BSM1602 Assignment 2 Semester 1 2019

BSM1602 Assignment 2 Semester 1 2019 Unique Number: 849007 Disclaimer The information presented here have been prepared by specialist who are fully qualified and possess extensive understanding of this module. Prescribed study material have been used to compile the information presented here, and an external party was used to review the work presented below. All workings are shown. However, CTM Tutoring solution Pty Ltd will not be held liable for any loss or damage as a result of infor mation presented in this document. Users should always verify the information presented here. Contact us on: Email Phone +27 65 505 3119 Whatsapp +27 65 505 3119 Facebook CTM Tutoring Solutions Skype ctm.tutoring © CTM Tutoring All rights reserved +27655053119 1. 3 The National Small Business Amendment Act (26 of 2003) aims to update and further define business according to five categories established by the original act, namely, standard industrial sector and subsector classification, size of class, equivalent of paid employees, turnover and asset value – excluding fixed property. 2. 3 An entrepreneur is an individual who, rather than working as an employee, founds and runs a small business, assuming all the risks and rewards of the venture. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services and business/or procedures.