Question

Name the type of entrepreneurs who do not have any entrepreneurship background.

Hint:

Tip: When you see “no family business background,” think “first-generation” — starting fresh and independent!

Answer 1

First-Generation Entrepreneurs are those who start a business or enterprise on their own without any family background in entrepreneurship.
They do not inherit a business from their parents or relatives but establish a new venture entirely with their own effort and vision.
These entrepreneurs often face many challenges since they do not have prior experience, mentorship, or a business legacy to rely on.
They need to develop their own networks, resources, and strategies from scratch to succeed.
On the other hand, Inherited Entrepreneurs continue family-owned businesses passed on to them.
Second-Generation Entrepreneurs typically refer to the next generation managing an existing family business.
Corporate Entrepreneurs or intrapreneurs innovate within an existing company but do not start a business independently from scratch.
Therefore, the correct answer is First-Generation Entrepreneurs.