COMMERCE 1E03 Chapter Notes - Chapter 7: Acronym
5 Mar 2018
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Four factors of entrepreneurship: amount of wealth creation, speed of wealth creation, risk, innovation. Small business and entrepreneurship are used interchangeably. While most businesses start small, it"s whether the intent is to stay small that separates them from entrepreneurship. Meets certain standards of size in terms of employees or annual revenues is not dominant in its field independently owned and operated. People who work on their own account. Working without pay in a family business. Important acronym: sme - small and medium sized businesses. About 85% of businesses that enter the marketplace survive for one full year. A business idea is a good idea if it . Producing a product that consumers are willing and able to buy and still make a profit off of it. Angel investors - usually successful businesspeople who invest their own personal funds. Venture capitalists - money invested by firms that use other people"s money.
