MGTA01H3 Chapter Notes -Main Source
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MGTA01H3 Full Course Notes
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Document Summary
The links among small business, new venture creation, and entrepreneurship. Small business: an owner-managed business with less than 100 employees. New venture/firm: a recently formed commercial organization that provides goods/services for sale. Entrepreneurship: the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on it. The role of small and new businesses in the canadian economy: majority of canadian businesses are small, most have fewer than 5 employers. Private sector: the part of economy made up of companies that are not owned by government: small businesses contribute to employment but not significantly to gdp. Love money: money from family relationship or friendship. Private investors: individuals willing to invest money (aka angels) Venture capitalists: managed pools of investors money (need high criteria) 2. 4: other resources: a team needed depending on the size of venture, personal competencies. Assessing the fit between elements in the entrepreneurial process.
