RSM100Y1 Chapter Notes - Chapter 5: Webcam, Small Business, Independent Business
Document Summary
Chapter 5 - forms of business ownership & organization. Small business: an independent business w/ fewer than 100 employees and revenues less than million that is not dominant in its market. Government offers benefits to help small business compete w/ larger firms. The running room started up by john stanton. Small firms make up 98% of goods producing businesses & 98% of service producing services. Home-based businesses: firms operated from the residence of the business owner. More control over both their business & their personal time. Easier to run b/c access of internet & technology. Don"t have to worry about overhead costs -- e. g. leasing office or warehouse space. Downside: isolation & less visibility to customers unless they visit online. More than half of all new jobs in canada are created by companies w/ fewer than 100 employees. Small businesses created 77. 7% of all private jobs from 2002-2012. Medium & large businesses created 12. 5% & 9. 8%
