Plan finances for new business ventures BSBESB403
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Plan finances for new business ventures BSBESB403
Mode of Delivery - Online Self-Paced (Within 3 months, if not sooner)
You are able to complete the course sooner if you choose as we work at your pace.
This mode of delivery is suitable for people who are not able to attend training face to face due to commitments relating to work or personal life, geographical restrictions, or preferred method of learning, and is self-paced.
Sale Now Only: $360.00 $249.00 (one off payment)
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About this Unit of Competency
BSBESB403 Plan finances for new business ventures , is specifically designed to complement your trade knowledge with business knowledge.
You will learn how to establish the legal requirements, and risk management practices, that apply to your business and industry. This Nationally Recognised Unit of Competency is accepted as evidence by QBCC in regards to the business knowledge requirements to be a licensed subcontractor.
This unit describes the skills and knowledge required to identify and comply with all regulations affecting a business.
It applies to individuals operating a small business who use analytical skills to interpret legislation, and regulations and develop procedures to manage compliance.
This online course is ideal for people who are applying for an electrical contractor’s licence from the Electrical Safety Office (ESO), or are required to become a Qualified Business Person (QBP).
You will be guided through the following subjects by your learning resources, video tutorials, and with the support of your dedicated trainer.
You will gain knowledge in the following areas:
Legislative and regulatory requirements relating to operation of new business ventures, including:
- Prepare to plan finances
- Develop a financial plan
- Registration and licensing
- Plan to acquire finance
Workplace procedures for:
- Identify costs associated with production and delivery of business products and/or services
- Set profit targets according to business venture requirements and workplace procedures
- Calculate prices based on costs and profit targets, as a charge-out rate for labour or unit price for products and/or services
- Calculate break-even sales point to assess viability of business venture
- Evaluate and select pricing strategies in relation to market conditions to meet profit targets and according to workplace procedures
- Prepare projected profit statement to supplement business plan
- Identify working capital requirements necessary to attain profit projections
- Identify non-current asset requirements and consider alternative asset management strategies
- Prepare cash flow projections to enable business operation according to business plan and legal requirements
- Identify capital investment requirements accurately for each operational period
- Select budget targets to enable ongoing monitoring of financial performance
- Identify start-up and ongoing financial requirements according to financial plan and budget
- Identify sources of finance for required liquidity according to business goals and objectives and workplace procedures
- Research and assess cost of securing finance on optimal terms
- Develop strategies to obtain finance as required to ensure financial viability of business venture.
You will gain the following skills:
- Develop a financial plan that addresses financial requirements of a business or new business venture, including cash flow projections and a projected profit statement
- Legal requirements applicable to a business
- Strategies to monitor financial performance of a business.
Licensing/Regulatory Information
- There are no prerequisite requirements for this individual unit of competency.
Entry Requirements
- Nil
