SOLUTIONS MANUAL
** All Chapters included
** Answers to box feature questions
** Answers to discussion questions
** Answers to experiential exercises
** Comprehensive case
** Supplementary case notes
,Table of Contents are given below
CHAPTER 1: The Role of Entrepreneurship and Small Business in Canada
CHAPTER 2: The Small Business Decision
CHAPTER 3: Evaluation of a Business Opportunity
CHAPTER 4: Organizing a Business—The Business Plan CHAPTER 5: Buying a
Business and Franchising
CHAPTER 6: Financing the Small Business
CHAPTER 7: Marketing Management
CHAPTER 8: Managing the Marketing Mix
CHAPTER 9: Financial Management
CHAPTER 10: Operations Management
CHAPTER 11: Human Resources Management
CHAPTER 12: Management Help: Government Requirements and Tax Information
CHAPTER 13: Managing Growth, Mentors, and Boards of Advisors CHAPTER 14:
Managing the Transfer of the Business
, PART 1
THE DECISION TO START
A BUSINESS
CHAPTER 1
THE ROLE OF ENTREPRENEURSHIP
& SMALL BUSINESS IN CANADA
CHAPTER LEARNING OBJECTIVES
LO1. Discuss the level of interest and activity in the small business sector.
LO2. Evaluate common methods of defining small business and explain why a definition is important.
LO3. Summarize the current extent of entrepreneurship and small business in Canada.
LO4. Describe the benefits a healthy small business sector can offer society.
LO5. Explain the probable future environment for entrepreneurship and the small business
community.
Instructor’s Manual for Balderson, Canadian Entrepreneurship & Small Business Management, 2026 Release
© 2026 McGraw Hill LLC
1-1
, ANSWERS TO BOX FEATURE QUESTIONS
DIVERSITY IN LEADERSHIP 1-1:
STYLE AND SUBSTANCE
1. Kasandy has found a way to support artisans across the world and make a profit in her own
neighbourhood. Can you think of a business idea to do the same?
Answer: Student Choice: answers will vary
2. Name one entrepreneur who started small and made it big. How did they do it? How are they
giving back to the community? Trace the small steps and turning points that led them to greater
success.
Answer: Student Choice -- answers will vary
3. Find three social enterprises on either the Social Enterprise Council of Canada or the Canadian
Social Enterprise Foundation. With one or two classmates, create your own social enterprise
business and compare it with another group from the class.
Answer: Student Choice: answers will vary – this may also be used as the answer to one of the
experiential questions at the end of the chapte.r
SMALL BUSINESS IN ACTION 1-1:
KAILEY GILCHRIST — SAUCE BOSS
1. One of the main challenges Gilchrist faced was getting good start-up funding. What are possible
sources of start-up funding for youth in Canada? Where else would you look for funding?
Answer: Student Choice – however students should mention from the entrepreneur’s perspective
that it allows them to test market product ideas, provides additional sources of capital and can assist
in pre-selling products. From a disadvantage side entrepreneurs have additional work to
communicate with many people, it is fairly unregulated and some entrepreneurs and/or investors
could act unethically.
Students may discuss the high start-up costs, the need to find strong advisors, and the difficulty in
raising capital, but can look to some initial sources such as:
BDC and Futurpreneur; DAIR and checking the Youth Entrepreneurship guide.
Instructor’s Manual for Balderson, Canadian Entrepreneurship & Small Business Management, 2026 Release
© 2026 McGraw Hill LLC
1-2
** All Chapters included
** Answers to box feature questions
** Answers to discussion questions
** Answers to experiential exercises
** Comprehensive case
** Supplementary case notes
,Table of Contents are given below
CHAPTER 1: The Role of Entrepreneurship and Small Business in Canada
CHAPTER 2: The Small Business Decision
CHAPTER 3: Evaluation of a Business Opportunity
CHAPTER 4: Organizing a Business—The Business Plan CHAPTER 5: Buying a
Business and Franchising
CHAPTER 6: Financing the Small Business
CHAPTER 7: Marketing Management
CHAPTER 8: Managing the Marketing Mix
CHAPTER 9: Financial Management
CHAPTER 10: Operations Management
CHAPTER 11: Human Resources Management
CHAPTER 12: Management Help: Government Requirements and Tax Information
CHAPTER 13: Managing Growth, Mentors, and Boards of Advisors CHAPTER 14:
Managing the Transfer of the Business
, PART 1
THE DECISION TO START
A BUSINESS
CHAPTER 1
THE ROLE OF ENTREPRENEURSHIP
& SMALL BUSINESS IN CANADA
CHAPTER LEARNING OBJECTIVES
LO1. Discuss the level of interest and activity in the small business sector.
LO2. Evaluate common methods of defining small business and explain why a definition is important.
LO3. Summarize the current extent of entrepreneurship and small business in Canada.
LO4. Describe the benefits a healthy small business sector can offer society.
LO5. Explain the probable future environment for entrepreneurship and the small business
community.
Instructor’s Manual for Balderson, Canadian Entrepreneurship & Small Business Management, 2026 Release
© 2026 McGraw Hill LLC
1-1
, ANSWERS TO BOX FEATURE QUESTIONS
DIVERSITY IN LEADERSHIP 1-1:
STYLE AND SUBSTANCE
1. Kasandy has found a way to support artisans across the world and make a profit in her own
neighbourhood. Can you think of a business idea to do the same?
Answer: Student Choice: answers will vary
2. Name one entrepreneur who started small and made it big. How did they do it? How are they
giving back to the community? Trace the small steps and turning points that led them to greater
success.
Answer: Student Choice -- answers will vary
3. Find three social enterprises on either the Social Enterprise Council of Canada or the Canadian
Social Enterprise Foundation. With one or two classmates, create your own social enterprise
business and compare it with another group from the class.
Answer: Student Choice: answers will vary – this may also be used as the answer to one of the
experiential questions at the end of the chapte.r
SMALL BUSINESS IN ACTION 1-1:
KAILEY GILCHRIST — SAUCE BOSS
1. One of the main challenges Gilchrist faced was getting good start-up funding. What are possible
sources of start-up funding for youth in Canada? Where else would you look for funding?
Answer: Student Choice – however students should mention from the entrepreneur’s perspective
that it allows them to test market product ideas, provides additional sources of capital and can assist
in pre-selling products. From a disadvantage side entrepreneurs have additional work to
communicate with many people, it is fairly unregulated and some entrepreneurs and/or investors
could act unethically.
Students may discuss the high start-up costs, the need to find strong advisors, and the difficulty in
raising capital, but can look to some initial sources such as:
BDC and Futurpreneur; DAIR and checking the Youth Entrepreneurship guide.
Instructor’s Manual for Balderson, Canadian Entrepreneurship & Small Business Management, 2026 Release
© 2026 McGraw Hill LLC
1-2
