September 30, 2015 bus 201 chapter 4: entrepreneurship, small business and. Small business: business register (tracks businesses) and labour force survey( tracks ppl, a business must have at least one paid employee, annual sales revenue of keep track of businesses. ,000+, or be incorporated: goods producing business is considered small by register is has fewer than. The new venture/firm: criteria: when it was formed/incorporated, and if it sells g/s, new if started within 1 year, new venture recently formed commercial organization that provides g/s for sale. Entrepreneurship: entrepreneurship process of identifying and opportunity in the marketplace/accessing resources needed to capitalize on it, entrepreneurship business person who accepts risks/opportunities involved in creating/operating a new business venture ex: mark. Zuckerberg on facebook: intrapreneurs ppl who create something new within an existing large firm/organization. The role of small and new businesses in the canadian economy. Small business: private-sector part of econ that is made of companies/organizations that are not owned/controlled by the gov.