NEW VENTURE CREATION
- COURSE NAME:NEW VENTURE CREATION COURSE
- REQUIREMENTS: Computer and Internet.
- ENTRY LEVEL: All levels, basic numeracy and literacy.
- MINIMUM TIME: 2 Hours +
- PASS RATE: Required 80%, unlimited re-take.
- EXAM TYPE: Online QUIZ, True/False and Match.
- CERTIFICATE: Instant download on completion.
1.IDENTIFY, GATHER AND ANALYSE THE RELEVANT INFORMATION NEEDED TO COMPILE A PLAN FOR A NEW VENTURE.
- The purpose and importance of a business.
- The different elements of a successful business plan are listed and described.
- Information on the resources needed and procedures to be followed to achieve the plan is compiled.
- The industry specific and legal requirements for own venture are identified and explained in terms of how they will affect the venture.
- PAYE – PAY AS YOU EARN
- SITE – STANDARD INCOME TAX ON EMPLOYEES
- VAT – VALUE ADDED TAX
- UIF – UNEMPLOYMENT INSURANCE FUND
- RSC – REGIONAL SERVICES COUNCILS
- COID – COMPENSATION OF OCCUPATION INJURIES AND DISEASE
- SKILLS DEVELOPMENT LEVY
- INDUSTRY REGISTRATIONS
2.FORMULATE AN ETHICAL FRAMEWORK FOR THE OPERATIONAL PLANS OF A VENTURE.
- Legislation and relevant regulations relating to the type of venture are identified for use in drawing up a code of ethics for the business
- Non-statutory regulations applicable to the sector are identified and used in drawing up a code of ethics for the business.
- Codes of conduct that are used by similar organisations in the sector are evaluated and elements identified for inclusion in an ethical framework for the business.
- Social and ethnic considerations are identified for inclusion in the ethical framework of a new venture.
- Personal values are identified for modifying an ethical framework for a new venture.
- An ethical framework and codes of ethics and conduct are drawn up for a new venture.
3.ESTABLISH AND PRIORITISE BUSINESS, FINANCIAL AND/OR OPERATIONAL GOALS
- Personal objectives are clearly articulated and aligned to the plans of own venture.
- Business objectives are analysed and specific goals formulated to achieve objectives set out for own business.
- A vision statement of a new venture is compiled to represent goals and objectives set for own venture.
- Specific short and long term goals are formulated allowing flexibility for possible changing circumstances.
- Possible contribution to community and regional growth objectives are identified and considered.
- Cultural values and beliefs of prospective employees and expected consumers are incorporated into the plans of own venture.
4.DESIGN AND PRESENT BUSINESS, FINANCIAL AND/OR MARKETING PLANS BASED ON A BUDGET FOR A NEW VENTURE.
- The business of the venture is introduced and described based on research and analyses of competitors.
- Structure and layout of the business plan is designed to be compatible with the nature of own venture.
- Marketing and promotion of the own venture is concisely presented in the business plan.
- Finance requirements for the business are stated in the business plan.
- The projected income and expense items for own venture are tabulated in the business plan.
- The costs, risks and proposed infrastructure of the operations plan is presented in the business plan of own venture.
- Relevant documentation is compiled to support the business plan.
- Business plan information is presented to financier is explained in a relevant and clear format.