BU111 Chapter Notes - Chapter 3: List Of Company Registers, Life Insurance, Mark Zuckerberg
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BU111 Full Course Notes
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Industry canada us responsible for small businesses. Business register: to be included in the register, the business must have at least one paid employee, annual sales revenue of at least ,000, or be incorporated. Goods-producing business is considered small if it has less than 100 employees. Service business is considered small if it has less than 50 employees. Nascent entrepreneurs: ppl who are trying to start a business from scratch. Small business: independently owned and managed business that does not dominate its market. Criteria used to determine when a new firm comes into existence. Business considered new if it has become operational within the previous 12 months, if it adopts any of the main organizational forms (partnership, corporation, proprietorship, or co-operative), and if it sells a product. New venture: recently formed commercial organization that provides products for sale. Entrepreneurship: the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize it.
