ANTA02H3 Chapter Notes - Chapter 3: Tim Hortons
Document Summary
About 380 businesses start every day in canada because canada is a mixed market economy with no fees and government permission totaling to 2. 2 million businesses in canada. Note: canada"s competitiveness is rank one of the highest among world"s nations overall #8. Note: 8% of canadian 17 million working population are self-employed (different from small business with one worker) Small business a goods producing business is considered small when less than 100 workers while service-producing business is considered small when less than 50 employees (large = 500+ employees) About 98-99% of all businesses in canada are small businesses (approximately 2. 4 million) Easy to start and easy to fail after 2 years 40% after 5 years 60% after 10 years 80% of small businesses fail. Can be started by: buying an existing business, or buying a franchise (tim horton"s) - managerial competence (having what it takes to compete in the business industry) - weak control system (business stability, dealing with troubles)
