Elements and Performance Criteria
- Explore potential business ideas
- Identify products and services available from local micro and small businesses
- Identify products and services not available locally
- Determine opportunities for new micro businesses based on gaps in available goods and services
- Identify and utilise a range of sources to gather information about micro business opportunities identified
- Outline processes to be undertaken by the micro business to provide products/services
- Compare personal skills and aspirations with micro business opportunities
- Identify personal reasons for entering into a micro business in realistic terms of own personal commitments, expectations and capabilities
- Match personal capabilities realistically with identified business opportunities
- Examine personal commitments, expectations and capabilities to realistically identify impact on preferred business opportunity
- Examine options to address and minimise negative impact and strengthen positive impact of these aspects
- Access business learning opportunities, mentoring and advice
- List skills and knowledge required to develop and operate, to maximise the business opportunity
- Identify and interpret business information and terminology
- Identify gaps in personal skills and knowledge needed for the business
- Identify appropriate learning opportunities to rectify gaps in personal skills and knowledge
- Identify potential mentors, advisers, networks and sources of assistance for the business