BUS 201 Lecture Notes - Lecture 4: Labour Force Survey, Small Business, Income Statement

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Christian Venhuizen

Document Summary

Life blood of an economy: entrepreneurship, small business, and new ventures. Industry canada is the main federal agency responsible for small businesses. Small business- an owner-managed business with fewer than 100 employees. A (cid:862)s(cid:373)all (cid:271)usi(cid:374)ess(cid:863) is determined by: ho(cid:449) (cid:373)a(cid:374)(cid:455) people it e(cid:373)plo(cid:455)s, the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s sales revenue, the size of investment required, or the type of ownership structure the business has. Business register- tracks businesses (to be included one must have one employee, sales revenue of 30k + annually, or be incorporated) Small businesses have contributed to 25-30% of ca(cid:374)ada"s gdp o(cid:448)er the past de(cid:272)ade. 98. 2% of businesses in canada are small (less than 100 employees) 1. 6% is medium businesses and . 2%are large small businesses account for 80% of employment in four industries: agriculture, other services, accommodation and food services, and construction micro businesses are 5 or less employees -79% of small business. New venture- a recently formed commercial organization that provides goods or services for sale.