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1 Apr 2011
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Most small businesses are not entrepreneurial
Small business
๎€Industry Canada is the main federal government agency responsible for this
Business Register (which tracks businesses)
๎€At least one paid employee
๎€Annual sales revenues of $30000 or more, or be incorporated
๎€Goods-producing business = fewer than 100 employees
๎€Service-producing business = fewer than 50 employees
Labour Force Survey (which tracks individuals)
๎€Make estimates of employment and unemployment levels
๎€Individuals are classified as self-employed if
๎€‚they are working owners of a business that is either incorporated or
unincorporated
๎€‚they work for themselves but do not have a business (e.g. musicians)
๎€‚they work without pay in a family business
Not count in โ€œbusiness establishmentsโ€, the register
๎€an unincorporated business operated by a self-employed person (with
no employees)
Entrepreneurs โ€“ people who were trying to start a business over four years
Small business โ€“ an owner-managed business with less than 100 employees
Medium (100-499 employees)
Large (500+ employees)
New venture/firm โ€“ a recently formed commercial organization that provides goods
and/or services for sale
๎€it was formed
๎€was incorporated
๎€it sold goods and/or services
๎€new if it has become operational within the previous 12 months
๎€if it adopts any of the main organizational forms (proprietorship,
partnership, corporation, or co-operative
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Entrepreneurship โ€“ the process of identifying an opportunity in the marketplace and
accessing the resources needed to capitalize on it
๎€not only occurs in small or new firms
๎€also in old firms, in large firms, in firms that grow slowly/rapidly
๎€in non-profit organizations
๎€in the public sector
Entrepreneurs โ€“ people who recognize and seize opportunities
Exhibit Entrepreneurial Characteristics
๎€small business owners - often provide an environment to use personal attributes โ€“
such as creativity
๎€many successful managers in large organizations in both the public and private
sectors
Intrapreneurs โ€“ people who exhibit entrepreneurial characteristics and create some
thing new within an existing large firm or organization
Difference between intrapreneurs and entrepreneurs
๎€intrapreneurs typically donโ€™t have to concern themselves with getting the
resources needed to bring the new product to market since their employer
provides the resources
The Role of Small and New Businesses in the Canadian Economy
Small businesses
๎€98% of businesses in Canada are small
๎€58% of all business establishments in Canada (whether small or large) are in ON
and Quebec
๎€49% of employees worked for small businesses
Private sector โ€“ the part of the economy that is made up of companies and
organizations that are not owned or controlled by the government
Small businesssโ€™s contribution to Canadaโ€™ s GDP is 25% (less than the sectorโ€™s
contribution to employment)
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New Ventures (1991-2003 grew a lot)
๎€Main source for job creation
๎€Responsible for the vast majority of new products and services
๎€Services-producing sector - most of the growth in firms (with high-technology)
A lot of Small-and-Medium Enterprises
Increasing by 3% each year for women entrepreneurs
Self-employment among women increased by 43%
A business counted as โ€œnewโ€ could have been operating for several years before being
statistically counted as a new business
๎€An unincorporated business operated by a self-employed person(with no
employees) would not be included in Statistics Canadaโ€™s Business Register
๎€One large business easily outperforms the contribution of a countless number of
small businesses
๎€SMEs outperform large business in many areas, particularly in terms of their
contribution to employment
๎€New businesses lead the way when it comes to innovation and new technology
The Entrepreneurial Process
๎€To start-up of a new venture, the entrepreneur must identify a business
opportunity and access and resources needed to capitalize on it
๎€Along the way, social, economic, political, and technological factors in the
broader environment will have an influence
๎€‚3 elements
๎€ƒthe entrepreneur
๎€ƒthe opportunity
๎€ƒand resources โ€“ and how they interact
they might be โ€œmismatchedโ€ or โ€œwell-matchedโ€
๎€After start-up, the ventureโ€™s next phase of development will result in one of the
following outcomes:
๎€‚Growth
๎€‚Stability
๎€‚Decline
๎€‚Demise (ceasing to exist)
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Document Summary

industry canada is the main federal government agency responsible for this. annual sales revenues of or more, or be incorporated. goods-producing business = fewer than 100 employees. service-producing business = fewer than 50 employees. make estimates of employment and unemployment levels. they are working owners of a business that is either incorporated or unincorporated. they work for themselves but do not have a business (e. g. musicians) they work without pay in a family business. Not count in business establishments , the register an unincorporated business operated by a self-employed person (with no employees) Entrepreneurs people who were trying to start a business over four years. Small business an owner-managed business with less than 100 employees. Entrepreneurship the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on it. not only occurs in small or new firms.

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