ADM 1100 Lecture Notes - Lecture 2: Sole Proprietorship, Days Inn, Investment
4 Feb 2016
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Chapter 5: forms of business ownership & organization. Small businesses independent business w/ fewer than 100 employees & revenues less than m represents 2/3 of employment in five canadian industries: non-institutional health care, construction, accommodation & food, forestry and other services. Approximately 97% of canadian firms have fewer that 100 employees on staf. 2. 7 million self employed individuals small businesses account for more than 29% of the gdp. Hybrid definition: when trying to classify the business, one requirement conflicts with another requirement (having enough profit in being a mid size or large business but having the amount of employees for a small business) Home based businesses: firms operated from the residence of the business owner small businesses are good at innovation, developing new and improved goods and services. Most common difficulties for a small business are: management inexperience, inadequate financing, challenge of meeting government regulations (needing many licenses, ex.
