To better understand these similarities and differences, see the Venn diagram in Figure 3.įigure 5: Differences and Similarities between Entrepreneurs and Small-Business Owners.
Along with the classical characteristics of each, this contrast will develop an understanding of its relevance inside a learning organization. This leads to the similarities and differences between a small business owner and an entrepreneur. Similarly to how many small companies will export their entrepreneurial products to other areas of the world, leaders in learning organizations will use the entrepreneurial attitude to export holistic knowledge internationally. This relates to the learning organization in ways that leaders and managers will look for big change outside of the walls and beyond geographical limitations. Although their geographic location keeps them grounded physically, their outlook and their business model lends itself to a world-wide approach. One factor that is present in a variety of small businesses today is their willingness to look globally. (Source: Innovation, Science, and Economic Development Canada: Small Business Branch, Government of Canada.) Long description.įigure 4: Statistics Canada, Labour Force Survey and ISED Calculations. Figure 3: Key Small Business Statistics, January 2019. Physical is the physical space (a small office building), economic is the annual revenue (see Figure 3) *, social is the employee makeup (1-99 employees in Canada is considered a small business) (see Figure 4), and geographical is location (commonly located in small towns and small markets). Small businesses represent a large portion of Canadian economic output and are defined by many physical, economic, social, and geographic characteristics. Regardless of how you small businesses are viewed, they carry many different characteristics.
Perhaps small is two people staying up all night with tools and wiring trying to build a machine the world will eventually not be able to live without. What characteristics does a small business have? Are they physical, such as a garage, or a table with lemonade? Perhaps it is small in economic terms, with simple book-keeping, such as selling hummels online for $5 apiece. 4.3 Small Business and Entrepreneurship: Similarities and Differences
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