ADMS 1000 Chapter Notes - Chapter Course Kit Reading 2: Franchising, Cash Flow, Discounted Cash Flow

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Peter Modir

Document Summary

Small business has 1 to 99 paid employees. A medium-sized business has 100 to 499 paid employees. A large business has 500 or more paid employees. A small or medium enterprise (sme) has less than 500 employees worldwide, including employees at any affiliated companies and be a commercial, for profit enterprise. Employment: small business is growing rapidly in the services industry, with business services such as consulting, showing the greatest rate of growth. Innovation and competitiveness: new ventures and innovative smes are often viewed as drivers of change in the economy, since they may introduce new products or services, and potentially more efficient ways of working. The aspects of entrepreneurship that are most frequently cited in are: organization creation, risk taking, opportunity recognition and innovation. The entrepreneurial process involved harnessing and integrating the resources necessary to establish a new venture or business start-up.