MGTA01H3 Chapter Notes - Chapter 7: Sole Proprietorship, Business Plan, Limited Partnership
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MGTA01H3 Full Course Notes
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The majority of canadian businesses fall into one of five types of ownership structures: Chapter 7: planning and organizing a business: sole proprietorship. Single individual who has enough expertise, energy, and capital to start the business without the assistance of anyone else: general partnership, limited partnership, cooperative, corporation. A business needs to demonstrate three key elements: people, market, and resources. Whe(cid:374) you (cid:449)rite a (cid:271)usi(cid:374)ess pla(cid:374), the dis(cid:272)ussio(cid:374) of the (cid:271)usi(cid:374)ess" fou(cid:374)di(cid:374)g o(cid:449)(cid:374)ers a(cid:374)d (cid:373)a(cid:374)agers (cid:373)ust demonstrate that you are highly motivated, well prepared, have the relevant qualifications, and are willing to work hard. The plan should also provide evidence that you have the support and the resources of family, friends, industry experts, and business contacts. Business exist to try and satisfy customer needs and wants. The third key topic which a business plan must address is the amount of money that will be needed (resources).
