Are you a small business owner, or are you an entrepreneur? There are some distinct differences between the two that are important when it comes to goals, growth, and legalities. One contrast between a business owner and an entrepreneur may be access to funding for business related projects.

Business Owners

A business owner is someone- or ones- that own a business entity. The goal is to profit from operation and, usually, business owners will step in to lead their company, business, or brand. Business owners typically are less willing to take risks that put the prosperity of their existing business at risk, but rather make sound and prudent ventures or actions to maintain steady revenues and gradual growth over time.

Entrepreneurs

On the other hand, an entrepreneur is someone who takes on greater than usual financial risks to operate a business. That is, an entrepreneur may put more attention and effort on innovation- as well as in preserving their freedom to work outside traditional norms. Many entrepreneurs do not have existing networks or even experience in their industry- which may make it tricky when it comes to financing new endeavors.

Business owner vs. Entrepreneur

When it comes to Business owner vs. Entrepreneur, which are you? Think of business ownership or entrepreneurship as a state of mind, with different legal guidelines. Depending on your distinct circumstances, your company’s characteristics and legal status will define whether you are a business owner or an entrepreneur.

Typically, entrepreneurs are more willing to take risks, while business owners need stability for consistent revenues. It can be tricky for entrepreneurs to get traditional funding for projects or endeavors- which is where alternative lenders can come in. If you need financing for your company or brand, talk to Rustwood Capital about alternative lending solutions.