MGTA01H3 Chapter Notes - Chapter 3: Franchising, Trade Credit, Swiffer
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MGTA01H3 Full Course Notes
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In class notes for chapter 3 entrepreneurship and small business. Business: organizing yourself to provide a good/service. Our country is rich because it encourages a business. Overall 8th, government 9th, infrastructure 7th, business environment 5th. Canada sympathetic to businesses: encourages, nurtures a business. We don"t" know the accurate # of small businesses. Also small businesses: tutor, babysitting, snow shoveling in neighborhood. Estimated 2. 4 million: # comes from tax return. Even if don"t tell gov"nt about our business, we have to pay taxes. 2. 4 million businesses/34 million people = 1 business per 14 people. Total working population: 17 million (8% self-employed) 25% work in business: less than 5 employees. No longer paying income taxes because don"t have enough income to be taxed. Maybe not as profitable as you think; eg. go back to school for more education or get a full-time job. Most would-be entrepreneurs think odds of success are worse.
