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Introduction to Business & Enterprise

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by

chris nguyen

on 9 February 2016

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Transcript of Introduction to Business & Enterprise

Question
Predict the
consequences
of an economy that is experiencing a large number of
business failures
Importance of Small Business
96.8% of Australia's businesses are small
84% of Australia's small business belong to the service sector (construction, retail)
Small business provided almost 46% of total private sector employment in June 2011 (4.8 million persons of 10.5 m)
Innovations & Inventions
Small businesses are the main source of inventions and innovations
BUSINESS SIZE
A Small Business
(SBE) is one that employs less than 20 people (non-manufacturing)

A Micro Business
employs less than 5 people

A Medium Business
(MBE) employs more than 20 but less than 200

A
Large Business
employs more than 200 people
Introduction to Business & Enterprise
WHAT IS A BUSINESS ?
An organised effort by individuals to buy or sell goods, make products or provide services for
profit
The Importance of Business to the Australian Economy
Income for Producers
Provides employment and income for employees
Benefits Governments
Benefits Consumers
Greater Choice
Competition encourages cheaper prices
Improves quality of life
Development
Encourages research and development
provides a training ground for future business people
Receives taxation
Allows for exports
Creates
Economic Growth
Risk
Small and Medium Enterprises (SME) have a failure rate of up to
75%
of all new SMEs failing within the first five years of beginning
Why then, are so many Australians willing to start up SMEs?
Stakeholders
Anyone who has an interest in or is affected by the activities of the business
Shareholders
Employees
Customers
Society/ General Public
Environment
https://mcdonalds.com.au/learn/responsibility/maccas-and-the-environment

Governments
Suppliers/Creditors
Stakeholders: Question
'To ignore the stakeholders is to invite disaster - you do so at your own peril' Do you agree or disagree with this statement? provide a reason for your answer
"Small businesses are able to feel their own pulse"
Developing personal relationships
Flexibility
Cheaper
Catering for limited or niche markets
INDEPENDENCE
http://www.ibtimes.com/mcdonalds-workers-strike-2015-employees-plan-us-protests-after-publicity-stunt-wage-1867746
Full transcript