(i) These entrepreneurs are said to be conservatives and sceptical about plasticizing any change in their organization.
(ii) They are of risk-averse type.They do not simply change to the changes happening in the environment.
(iii) But they adapt themselves to the changes only as a last resort when they fear that non adaptability to changes will inevitably lead to loss or collapse of the enterprise.
(iv) Their dealings are governed by customs, religion, tradition and past practices handed down to them by their ancestors.

Imitative Entrepreneur
(i) Imitative entrepreneur is one who simply imitates existing skill, knowledge or technology already in place in advanced countries.
(ii) A simply re-engineer or redesign the products developed in advanced countries and produce a version suited to their local conditions.
(iii) For example, many electronic products invented in advanced countries are simply re engineered in developing countries.
(iv) Similarly expensive medicines developed in advanced countries are simply reengineered by changing the composition of elements or changing the process of production.
 

(i) Professional entrepreneur is one who is having a rich expertise in starting a venture but lack of interest in continuing the venture as a manager or as a owner.
(ii) He/she simply sells out the venture started by him to someone else after its successful take-off.
(iii) They keep on conceiving new ideas to develop alternative projects.
(iv) These entrepreneurs have got professional expertise in starting the venture and existing it after the establishment.

Ventures started by individual either singly or collectively at their own risk after mobilising various resources in order to earn a profit are called private entrepreneurship.