Textbook Notes (368,432)
Canada (161,877)
MGTA01H3 (583)
Chapter 3

Chapter 3

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Management (MGT)
Chris Bovaird

thOctober 11 2010Chapter 3defining a small business is difficultIndustry Canada is the main federal government agency responsible for small businessin reporting Canadian small business statistics the government relies on 2 distinct sources of information the Business Register tracks business and the Labour Force Survey tracks individualsa goods producing business in the register is considered small if it has fewer than 100 employees while a service producing business is small is it has less than 50 employeesSmall business an owner managed business with less than 100 employeesNew venturefirm a recently formed commercial organization that provides goods andor services for saleEntrepreneurship the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on itEntrepreneurs people who recognize and seize opportunitiesclose to 98 of all businesses in Canada are smallPrivate Sector the part of the economy that is made u
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