Textbook Notes (270,000)
CA (160,000)
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MGTA02H3 Chapter Notes -Business Plan, Professional Wrestling Throws, Franchising


Department
Management (MGT)
Course Code
MGTA02H3
Professor
bouvaird

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Chapter 3: Understanding Entrepreneurship, Small Business,
and New Venture Creation
THE LINKS AMONG SMALL BUSINESS, NEW VENTURE CREATION, AND
ENTREPRENEURSHIP
Small Business
oOwner managed business with less than 100 employees.
New Venture/Firm
oRecently formed (within 12 months) commercial organization that
provides G&S for sale.
Entrepreneurship
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,
public, private)
oIntrapreneurs – Within large firms; don’t need to provide resources
THE ROLE OF SMALL AND NEW BUSINESSES IN THE CANADIAN
ECONOMY
Small Businesses
oMedium business (100-499)
oLarge (500+)
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
New Ventures
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
registrar
oOne large business outperforms small businesses but SMEs (Small
and Med Enterprises) outperform large businesses in terms of
contribution to employment
THE ENTREPRENURIAL PROCESS
The Entrepreneur
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