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The 7 Types of Small Business Owners

By Tiffany Pennamon,

Small business owners share distinct characteristic traits that make them the leaders that they are. These people are the doers, the go-getters, and the cream of the crop—it may be you.

Research from Deluxe Corporation found that small business owners “are more than twice as likely to be asked for their opinions about what to buy, places to visit, or restaurants to try and are also more likely to be good at convincing others to try new products.” Small business owners may be innately wired to venture out and create paths that others have not.

When it comes to starting a new business and traveling down the entrepreneurial path, risk taking and leadership go hand in hand. Studies show that small business owners can be categorized into one of the seven following clusters.

  1. The “All Heart” who wishes to express and share what they love with others.
  2. The “Encore Career” who is entering into a second phase in their careers.
  3. The “Passionately Confident” who is a risk-taker and enjoys deciding their own paths.
  4. The “All in the Family” who inherited their status as small business owner or who has had a family member that previously owned a small business.
  5. The “My Way” who is self-motivated and started their own business for the opportunity to attain what they value most.
  6. The “Mastering the Niche” who is most likely to see an opportunity and capitalize on it.
  7. The “Boss-Me-Not” who left their for-profit, corporate job to be their own boss.

Studies were based on surveys of over 1,000 small business owners in the United States.

Which type of business owner are you?

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