BUS 200 Lecture Notes - Small Business, Main Source, Indefinite Lifespan

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 200
• Professor: Kristin Matheson

Document Summary

Bus 200 [4]: entrepreneurship, small business & new venture creation. Role of small business: 98% employer businesses in canada are small (fewer than 100 employees, main source of job creation, leaders in innovation and new technology, agriculture, 90. 7, other services, 90. 6, accommodation and food services, 89. 6, construction, 81. 8% Increase investment money: attain rapid growth, share advertising cost, development of motivated sales team, no need to deal with local business issues. Increased revenue: franchisee, expert advice, training provided, lower failure rates, well-developed brand, keep most profits, help with external financing, access to management expertise, economies of scale in buying supplies, no need to build business from scratch. Success & failure in small business: success, hard work, drive & dedication, market demand for product/service, managerial competence luck, failure, managerial incompetence, neglect, weak control systems, insufficient capital. Indefinite lifespan: 2 types, public corporation, shares widely held and available for sale to public.