BUS 201 Chapter Notes - Chapter 4: Indefinite Lifespan, Sole Proprietorship

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Peter Tingling

Document Summary

Nascent entrepreneurs: people who are trying to start a business from scratch. Small business: an independently owned and managed business that does not dominate its market. New venture: a recently formed commercial organization that provides goods and/or services for sale. Entrepreneurship: the process of identifying and opportunity in the marketplace and accessing the resources needed to capitalize on it. Intrapreneurs: people who create something new within an existing large firm or organization. Private sector: the part of the economy that is made up of companies and organizations that are not owned or controlled by the government. Accessing resources: financial resources, collateral is the items owned by the business or by the individual that the borrower uses to secure a loan or other credit. Debt financing: financial institutions, suppliers (trade credit, other resources, business development bank of canada. Help develops canadian businesses, focuses on small and medium. Provides financing, venture capital, and consulting businesses: incubators.