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									Btec Level 2 Diploma in Business                                                      Unit 17: Starting a Small Business



                 Assessment Sheet: Unit 17 Starting a Small Business (10 credits)
Name:                           ………………………………………………………………………………



                                                    Assessment Criteria                                          Achieved


Pass 1              Present the initial business idea using relevant criteria


Pass 2              Explain how to identify the target market


Pass 3              Describe the skills needed to run the business successfully and what
                    areas require further personal development


Pass 4              Describe the legal and financial aspects that will affect the start up of
                    the business


Pass 5              Produce a proposal containing the essential information for the start
                    up of a business


Merit 1             Explain methods used to identify the target market for the proposed
                    business


Merit 2             Analyse the personal development needed to run the business
                    successfully


Merit 3             Assess the implications of the legal and financial aspects that will affect
                    the start up of the business


Distinction 1       Present a comprehensive business proposal that addresses all relevant
                    aspects of business start up


Final Grade Conversion Table:

                     Pass         Merit       Distinction       Distinction*
L2 Certificate      75-84         85-94         95-99              100+                             Points Awarded
   (1 GCSE)                                                                                          For Unit 17:
L2 Extended        150-169      170-189        190-199              200+
 Certificate
  (2 GCSEs)
 L2 Diploma        300-339      340-379        380-399              400+
  (4 GCSEs)


Overall Grade:                             Pass          /          Merit              /          Distinction

                                              Deadline: 11 May 2012
In submitting your work for assessment, you are confirming that the work is your own. On completion of this unit, this
document must be signed as a declaration that the work submitted is your own:

Assessor Signature: …………………                Date: …………            Student Signature: …………………………… Date: …………




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Btec Level 2 Diploma in Business                                                   Unit 17: Starting a Small Business



TASKS

This unit introduces you to the implications of setting up a new business. You have completed your
education and you are considering your career option, one of your ideas is to set up your own
business. Your task is to prepare a business plan for a small business of your choice.

Task 1
                                      INITIAL BUSINESS IDEA
Produce an outline of your initial business idea. Include the following details:

         The nature of the business you intend to set up
         The business ownership
         The location of your business and why you have chosen the location
         The type of business: whether it is a new business or you are purchasing an existing business
         The products and services that you are intending to sell and any USP (unique selling point)
         Details of your target market
         Your short and long term objectives
         External influences that might affect the success of your business idea

                                                                                      This task provides evidence for P1
                                            Deadline 16 March 2012

Task 2
                METHODS USED TO IDENTIFY THE TARGET MARKET
Describe how you could identify your target market. Describe at least THREE of the following:

         Market research
         Market trends
         Environmental issues
         Social trends
         competition
                                                                                      This task provides evidence for P2

Select which methods are most appropriate to use for your business launch. Explain how the method will help
you identify the target market for your proposed business and include details of any relevant disadvantages.
                                                                                  This task provides evidence for M1

Deadline 23 March 2012

Task 3
         THE SKILLS NEEDED TO RUN THE BUSINESS SUCCESSFULLY
On one sheet of A4 paper, create a diagram showing all the skills and characteristics needed to run your
proposed business successfully.

Complete a skills audit to identify your strengths and weaknesses.

Write a report explaining what skills you already have and what skills you will need to develop in order to run
your business successfully, explain how you could develop these skills.

                                                                                     These tasks provide evidence for P3

Create a personal development plan. Your plan must:
        Identify the skills that you need to develop,
        Explain why it is important for your to develop the skill
        Identify suitable training courses you could attend
        Analyse the benefits and limitations of the proposed courses
        Include realistic deadlines

                                                                                     This task provides evidence for M2

                                             Deadline 30 March 2012



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Btec Level 2 Diploma in Business                                                Unit 17: Starting a Small Business



Task 4a)
                         THE LEGAL ASPECTS THAT WILL AFFECT
                            THE START-UP OF THE BUSINESS
For your chosen business:
        explain the impact of the legal implications of the business ownership you have chosen (including
         liability)
        explain the tax and VAT implications of your chosen business idea
        assess the impact of THREE consumer/environmental/employment laws that will affect the operation of
         your business
        assess how the Health & Safety at Work Act will affect the operation of your business

                                                                          These tasks provide evidence for P4 and M3
                                             Deadline: 27 April 2012

Task 4b)
                     THE FINANCIAL ASPECTS THAT WILL AFFECT
                           THE START-UP OF THE BUSINESS
For your chosen business:

          Produce a list of your start-up and running costs for your business
          Produce and explain the start-up budget which includes details of the predicted costs and revenue
          Explain the pricing strategy you intend to use
          Calculate the break-even point
          Produce a cash flow forecast
          Produce a predicted profit and loss account
          Explain the sources of finance you will use to set up your business

                                                                                  These tasks provide evidence for P4
Task 4c)

Explain the likely impact of your start-up costs, start-up budget and cash flow forecast. Are you predicting a loss?
What impact will this have on your bank balance? What action can you take to help solve the problem? How
does the start-up budget help you with your business planning?

What is the benefit of calculating the break-even point? What action can you take to improve your break-even
position?

What are the advantages and disadvantages of your chosen sources of finance? Explain the implications of your
decisions on the financial position of your business.

                                                                                 These tasks provide evidence for M3
                                             Deadline 4th May 2012

Task 5
                      PRODUCE AN OUTLINE BUSINESS PROPOSAL

You have been asked by your bank manager to present your business idea at a meeting about your business
finance. Collate and organise your business ideas into a “business plan”. Your plan should have:

          A title page
          A contents page
          “Title” pages for each section of your plan

Prepare an oral presentation of your business plan which could be used to present your plan to your bank
manager. You must include a witness testimony of your discussion in your portfolio evidence.

                                                                                    This tasks provide evidence for P5

To gain a distinction, your business plan must be comprehensive and must address all of the relevant aspects of
your business start up. All reports must be well written and fluent.
                                                                               This task provides evidence for D1
                                            Deadline: 11th May 2012



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Btec Level 2 Diploma in Business                                        Unit 17: Starting a Small Business



                                   Assessment and Feedback Record

Name:                        …………………………………………………………………

Interim Deadline 1:                    Task 1                    16/03/12
Interim Deadline 2:                    Task 3                    30/03/12
Final Deadline:                        All tasks                 11/05/12


  Interim Feedback 1




  Signed: …………………………………………………………………                                         Date ……………………


  Targets for improvement
       1.
       2.
       3.

  Signed: …………………………………………………………………                                         Date ……………………

  Interim Feedback 2




  Signed: …………………………………………………………………                                         Date ……………………


  Targets for improvement
       1.
       2.
       3.

  Signed: …………………………………………………………………                                         Date ……………………




  Summative Feedback                                              Grade:     ………………………




  Signed: …………………………………………………………………                               Date …………………………………




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