MGTA01H3 Lecture Notes - Lecture 9: Business Plan, Risk-Seeking, General Partnership
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MGTA01H3 Full Course Notes
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No permission necessary to start a business just start :) But if u don"t do some planning that just dumb -. - The business plan the document that lays out: How much 32094$ you will need if the business is to succeed. Plan lays out all facts, assumptions, tasks, resources needed, timelines, etc. Entrepreneurs are not risk seeking they are risk tolerant. Better to fail on paper, then fail in real life. As business grows, it will need capital. Plan is evidence of planning and research. Plan is evidence that entrepreneur is serious. The purpose of a business plan is : road map ( to do list) record and verify assumptions. Evidence that entrepreneur is willing to work. Answers to these 2 questions determine the most appropriate way to organise the business. Start-up: ways to organise in canada, several common forms: sole proprietorship, partnership, limited partnership, corporation cooperative. Business that is owned and run by 1 person.
