MGTA01H3 Chapter 3: Chapter 3 Notes
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MGTA01H3 Full Course Notes
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Document Summary
Chapter 3 understanding entrepreneurship, small business, and new. The links among small business, new venture creation, and entrepreneurship. The role of small and new businesses in the canadian economy. N when small business are further subdivided, the majority of businesses (57%) have fewer than five employees. 98% of all businesses in canada are small. N while the idea that people are born entrepreneurs is popular, nothing could be further from the truth. N most entrepreneurs start up a small business in one of three ways: they start a business from scratch, they buy an existing business, or they buy a franchise. The franchiser can attain rapid growth for the chain by signing up many franchisees in many different locations. The franchiser benefits from the investment money provided by franchisees. N advertising money is spent more efficiently (the franchiser teams up with local franchisees to advertise only in the local area).
