MGM102H5 Lecture Notes - Lecture 8: Tax Avoidance, Computer, Franchising
Document Summary
Why people take the entrepreneurial challenge: new idea/process/product, independence, challenge, family pattern, profit, immigrants. Types of entrepreneurs: women entrepreneurs: number of women going into business is increasing, especially in. Incubators: centers that provide hands-on management assistance education, information, technical and vital business support services, networking resources, financial advice, as well as advice on where to go to seek financial assistance. Starting a small business: small vs. big business, business establishment: has at least one paid employee, annual sales revenue of. Importance of small businesses: almost all small businesses are canadian-owned and managed. Small businesses also continue to be feeders for future large businesses. As they prosper, they are bought out by larger companies or convert from private to public companies and become larger: wide diversification: small businesses in many sectors, including: service businesses, Inherit or take over a family business: small, emotional ownership with elements of personal identity/family legacy/community responsibility, stewardship for generations.
