chpt 3

10 Pages

Management (MGT)
Course Code
Chris Bovaird

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Chapter 3 Small business Approximately 380 businesses are started in Canada every day Ways to measure a business- number of people, companys sale revenue, size of investment, ownership structure (#RIO) - industry in charge of small business reports small business statistics through business register ( which tracks businesses and labour force survey (tracks individuals to be a business- 1 employee, 30000 R or be incorporated less than 100 for good production business and less than 50 for service producing business labour force survey info from individuals to make estimates of unemployment. Employment levels - self employed Individuals- if they are owners of business either incorportated or unincorporated or work for themselves but no business ( eg musician or if they work without pay in family business) industry Canada- 2.2 million business establishments and 2.5 employed ( can have overlap) (PSED) panel study entrepreneurial dynamics ERC entrepreneurship research consortium unincorporated -no employees are no businesses in register only who reported establishing a operating business had incorporated their firm. Small business- owner managed with less than 100 employees Ways to determine if it is new firm- incorporated sold goodsservices, when it was formed ( IST)- incoporated sold stuff and time it was formed) has to be under 12 months, be either sole proprietorship, partnership coporation etc and sell stuff) New venture- recently formed commercial organization that provides goodsservices for sale Entrepreneurship- process of identifying an opportunity in market place and accessing resources to capitalize on that opportunity . Entrepreneurs- people who recognize and seize opportunities - ken woods john galiardi for high quality beer) Small businesses are mostly independently owned and therefore create environment to need creativity. Entrepreneurs doesnt just have to be in small or new firms but also old ones public sector, non profit organizations - intrapreneurs- those who exhibit entrepreneurial characteristics in a old or large firm eg swifter procter and gamble-
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