above for entrepreneurs I have.

    • Hi Nigel, thanks for sharing your views on SME Insider. I am curious to find out what traits you have that are also found in an entrepreneur.

      Why do you think there are different classifications for small business owners and entrepreneurs?

      • Fraser,
        Sorry for taking so long to reply to you. I never found out what that little red number was about until a moment ago!!
        I believe that many people look at entrepreneurs as doing something different and new – usually tech-related. Although that often isn’t the case, there are many businesses started that are doing something which is the same as many others. My business, for example, is a marketing consultancy and there are plenty of those out there. My approach is different to most and that’s why I’ve had the success I’ve had.

        Many think of entrepreneurs as young as well (or at least started young) and I don’t qualify there either!
        Have a great week

  • Interesting! Both entrepreneurs and small business owners refer to being an independent as a primary motive to set up their own business. But if risk-taking ability, defined as calculated risks to obtain potential advantages, is a point on which small Business owners and entrepreneurs can be differentiated.

  • Thanks Vinay, you make a good point!