MGTA01H3 Lecture Notes - Lecture 6: Capitalism
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MGTA01H3 Full Course Notes
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No fees, few regulations, no government permission. Freedom from bureaucracy and regulation in starting a business has led to the expression: free enterprise . To begin most businesses in canada, you just need to : start. We don"t know how many businesses there are in canada: recent estimate: 2,405,000, most of these businesses are small. Most canadian businesses are small : small is hard to define, various bodies have different definitions, in canada, there is no official definition of a small business . You can have a business with a small number of employees with lots of revenue, or a huge business with very little profit. Big businesses are getting smaller, small businesses are getting bigger. Small businesses created 78% of all jobs in canada. During the great recession, big businesses downsized, while small businesses held on to their employees. Small enterprise creates ~80% of jobs and employs ~50% of workers. But it"s easy for a new business to fail.
