AFM131 Chapter Notes - Chapter 7: Town Privileges, Small Business, Affiliate Marketing
5 Jan 2017
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Chapter 7: entrepreneurship and starting a small business. Crowdfunding: raising money from a large number of people online. Entrepreneurship: includes the challenge of starting/running a business. Starts business from scratch and creates new markets for themselves (cid:862)e(cid:374)trepre(cid:374)eurship is (cid:374)ot al(cid:449)a(cid:455)s s(cid:373)all a(cid:374)d s(cid:373)all (cid:271)usi(cid:374)ess is (cid:374)ot al(cid:449)a(cid:455)s e(cid:374)trepre(cid:374)eurial. (cid:863) ** small business = 1-99 paid employees; medium-size business = 100-499 paid employees; large business = 500+ paid employees. Micro-enterprise: a small businesses with 1-4 employees. Micropreneurs: small business owners w/ fewer than 5 employees. The challenges of home-based businesses include: (1) getting to new customers (i. e. no store front) (2) managing time (3) keeping work and family tasks separate. 80% of small businesses survive their first year. The canada business network provides resources to help small businesses increase their odds of survival/success. ** must also be courageous ** goals of incubators include: (1) building successful firms and (2) stimulate economy.
