Ch 6 & 7

CH 6-7

Angel Investors: Private individuals who invest personal funds into early-stage companies before they go public.

Crown Corporation: Registered only by the provincial or federal government.

Entrepreneurship: The act of accepting the challenge of starting and running a business. In a commercial context, it refers specifically to the initiation of a business entity.

General Partnerships: Shared liability.

Home-Based Businesses: These are often attractive to individuals seeking to balance career goals with family responsibilities.

Limited Partnerships: Which include at least one General Partner and one or more Limited Partners.

Micro-enterprises: These represent the smallest category of small businesses, typically defined as having fewer than $5$ employees. This category includes online businesses and many home-based operations.

Micropreneurs: These represent the smallest category of small businesses, typically defined as having fewer than $5$ employees. This category includes online businesses and many home-based operations.

Non-Profit: Operates for public service rather than personal profit (e.g., universities, hospitals, charities); receives special tax considerations.

Partnership: A business owned by two or more people. Types include General Partnerships (shared liability) and Limited Partnerships (which include at least one General Partner and one or more Limited Partners).

Private Corporation: Not traded on stock exchanges; limited to $50$ or fewer stockholders (e.g., Chapman’s Ice Cream, started in $1973$ by Penny and David Chapman).

Professional Corporation: Owned by providers of professional services, such as accountants or architects.

Public Corporation: Shares are traded on one or more stock exchanges.

Sole Proprietorship: This involves one person owning and operating the business without forming a corporation. The owner and the business are a single legal entity. Nearly $1/4$ of all registered Canadian businesses are sole proprietorships.

Entrepreneurial Statistics & Dimensions: The $2.9$ million self-employed figure and the four dimensions distinguishing ventures from small businesses (amount of wealth, speed, risk, innovation).

Motivations: New innovation, profit, challenge, family pattern, and independence.

Small Business Criteria: Legal requirements (1 paid employee, $\$30,000$ sales/incorporation, tax returns) and economic independence.

Home-Based Business Ideas: The full list of 10 specific examples ranging from home renovation to life coaching.

Entry Strategies & Pros/Cons: The four methods of entry, plus the complete advantages and disadvantages of buying an existing business.

Franchising Dynamics: All specific benefits for both the franchisor and the franchisee.

Family-Owned Business Challenges: Management conflicts, pricing, and succession planning.

Forms of Ownership Pros & Cons: The complete breakdown of advantages and disadvantages for Sole Proprietorships and Partnerships, as well as the disadvantages of Corporations.

Business Planning & Financing: The 10 essential components of a business plan, Vancity's 2019 example, and financing methods including crowdfunding and supplier credit.

Global Expansion & Market Knowledge: The definition of a market, the positives/negatives of global expansion, and the Canadian Trade Commissioner Service.

The Closing Scenario & Exercise: Linda the Young Professional's background and the "reduce, reuse, recycle, upcycle" idea generation exercise.

Yes, there are several other specific details, statistics, and examples that were left out of the initial glossary and summary list:

Specific Company and Date Examples:

Chapman’s Ice Cream: Mentioned under Private Corporations, started in $1973$ by Penny and David Chapman.

Vancity: Their $2019$ Business Plan focused on redefining wealth (financial, social, and environmental well-being).

Suyen Corporation and Air Canada: Mentioned in the context of the user's B2B sales simulation project pitch.

Anker Innovations and Apple Inc.: Detailed in the sales manual distribution partnership pitch.