BSM 100 Chapter Notes - Chapter 6: Wadd, Startup Company
1 Oct 2015
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The benefits of starting your own business are . Survival (some people launch a business because they believe it is their only economic option: middle-age workers laid off from corporate jobs, new immigrants with limited. English and heavy accents, those who experience discrimination in the standard workplace, etc. ) They can become very involved in the operations of the business & control majority ownership) Exhibit 6. 2 survival rates of canadian small businesses. 30. 7: high risk of failure, lack of knowledge and experience (just because you have expertise in a particular area doesn"t mean you know how to run a business) Canadian study that investigated the cost to small businesses of meeting federal information-reporting requirements found that firms with fewer than 5 employees spent approximately 8 percent of revenue. ) It"s all you: your concept, your decisions, your structure, and so on: you don"t have to deal with the prior owner"s bad decisions.
