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Types Of Entrepreneurs ( Industrial Entrepreneurs) - Business - Nairaland

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Types Of Entrepreneurs ( Industrial Entrepreneurs) by Yemicious(f): 10:15am On Oct 06, 2021
Types of entrepreneur (Industrial Entrepreneur)
Industrial entrepreneur is solely a manufacturer, who identifies the potential needs of customers and tailors a product or service to meet the marketing needs.
He is a product oriented man who starts in an industrial unit because of the possibility of making some new product.
The entrepreneur has the ability to convert economic resources and technology into a considerably profitable venture.
He is found in industrial units as the electronic industry, textile units, machine tools or videocassette tape factory and the like.

Benefits of industrial entrepreneurs to society
New and improved products, services, or technology from entrepreneurs enable new markets to be developed and new wealth to be created.
Increased employment
Social- economic development of the town where they are established
More income revenue for government through tax
Innovation
Economic and dynamic activities.

Entrepreneurship is characterized by the following features:

• Related to innovation
• Profit potential
• Risk bearing
• Idea Generation
• Feasibility study

Challenges faced by industrial entrepreneurs

• Location
• Power
• Water
• Communication
• Non-availability or irregular supply of critical raw materials or other inputs.
• Transport bottlenecks
• Infrastructure
• Marketing

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Re: Types Of Entrepreneurs ( Industrial Entrepreneurs) by TILORMADE(f): 5:07pm On Oct 06, 2021
Beautiful and lovely!
Re: Types Of Entrepreneurs ( Industrial Entrepreneurs) by Morisakin(f): 5:11am On Oct 07, 2021
Being an industrial entrepreneur in today's Nigeria is not a walk in the park.

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