COMMERCE 2BC3 Study Guide - Affiliate Marketing, Small Business, Canadian Business

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2BC3
• Professor: Rita Cossa

Document Summary

2. 7 million people in canada who are self-employed represent 15% of workers in the economy: more young people are venturing and starting their own businesses. Entrepreneurship: accepting the challenge of starting and running a business/starting one, a person of very high aptitude who brings change, and has characteristics that are only found in a few people of the population. Amount of wealth creation: not only replaces traditional employment for many, but creates excess amount of wealth. Speed of wealth creation: often a rapid creation of wealth (may occur in a 5 year period) Risk: risk is very high for entrepreneurial ventures. Innovation: key for remaining competitive beyond what a small business could expect. Sudden inheritance that allows them to try something different. A change in health that needs them to refocus their career. A change in family responsibility requiring more income. Disliking supervisor to the point that they quit and start their own businesses.