We introduce and analyze two theories for typed (accessible part) inductive definitions and establish their proof-theoretic ordinal to be the small Veblen ordinal ϑΩ ω. We investigate on the one hand the applicative theory FIT of functions, (accessible part) inductive definitions, and types. It includes a simple type structure and is a natural generalization of S. Feferman's system QL(F 0-IR N). On the other hand, we investigate the arithmetical theory TID of typed (accessible part) inductive definitions, a natural subsystem of ID 1 , and carry out a wellordering proof within TID that makes use of fundamental sequences for ordinal notations in an ordinal notation system based on the finitary Veblen functions. The essential properties for describing the ordinal notation system are worked out.