Strategy, Legal & Operations

What are the types of entrepreneurs, and which one are you?

Explore the main types of entrepreneurs, including small-business, serial, and lifestyle entrepreneurs. Learn what each type means and discover which one best matches you.

Published 5 August, 20268 min read Share

From a nation of shopkeepers to one of entrepreneurs, the UK economy is driven by small to medium-sized enterprises (SMEs). 

In fact, SMEs account for the vast majority of businesses in the UK, and millions of people dream of starting a business of their own. Yet many aspiring entrepreneurs assume business ownership is only for a certain type of person—someone naturally gifted with ideas, confidence, or financial expertise. 

The reality is that entrepreneurs come in many forms. Some are driven by innovation and big-picture thinking, while others excel at organisation, financial planning, or building strong customer relationships.  

Understanding your own strengths can help you identify the entrepreneurial path that best suits your goals and personality. 

Key takeaways

• There are eight commonly recognised entrepreneur types — small-business, scalable startup, social, innovative, serial, lifestyle, franchise, and intrapreneur — each reflecting a different motivation rather than a different level of ability.
• Most people are a blend rather than a single label — you might combine the creativity of an innovative entrepreneur with the flexibility priorities of a lifestyle one, so treat these as frameworks for understanding your strengths, not boxes to pick from.
• Small-business entrepreneurs are the most common type — local shops, trades, consultancies, and freelance services make up the bulk of business ownership, even though startup and tech founders get more coverage.
• The right type is the one that matches your motivation and risk tolerance, not the one with the biggest growth ceiling — start with why you want to run a business and what success actually looks like to you.
• You don’t have to go it alone to be entrepreneurial — franchising gives you a proven model and support structure, while intrapreneurship lets you build the experience inside an existing organisation first.

Here’s what we cover:

What are the main types of entrepreneurs?

The eight most common entrepreneur types are small-business entrepreneurs, scalable startup entrepreneurs, social entrepreneurs, innovative entrepreneurs, serial entrepreneurs, lifestyle entrepreneurs, franchise entrepreneurs, and intrapreneurs.  

These categories reflect different motivations, business goals, and approaches to growth. But most entrepreneurs share characteristics from multiple types rather than fitting neatly into a single category. 

Entrepreneur types explained

Entrepreneurs don’t all build businesses in the same way. Some focus on stability and steady growth, while others prioritise rapid expansion, innovation, or flexibility. Understanding these differences can help you recognise your own strengths and identify the type of business you’re most likely to succeed with. 

Below are the most common types of entrepreneurs and what each one typically focuses on: 

Entrepreneur type	What they focus on	Primary motivation
Small-business entrepreneur	Building a stable, local, or niche business	Independence and sustainable income
Scalable startup entrepreneur	Rapid growth and expansion	Scale, investment, and market reach
Social entrepreneur	Solving social or environmental problems	Impact and purpose
Serial entrepreneur	Starting multiple businesses over time	Variety and new opportunities
Lifestyle entrepreneur	Designing a business around their life	Flexibility and freedom
Franchise entrepreneur	Operating a proven business model	Reduced risk and structure
Intrapreneur	Innovating within an existing organisation	Internal growth and improvement

What is a small-business entrepreneur?

A small-business entrepreneur builds a company designed to provide sustainable income and long-term stability. Rather than pursuing rapid expansion, their focus is often on serving a local market, developing customer relationships, and creating a profitable business that can be maintained over time. 

You may identify with this type if: 

• You want to be your own boss. 
• You value stability and steady growth.
• You enjoy building relationships with customers.
• You prefer long-term sustainability over rapid expansion. 

These budding bosses are among the most common would-be entrepreneurs. Small-business owners are interested in starting a business and know there’s still some work to be done before committing to everything that comes with building a company from the ground up. 

Crucially, though, they already have the most important part nailed down: passion for what they do. 

What is a scalable startup entrepreneur?

Scalable startup entrepreneurs build businesses with significant growth potential. Their goal is often to expand quickly, enter new markets, attract investment, and create a company capable of operating at scale. 

You may identify with this type if: 

• You think beyond local markets. 
• You’re motivated by growth and expansion. 
• You enjoy taking calculated risks. 
• You want to build something large and impactful

What is a social entrepreneur?

A social entrepreneur uses business as a tool to solve social, environmental, or community challenges. While profitability remains important, creating positive impact is often the primary motivation. 

You may identify with this type if: 

• You want to solve a specific problem. 
• You’re motivated by social or environmental impact.
• Purpose matters as much as profit. 
• You want your business to make a difference. 

What is an innovative entrepreneur?

Innovative entrepreneurs create new products, services, technologies, or business models. They identify opportunities, challenge conventional thinking, and develop solutions to existing problems. 

You may identify with this type if: 

• You’re constantly generating ideas. 
• You enjoy solving problems creatively.
• You spot opportunities others overlook.
• You like improving products, services, or processes. 

What is a serial entrepreneur?

A serial entrepreneur launches multiple businesses over the course of their career. Rather than focusing on a single venture, they enjoy creating, growing, and moving on to new opportunities. 

You may identify with this type if: 

• You frequently develop new business plans. 
• You enjoy starting projects. 
• You thrive on variety and new opportunities.
• You enjoy building businesses from the ground up.

What is a lifestyle entrepreneur?

Lifestyle entrepreneurs build businesses that support their preferred way of living. Success is often measured by flexibility, independence, and personal fulfilment rather than rapid growth. 

You may identify with this type if: 

• Flexibility is important to you. 
• You value independence. 
• You want greater control over your schedule. 
• Work-life balance is a priority. 

What is a franchise entrepreneur?

A franchise entrepreneur operates a business using an established brand and proven business model. This approach can reduce some of the uncertainty associated with starting a business from scratch. 

You may identify with this type if: 

• You value proven systems and processes. 
• You want support when launching a business.
• You prefer structure and guidance. 
• You want to reduce startup risk. 

What is an intrapreneur?

An intrapreneur applies entrepreneurial thinking within an existing organisation. Rather than launching a business independently, they focus on driving innovation, growth, and new ideas from inside a company. 

You may identify with this type if: 

• You enjoy solving business problems. 
• You like developing new ideas. 
• You enjoy innovation. 
• You prefer operating within an established organisation. 

Which type of entrepreneur are you?

The best entrepreneur type isn’t necessarily the one with the fastest growth potential or the highest earning opportunity. It’s the one that aligns with your strengths, interests, and long-term goals. 

Ask yourself: 

• Why do I want to start a business? 
• What does success look like to me?
• Am I motivated by growth, impact, flexibility, or innovation?
• How much risk am I comfortable taking? 
• What kind of business do I want to build? 

Understanding the answers to these questions can help you identify the entrepreneurial path that’s right for you. 

Perhaps one of these types sticks out like a sore thumb and you can clearly identify with it. Or maybe it’s not so black and white. Take a look at our quiz: Your results there might help you determine whether or not you’re ready to start your own business. 

Dreaming of bossing your own business? Take our quiz to see how ready you are to take the plunge

 

What to do next

If you’re still exploring, the best next step is to learn from real-world examples of entrepreneurs and how they built successful businesses from an early stage. Seeing how others progressed from idea to execution can help turn uncertainty into direction. 

What if you’re not ready yet?

If you’re not quite ready to start and run a business, that’s completely normal. Many entrepreneurs don’t start with certainty—they build over time by learning, testing ideas, and developing confidence as they go. 

We’ve got lots of great startup business advice to help you, no matter where you are on your entrepreneurial journey. 

Frequently asked questions

Browse more topics from this article

• How to start a business