Planning a New Business Venture

The aim of the unit is to develop business planning skills. These skills can be applied to either a small micro enterprise or a new venture within an existing company. To use these skills effectively learners will need to develop an understanding of business types and those factors that determine the success or otherwise of any new venture, including research of the market, how to develop the business case and how to pitch it.

Awarding Body

ATHE/LIBT

Duration

25 Hours

Start Date

All Year Around

Study Mode

Classroom Workshop

By the end of this programme, the participant will be able to:

  • Understand the different types of business organisations
  • Understand factors that determine market potential
  • Be able to develop a business case
  • Be able to pitch a business proposal
  1. Understand the different types of business organisations
  • Business types e.g. sole trader, partnerships, companies – unlimited and limited, PLC
    • Potential benefits – ownership, control, managing risk
    • Potential limitations – growth, image, operations, finance
    • Potential risks – unlimited liability, loss of control e.g. to shareholders, closure, bankruptcy/insolvency
  • Types of business organisations
    • Sole trader – Personal finance, savings, profit
    • Partnership – profits,
    • Unlimited company – Personal finance, savings, profit
    • Limited company – profits, share, floating
    • PLC – shares, reissues
  • Sources of finance
    • Savings, loans, profit, share capital, floatation, private equity
  • Legal considerations
    • Health and safety
    • Environmental
    • Employment and redundancy
    • Contract
    • Insurance
  1. Understand factors that determine market potential
  • Market conditions
    • PEST (Political, Economic, Social/Ethical, Technical)
    • Competitor analysis e.g. characteristics and strategies of the competition
    • Estimating the market size
    • Gaps
    • For the new products or services
    • Emerging trends e.g. due to aging population, as a result of new technology
    • Changing requirements
  • Target markets
    • Socioeconomic
    • Age
    • Gender
    • Occupation
    • Sources of finance
    • Special factors
    • Personality indicators
    • Geographical
  1. Be able to develop a business case
  • Develop vision/aims and objectives (in relation to….)
    • Market conditions
    • Target market
    • Market gaps
  • External factors
    • PEST (political, economic, social, technological)
    • Gap analysis
    • Market conditions
  • Specify
    • The product e.g. details, dimensions, purpose, longevity, target market, international or
    • National market, pricing, distribution and marketing
  • Business structures and systems
    • Organisational structure
    • Resource management systems
    • Communication and customer service
    • Technology requirements/systems
  • Forecasts
    • Financial forecasts
    • Physical forecasts
    • Sales forecasts
    • Short and longer term
  • Business responses
    • Use of contingency funds
    • Closure
    • Insolvency and bankruptcy
    • New markets
    • More funding
  1. Be able to pitch a business proposal
  • Pitch
    • Present persuasive case
    • Provide supporting documentation
  • Present documentation
    • Vision and aims
    • Needs and target market
    • Business systems
    • Forecasts
  • Entry Level Managers

How many students are there in a classroom?

It depends on how many would enroll per intake. Even if the number of students are just 1, we still continue with the training as planned. The maximum number of students we will have in a classroom is 10.

Can I request a date that is convenient for me?

Absolutely! We will arrange the training that is convenient for you. The training date is completely customizable.

Can I change the course content?

Yes, if the contents of the course needs to be changed, please let us know. We will communicate with you and get a course outline that works for you finalized.

Does it matter which industry I work at?

It really doesn’t. We take cases and discuss them to cover your industry. If you need the course to be customized and tailored to your industry, we can also do that. You’d have to let us know in advance by filling out the form below.

(The fees include coffee breaks, study materials and working lunches daily)

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