MGTA01H3 Chapter 3: Chapter 3 Study notes
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MGTA01H3 Full Course Notes
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a small business can be defined by: number of employees, sales revenue, size of investment, type of ownership, etc. Industry canada: main federal government agency responsible for small business. a small business is an owner managed business with less than 100 employees. a new venture/firm is a newly (past 12 months) formed organization that provides goods/services for sale. usually enter the market by: introducing a new product/service, competing with current businesses with an improved product, or franchise. entrepreneurship is the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on that opportunity. entrepreneurs: people who recognize and seize opportunities. Intrapreneurs: people who work in a large firm and exhibit entrepreneurial characteristics. (don"t have to worry about the money needed. ) The role of new and small businesses in canada. most businesses (about 98%) in canada are small businesses.