COMMERCE 1B03 Chapter Notes - Chapter 7: Canadian Identity
14 Oct 2018
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Meets certain standard of size in terms of employees or annual revenues. A business establishment must meet the following criteria. Must have annual sales revenue of ,000. Must be incorporated and have filed a corporate income tax return at least once in the previous three years. A small business has 1 to 99 paid employees. 98. 2% of businesses in canada have fewer than 100 employees. Since most of canada"s jobs are in sbs, there is a good chance that you will either work in a sb one day or start one. Sbs thus plays a major role in helping to maintain the canadian identity and. Survival is defined as the percentage of new firms that continue to operate when they reach a given age. Survival rates for small and medium sized businesses decline over time. About 85% of businesses that enter the marketplace survive for one year. Survival is influenced by many factors including.
