Business Start Up

BUSINESS START UP

Setting Up Your Own Business

Establishing a Community Business

Setting Up Your Own Small Business

Course Ref No: AE52QQ003 OCN Credits 3 Level 2

Aim: To provide the knowledge, skills and confidence to set up and run your own small business.

Why should I be interested in this course?

You may be interested in starting a business, have a “red-hot” business idea, but because of various circumstances you can’t follow the conventional route of daytime / evening college courses. It could be a nearby college runs a course on a day that’s inconvenient to you or the course has closed due to lack of numbers. Or you may be highly mobile, and can’t get to a specific venue. Whatever your circumstances this course may be just what you may be looking for!

How Will I benefit?

This course offers you the basic ability and confidence in being able to set up and run a successful small business. As it is offered on a distance learning by email basis, you can start at your own time, and work at your own pace. You can therefore learn what you like when you like. You will also be in contact with your tutor who will guide you through the course and will offer assistance with any particular areas of difficulty you may be experiencing.

How Will I Learn?

In addition to information on various aspects of starting a business, you will receive a number of exercises for you to complete and return to your tutor. Many of these exercises are designed to enable you to construct a practicable and workable plan for your business. If you have any problems or queries relating to specific aspects of your own business, your tutor will be delighted to help you .

Course Structure:

The course is divided into nine modules; the following gives you an outline of the content of these modules:

MODULE 1: Looking at yourself.

Checklist of your skills and abilities to start a business.
Advantages and drawbacks of starting a business.
Entrepreneurial skills.
Managing your time.

MODULE 2 : Looking at your business.

Evaluating your business idea.
Types of business structure.
Forms of trading.
Working from home / getting premises.
Developing operating systems.
Legal considerations.

MODULE 3: Looking at costs.

Costing start up: sources of finance.
Basic costing and pricing for a business.
Breaking even, viability and survival budgeting.
Basic job and project costing.

MODULE 4: Making Your money work.

Cash flow and profit forecasting.
Developing credit control systems.
Profit & loss and balance sheets.
Examining the financial health of a business.

MODULE 5: Setting Up a Financial Recording System.

Records you need to keep.
Using a system to give you accurate information.
Tax, VAT and National Insurance (UK only).

MODULE 6: Focusing on Your Customer.

Basics of marketing and the marketing plan.
Finding and identifying customers.
Market identification, segmentation, targeting, positioning.
Identifying & analysing the competition.

MODULE 7: Marketing Research.

Research methods, primary & secondary.
Relating market research to the proposed business activity.
Analysing results.

MODULE 8: Establishing the link between you & your customers.

The “marketing mix.”
The product / service you offer.
Effective pricing for your market.
Communicating to your customer using realistic promotion methods – advertising & selling techniques.
Distribution methods – how to get your product / service to your customer.

MODULE 9: Bringing it all together: The Business Plan.

What Will I Achieve?

You will receive three Open College Network Unit Credits at level 2. This is a nationally recognised qualification and demonstrates to others your competence in this area.

How To Establish a Community Business

Course Ref No: AB82QQ003 OCN Credits 3 Level 2

Aim: : To provide the knowledge, skills and confidence to set up and run a Community Business.

This is structured in a similar way to the Start Your Own Business course above, but also includes the following elements:

Understand the elements of a community business (Identifying the key elements of a community business and the main requirements for developing such a business).
Understand basic market research techniques (This involves identifying various market research methods and developing an outline market research plan for the product / service to be offered).
Understand the different formats for business organisation (this involves the various trading options such as sole trader, partnership, co-operative, limited company, company limited by guarantee, and charitable status).
Produce a business plan for a community enterprise / business. (This covers the key elements of a business plan and the ability to produce one in outline form).
Understand the principles of charitable status. (This covers the characteristics of charitable status, how it can be of benefit to an organisation, and the criteria that have to be met to qualify for such a status).