MGTA01H3 Chapter 3: MGTA03 – Chapter 3
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MGTA01H3 Full Course Notes
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Document Summary
Mgta03 chapter 3: entrepreneurs and small businesses. In a market economy like canada you do not necessarily need to pay a fee, write forms, get a license, or get government permission to start a business. According to the textbook, canada forms 380 new businesses every day. The term small business is hard to define, but for our purposes it is an owner-managed business with less than. It is impossible to know how many small businesses there are, we can only estimate: recent government estimate is 2. 1 million small businesses across canada. Of all businesses in canada about 98% are small businesses. 25% of canadians work in a business with < 5 employees. 50% of canadians work in a business with < 50 employees. 53% of the canadian workforce works in small businesses. Small businesses have a much higher survival rate than medium-sized or large businesses.
