RSM100Y1 Chapter Notes - Chapter 4: Small Business
Document Summary
Small business: an owner-managed business with less than 100 employees. Some statistics do not include unincorporated business with one owner and no employees. New venture (or new firm): a recently formed commercial organization that provides goods and/or services for sale. (opened within last 12 months) Entrepreneurship: the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on that opportunity. Entrepreneur: the person who recognizes and seizes opportunities. Intrapreneuring: entrepreneurial characteristics that can create and maintain the innovation and flexibility of a small-business environment within the confines of a large, bureaucratic structure. A key difference between intrapreneurs and entrepreneurs is that intrapreneurs typically don"t have 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. 97. 8 percent of all employer businesses in canada are small (fewer than 100 employees)
