Unit Code: AE42CY003
Credit Value: 6
Unit ID: CCY694
Sector: 15.3 Business Management Last registration date: 31/07/2017 QCF Reference Number: Y/504/2645 Lower age restriction: 16
Purpose and Aim:
This unit introduces the learner to the processes necessary in order to start a small business.
The learner will:
The learner can:
Understand the local business environment for own business idea.
Describe local business conditions as applied to a specific business idea.
Compare sources of free advice for his/her business idea.
Identify sources, conditions and availability of grants for a business idea.
Identify the availability and relevance of enterprise training as applied to a business idea.
Know appropriate types of business ownership for a business idea.
Identify appropriate forms of ownership, and discuss the advantages and disadvantages of each.
Be able to undertake market research.
Design a market research questionnaire for a business idea.
Carry out a questionnaire survey.
Assess the results of the survey and the effectiveness of the questionnaire.
Identify where to carry out market research for a business idea.
Understand techniques of marketing in relation to own business idea.
Describe appropriate methods of promotion for a business idea.
Design an advert for a chosen product or service.
Understand potential finance for a business idea.
Compare sources of finance and types of loan appropriate to a business idea.
Produce an outline business plan.
Be able to produce business documentation for a business idea.
Identify appropriate legal requirements.
Produce an outline design for a logo and headed notepaper.
Produce an invoice and statement appropriate to a business idea.
Understand consumer protection responsibilities.
Identify legal responsibilities for his/her own product idea.
Identify environmental health requirements linked to his/her own product idea.
Know the viability of the business idea.
Estimate actual costs of production.
Identify competitors' prices.
Identify range and nature of competition.
Assess the true market position for own business ideas.
There is no assessment information available for this unit. Assessments used should be fit for purpose for the unit and learners, and generate evidence of achievement for all the assessment criteria.
1.2 A minimum of two sources.
1.3 A minimum of two sources.
2.1 A minimum of two advantages and two disadvantages.
5.1 A minimum of three sources of finance.
8.2 A minimum of three competitors.
There is no information regarding specific assessor requirements for this unit. Centres should select assessors who are trained in assessment, and who have subject specific competence to assess at this level.