Class Notes (1,100,000)
CA (620,000)
UTSC (30,000)
MGT (300)
MGTA01H3 (400)
Lecture

Lecture 3


Department
Management (MGT)
Course Code
MGTA01H3
Professor
Chris Bovaird

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MGTA03
LECTURE 3 – ENTREPRENEURSHIP AND SMALL BUSINESS
There is more supply of labour than there is demand
Buying power of the dollar is decreasing
There is no guarantee for a job
5-10% of people looking for a job cant find it at any time
Entrepreneurs are willing and eager to start their own business
In Canada, it is e a sy to start a b u sines s
No fe e s u nles s its a corporati on
Gov ernment d o es n ot restrict wit h p ermis sio n or n o t
In a small b u sines s, the owner is u sually the o p erator
There are les s than 1 0 0 emplo y e e s (do es n o t d etermine the compan ys reven u e or siz e)
A lot of b u sines s es that are g oin g o n wit h o u t p eo ple knowing ab o u t it (like b u sines s analysts an
e c o n o mists)
Abo u t 2.5 million different small b u sines s es
Many are o n e-person shops/mom an d p o p sh o p s
Po p ulation: 3 5 mil, workin g p o p: 1 5 million, 1 0 % of that are self-employed Canadians
A big so u rc e of employ ment and e c onomic return
Easy to start b u t also e a sy to kill a small b u sines s
Entrepreneurs p erso n ality traits
Peo ple wh o are driven to d o thin g s, h ave a visio n, want to cre a te, want the auto n o my of d oin g
their own and in their way
Wa nt to d o something that they n o tic e p eo ple want an d c a n d o b et t er than the last p erson (min
entrepreneur)
Ne e ds Motivation Theory
www.notesolution.com
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