Canadian Economy essays

Canadian Economy essays 1. Why are small businesses important to the Canadian economy? Small businesses have a strong presence in the Canadian economy as well as most countries in Europe. The contribution of a small business can be measured in terms of its effect on financial aspects in the economy. For example small businesses create 8 out of every 10 jobs, this presence holds great strengths in our Canadian economy. 2. What are the characteristics of a small business? There are three characteristics of a small business: Job Creation, Innovation, and importance to big businesses. Small businesses construct job creation, as a matter of fact a widely circulated study showed that small businesses created 8 of every 10 new jobs. Small business especially in certain industries is an important source of new and well paid jobs in this country. Small firms are also the first to hire in times of economic recovery. Innovation is such a large part of our small businesses in Canada. History has shown that some of the most greatest inventions have come from small businesses. For example: Personal computers, the jet engine, the ball point pen, photocopy machine, etc. The wealth of a big business providing a product is extremely dependent on small businesses, most of the products made by big manufactures are sold to consumers by small businesses. 3. What are the characteristics of an entrepreneur? The characteristics of an entrepreneur can very, most successful have characteristics that set them apart from other business owners. Some of the characteristics include: a resourcefulness and a concern for good, often personal, customer relations, desire to be their own bosses, many express a need to gain control over their lives or build for their families, and believe that building a successful business will help them do that. Most common characteristics of an entrepreneur are as follows: Assertiveness, challenge seeking, charismatic, creative,...