Welcome!
Entrepreneurship
Dr. Satyendra Singh
Professor, Marketing and International Business
University of Winnipeg, CANADA
https://sites.google.com/view/drsatsingh
s.singh@uwinnipeg.ca
Objectives
① Entrepreneurship
② Women entrepreneurship
③ Micropreneurs and home-based businesses
④ Small business
2
Business vs. Entrepreneurship
3
4
5
6
① Entrepreneurship – 3m self-employed in Canada
To start a business, passion → opportunity
Why − new idea, product, profit, like challenge (family/independence) …niche
Characteristics: Self-directed − ↑confidence, Self-nurturing − believe in your idea
Attributes: Action oriented, ↑energetic, ↑risk, ↑learn
Entrepreneurial ventures vs small business − Intention to stay small
Difference: amount and speed of wealth creation, risk, innovation
7
② Women Entrepreneurs – 100K in Canada. 40% of all employment
Why women − returning to workforce, ↓promotion opp, family/personal, ↑success rate
Entrepreneurial team − diverse group to launch a new product, eg skipthedishes (2012)
Intrapreneurs − work as entrepreneur with a firm
8
9
Motivations | Men % | Women % |
Autonomy | 55 | 60 |
Opportunities | 30 | 20 |
Have products | 30 | 25 |
Partnership proposal | 15 | 10 |
Extra income | 10 | 10 |
Personal development | 5 | 10 |
Study conducted in 2021 using 840 entrepreneurs in Europe. Intotheminds.com
Comparison of Canadian Entrepreneurs: Women/Men
10
Canada is most comfortable with female leaders
11
③ Micropreneurs and Home-Based Business
Microenterprises − <5 employees, mostly home-based, combine family/career
Why − opportunity, profit, independence, technology, restructuring, social attitudes…
Challenges − customers, separation of work/family, mgmt. of time/risk/laws...
Potential areas − catering, cleaning, tailoring, parlor, gardening, online…
Indigenous business (#50K) − $30b contribution to Canadian GDP
Incubators − assistance in mgmt./tech/ education/networking, financial advice…
12
④ Small Business
Definition − at least 1 paid employee, >$30k sales or incorporated, files income tax at least once in the last 3 years
Failure − no research/experience, ↓capital, incorrect pricing, ↓market development, buying too much on credit, extending credit freely, expand rapidly, ↓monitoring …
Start − your own, buy, franchise, inherit… idea from previous jobs
Management − plan, finance, marketing, human resource, accounting…
Plan − detailed nature of business, target market, competition…profit projection…
Finance − supplier credit, personal, retained earnings, loan, crowdfunding (Kickstarter)…
Angel investors − individuals investing in businesses before they go public
Gig (on-demand) economy − temporary, multiple jobs…
13
Internationalization
Positives
world market
absorb excess inventory
hedge US downturn
extend product life
Negatives
Financial difficulty
how to get started?
↓cultural understanding
↓paperwork procedures
Online international retailors amazon, ebay…
14
15
Questions?�s.singh@uwinnipeg.ca