Podcast
Questions and Answers
According to Industry Canada, how is a small business defined?
According to Industry Canada, how is a small business defined?
- An independent business having fewer than 500 employees, not dominant in its market and revenues not more than $5 million.
- An independent business having fewer than 50 employees, not dominant in its market and revenues not more than $1 million.
- An independent business having fewer than 200 employees, not dominant in its market and revenues not more than $3 million.
- An independent business having fewer than 100 employees, not dominant in its market and revenues not more than $2 million. (correct)
What percentage of Canadian firms have fewer than 100 employees on staff?
What percentage of Canadian firms have fewer than 100 employees on staff?
- 99%
- 98% (correct)
- 95%
- 90%
Which industries have the majority of small businesses?
Which industries have the majority of small businesses?
- Retail and construction (correct)
- Technology and telecommunications
- Healthcare and education
- Manufacturing and finance
What are the benefits of a home-based business?
What are the benefits of a home-based business?
What is the main reason why most businesses are small businesses?
What is the main reason why most businesses are small businesses?
How many self-employed individuals are there in Canada?
How many self-employed individuals are there in Canada?
What is the main reason why small businesses fail?
What is the main reason why small businesses fail?
Approximately what percentage of total employment in the private sector did small and medium-sized businesses account for in 2018?
Approximately what percentage of total employment in the private sector did small and medium-sized businesses account for in 2018?
What is one of the contributions of small businesses to the economy?
What is one of the contributions of small businesses to the economy?
Approximately what percentage of small businesses close permanently within three years?
Approximately what percentage of small businesses close permanently within three years?
What is one of the reasons why small businesses fail?
What is one of the reasons why small businesses fail?
What is the purpose of a business plan?
What is the purpose of a business plan?
Which organization assists, counsels, and protects the interests of small businesses in Canada?
Which organization assists, counsels, and protects the interests of small businesses in Canada?
What is venture capital?
What is venture capital?
Which type of agreement involves one firm purchasing another firm's property and assets?
Which type of agreement involves one firm purchasing another firm's property and assets?
What is a partnership between companies for a specific activity called?
What is a partnership between companies for a specific activity called?
Which type of merger involves two or more firms combining to form one company?
Which type of merger involves two or more firms combining to form one company?
What type of merger involves firms in the same industry and at the same stage of production?
What type of merger involves firms in the same industry and at the same stage of production?
Which type of merger involves firms in different industries?
Which type of merger involves firms in different industries?
What is the purpose of partnering with a local firm in a joint venture?
What is the purpose of partnering with a local firm in a joint venture?
When might a firm want to start a business in a foreign market?
When might a firm want to start a business in a foreign market?
What type of agreement involves two or more firms combining to form one company?
What type of agreement involves two or more firms combining to form one company?
What is the term for members of top management that make major corporate decisions and handle ongoing operations?
What is the term for members of top management that make major corporate decisions and handle ongoing operations?
Which of the following is a benefit of franchising?
Which of the following is a benefit of franchising?
What is the world's 2nd largest franchise industry?
What is the world's 2nd largest franchise industry?
What is a sole proprietorship?
What is a sole proprietorship?
What is a corporation?
What is a corporation?
Who elects the board of directors in a corporation?
Who elects the board of directors in a corporation?
What is the purpose of public (government) ownership of business?
What is the purpose of public (government) ownership of business?
Where are most small businesses incorporated?
Where are most small businesses incorporated?
