Recognising and understanding the elements of a business plan, creating an organisational structure for one’s own business to facilitate the integration of a business plan, identifying necessary resources and information for the plan, and compiling a comprehensive business plan are essential steps in strategically outlining and guiding the development of a new business.
Learners working towards this standard will be learning towards the full qualification, or will be working within a SMME (Small, Medium, Micro Enterprise) environment, specialising in New Venture Ownership and Management, where the acquisition of competence against this standard will add value to one’s job. This standard will also add value to entrepreneurs who are seeking to develop their entrepreneurial skills so that they can become more marketable for bigger contracts, including commercial and public sector contracts, for example the Department of Public Works programmes. The qualifying learner is capable of identifying and demonstrating an understanding of the elements of a business plan, compiling an organisation structure for one’s own business to determine how a business plan can best be integrated, identifying resources and information required to complete own business plan and compiling a business plan.
Course Content
- Legal business types for new ventures are identified and explained with examples (business types include but are not limited to sole trader, partnerships, close corporations, private companies, public companies)
- Legal registrations and any legislative compliance in relation to new venture are explained and included in business plan (legal registrations include but are not limited to PAYE (Pay As You Earn), VAT (Value Added Tax), RSC (Regional Services Council), COIDA, Skills Development Levy, Industry regulations)
- A business plan is explained in terms of business, financial, marketing, and operations plans
- The codes of ethics pertaining to a business plan are identified and explained with examples
- The business plan for the purpose of a management tool for new venture is explained with examples
- The business plan for the purpose of funding a new venture is explained with examples
- A business organogram is drawn up for own business
- The broad functions required to effectively complete business activities are described according to overall business goals
- Lines of authority and responsibility are designated in relation to organogram
- Any relevant human resources needs are determined accordingly
- Coaches/mentors are identified to assist in compiling business plan (where relevant)
- Information on the resources needed and procedures to be followed to achieve the plan is compiled in order to effectively execute business plan
- The type of business ownership is decided upon and registration completed accordingly
- The industry specific and legal requirements for own venture are identified and explained in terms of how they will affect the venture All relevant information is gathered for the completion of the business plan
- The structure and layout of the business plan is designed to be compatible with the nature of own venture (business and operational goals include but are not limited to short, medium and long-term goals extending for at least five years)
- Business and operational goals are identified and procedures for the effective implementation thereof are outlined in business plan
- Marketing plans are included in business plan
- Financial and cash flow plans are included in business plan
- An outline of how business will operate and achieve marketing and financial objectives are included in business plan
- A vision statement that represents the goals and objectives of the new venture is outlined and integrated into overall business activities
- Non-accredited: Short course only
- Duration: 1h 30m
- Delivery: Classroom/Online/Blended
- Access Period: 12 Months
