BU111 Lecture Notes - Lecture 3: Social Entrepreneurship, Small Business, Match Game
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98. 1% of all businesses in canada are small. New ventures lead in new products and services. Ease of establishment: therefore government support: Small businesses create the largest employment opportunities. Government creates measures to encourage small businesses. Lower tax rates than large corporations, therefore higher profit for small businesses which promotes growth. Entrepreneurial process: successful only when entrepreneur, begins with entrepreneur identifying. Influenced by pest opportunity, and resources fit an opportunity then accessing resources. This process is successful only when all the prices are in harmony. Originate in events relating to work or daily life, hobbies, chance happening: screening. Paradigm shift: weeding out bad ideas, saves time, money, ensures you have a viable idea with a competitive advantage, a new way of doing something, ex- fanning (displacing) air vs. cooling down air (air conditioner) Solve a problem and the solution sells itself.
