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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:

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

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

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

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

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
(consider that tax is levied in UAE consumer market same as UK tax
structure)
assess the impact any one of 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

Task 4b)
THE FINANCIAL ASPECTS THAT WILL AFFECT
THE START-UP OF THE BUSINESS

For your chosen business:

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

Produce a list of your start-up and running costs for your business
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)

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

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

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

Assessment and Feedback Record

Name:

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

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