There are many types of new entrepreneurial ventures. These include:
Micro businesses like 'Mom and Pop' shops and stores. These are often comprised of 1 to 2 people and are often lifestyle businesses that have an annual income of approximately $100,000. Most start-ups and small businesses are micro businesses.
Restaurants and franchises. Owning a restaurant or franchise business is a well-established way to be an entrepreneur.
Family businesses. Some entrepreneurial ventures are family run businesses. For example, a father might start a small business that his son joins and grows over ensuing generations.
High-tech, high-growth. These types of businesses often overshadow other types of new businesses. Companies like Google and Apple can be considered high-tech, high growth. Within this space, there are several types of industries that can impact how the business is started, managed, and grown. These include physical devices (like Apple), information technology (like Google), bio technology (genetic drug companies), and nano technology. This course will focus primarily on these types of firms, as they are arguably the most complex to begin and to grow successfully.