Course Objectives
This course is designed to:
• Provide foundational knowledge on starting and managing a small business.
• Help students identify business opportunities within their vocational field.
• Teach financial literacy, business planning, and marketing strategies.
• Develop problem-solving and decision-making skills for business success.
Course Structure
The course includes 6 modules covered over 2 x 4-hour sessions with flexible delivery methods, including interactive workshops, case studies, and practical exercises.
Module 1: Introduction to Business Ownership/Entrepreneurship
- The basic understanding of aligning product/service offerings with target market segments and value propositions
- What are the business planning imperatives for starting your own business
- Registering your ABN and company name. How? (Practical)
- Business start-up costs and timeline (Practical)
- Understanding compliance and insurance
Module 2: Understanding the business landscape
- Self-evaluation of personal competencies/skillsets and blind spots
- How to read the competitive market landscape and develop your competitive advantage
- Ability to `read the market’ – political, economical, sociological and technological impact to the business
- Prioritising opportunities and mitigating risks
Module 3: Financial literacy for small business
- Revenue stream and how to develop basic financial acumen
- Tax compliance (ATO), obligation and implication (Practical)
- Cash-flow management – how to sustain your business financially
- Basic bookkeeping and financial management
Module 4: Business model understanding
- Customer segmentation, value proposition alignment and customer engagement strategies
- Setting up an efficient operation model. Understanding resource alignment and allocation
- Understand expenses and income impact on the business mode
Module 5: Contracting, sub-contracting & employee
- Legal status as a sub-contractor vs employee
- Key areas to protect yourself legally, financially & professionally
- Legal, insurance & liability compliance
- Tax obligation, superannuation, work health & safety & dispute resolution
Module 6: Go-to-market strategies
- How to write a simple, actionable and measurable business plan
- Develop cohesive strategies and plans
- Business review and understanding key levers to help drive success
Expected Outcomes
• Students will gain the confidence and skills to start their own businesses, manage finances, identify opportunities, and build a network of peers and mentors.
This course empowers students to apply their vocational skills while developing essential business knowledge to create sustainable businesses.