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Chapter 7

COMMERCE 1B03 Chapter Notes - Chapter 7: Micro-Enterprise


Department
Commerce
Course Code
COMMERCE 1B03
Professor
Rita Cossa
Chapter
7

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Highly energetic
Able to learn quickly: making errors is inevitable; what is important is what you
learn from them
Female Entrepreneurs
A great concentration of women run small and medium sized enterprises, are
businesses with fewer than 500 employees
Reasons as to why women have taken the entrepreneurial route:
Lack of promotion
Financial need
Women returning to the workforce
Family and personal responsibility
Public awareness about women in business
Part time occupations
Higher rates of success for women
Entrepreneurial Team
A group of experienced people from different areas of business who join together to
form a managerial team with the skills needed to develop, make, and market a new
product
Teams can be better than individuals so all members can combine creative skills with
production and marketing skills right from the start
Micropreneurs and Home-Based Businesses
Micro-enterprise: a small business defined as having one to four employees
Micropreneurs: small business owners with fewer than five employees who are willing
to accept the risk of starting and managing the type of business that remains small, lets
them do they kind of work they want to do, and offers them a balanced lifestyle
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