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Key Differences Between Traditional and Digital Entrepreneurship

How do they work? Traditional Entrepreneurship Digital Entrepreneurship
Where the shop is? Needs a real place you can visit, Lives on the Internet, like a website or an
like a bakery or bookshop on app you open on a tablet.
your high street.
What do they sell? Mostly real things or face to face Mostly online things or services you reach
services (cakes, haircuts, taxi by clicking (games, e-books, food delivery
rides). apps).

Who can buy? Mostly people who live nearby. Anyone with the Internet, even in another
country.
Things you must own Building, shelves, stock, Computer, good Wi-Fi, and clever software.
first machines.

Starting cost Often high—must pay for rent Usually lower—no shop rent, but you need
and equipment. to build the website or app.
How fast can it grow? Step by step—open one extra Very quick—many new users can join in a
shop at a time. single day.
Money comes in Cash or card at the counter; Paid online by clicks—comes in any time of
counted at closing time. day.

Everyday worries Broken machines, running out of Slow Internet, hacking, keeping the app
stock, bad weather. working for everyone.
Example Your local corner grocery. A kids’ learning game you download from an
app store.

Double Tap Century #Technology Literacy
21 st
Skills #Flexibility
State whether the following statements are true or false:

1. Digital entrepreneurship does not require Internet access.

2. Partner entrepreneurs share responsibilities and profits.

ENTREPRENEURSHIP PROCESS
1.
5.
When an entrepreneur acts as an industrialist, they shoulder the risk Harvesting Discovery
of launching a venture for profit. Their knack for spotting demand
before others enable them to bring new products or services to 2.
4.
market swiftly. Operating Developing
(Managing) the Business
Plan
The process typically follows five recurring stages:
3.
1. Discovery: The entrepreneur scans the environment, gathering Resourcing
insights from employees, customers, suppliers, and experts to

#Entrepreneurship in the Digital Age 129