MGTA01H3 Chapter Notes - Chapter 3: Income Statement, Franchising, Business Plan

• School: UTSC
• Department: Management (MGT)
• Course: MGTA01H3
• Professor: Bill Mc Conkey

Document Summary

The links among small business, new venture creation, and. Various measures like the number of people the business employs, the company"s sales revenue, the size of the investment required or the type of ownership structure the business has can be used to measure a small business. The government replies on the business register (which tracks businesses) and the labour force. To be in the register; a business must have at least one paid employee, annual sales revenues of. A goods-producing business in the register is considered small if it has fewer than 100 employees, while a service-producing business is considered small if it has fewer than 50 employees. The labour force survey uses information from individuals to make estimates of employment and unemployment levels. Individuals are classified as self-employed if they are working for themselves but do not have a business. A small business is an owner-managed business with less than 100 employees.