3.16 Prepare a Plan for Your Business

1. Understand how to prepare a plan for your business

1.1

Present a clear case for your business and evaluate its potential for success

1.2

Identify and provide a case for short, medium and long term goals for your business, based on the current market position

1.3

Explain how different parts of your business might affect each other, for example, how marketing and other hidden costs might affect your business

1.4

Select from a range of options the most suitable method to fund the business

2. Understand how to integrate the elements of your business plan

2.1

Set realistic targets and show how each part of your business will contribute to meet them

2.2

Describe how all aspects of your business will be funded and identify a budget for contingencies

2.3

Evaluate how relevant laws and regulations might affect your business plans

Unit aim(s)

Details of the relationship between the unit and relevant national occupational standards (if appropriate)

• BD3 : Plan where your business is going

Details of the relationship between the unit and other standards or curricula (if appropriate)

Not applicable

Assessment requirements specified by a sector or regulatory body (if appropriate)

Assessment to be based on naturally occurring evidence or realistic work environment

Endorsement of the unit by a sector or other appropriate body (if required)

Supported by SFEDI

Location of the unit within the subject/sector classification system

Name of the organisation submitting the unit

OCR

Availability for use

To be used only by the following partners engaged in the SFEDI Framework project when developing Business Enterprise Qualifications

CMI, Edexcel, IAB, ILM, NOCN, OCR, VTCT