MGTA02H3 Chapter Notes -Business Plan, Professional Wrestling Throws, Franchising
This preview shows page 1. to view the full 4 pages of the document.
Chapter 3: Understanding Entrepreneurship, Small Business,
and New Venture Creation
THE LINKS AMONG SMALL BUSINESS, NEW VENTURE CREATION, AND
oOwner managed business with less than 100 employees.
oRecently formed (within 12 months) commercial organization that
provides G&S for sale.
oProcess of identifying an opportunity in the marketplace and
accessing the resources needed to capitalize on it
oEntrepreneurs – People who recognize and seize opportunities
Can be found in all times of firms (old, new, big, small,
oIntrapreneurs – Within large firms; don’t need to provide resources
THE ROLE OF SMALL AND NEW BUSINESSES IN THE CANADIAN
oMedium business (100-499)
oPrivate Sector – Part of economy made up of companies and
organizations that are not owned or controlled by the gov
oSmall businesses make up large part of work force
oMain source of job creation and responsible for new G&S
oGrowth in female entrepreneurship
oGov statistics on new ventures exclude businesses without
employees. Hence businesses counted as ‘new’ could have been
operating for years.
Unincorporated business operated by a self-employed person
(no employees) is not included in stats Canada business
oOne large business outperforms small businesses but SMEs (Small
and Med Enterprises) outperform large businesses in terms of
contribution to employment
THE ENTREPRENURIAL PROCESS
You're Reading a Preview
Unlock to view full version