Required skills

communication skills to question and seek clarification from advisers on regulatory taxation or insurance matters

literacy skills to interpret relevant regulatory taxation and insurance information

research skills to investigate compliance requirements

Required knowledge

business registration and licensing requirements

commonwealth stateterritory and local government legislative requirements relating to business operation especially in regard to occupational health and safety OHS and environmental issues equal employment opportunity industrial relations and antidiscrimination

nature of legal responsibility

relevant industry codes of practice

relevant OHS responsibilities and procedures

sources of advice and specialist services

sources of information about regulatory taxation and insurance requirements and issues

taxation requirements

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential

identification of regulatory taxation and insurance compliance requirements and risk minimisation needs of the business

identification of sources of advice on compliance and risk minimisation procedures for the business

development and review of procedures for compliance and risk minimisation with assistance from advisers

knowledge of legislative requirements affecting business operation

Context of and specific resources for assessment

Assessment must ensure

access to relevant documentation

candidates individual circumstances and work in the context of establishing or running a micro business are the basis for assessment

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples are appropriate for this unit

oral or audiovisual presentation of a case study of a micro business in similar field and location as candidates proposal

portfolio of evidence including identification of relevant compliance and risk minimisation needs for the micro business and development of risk minimisation and compliance procedures with assistance from advisers

review of implementation of procedures

review of insurance cover arranged for the business

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector workplace and job role is recommended for example

BSBSMBA Develop a micro business proposal

BSBSMB302A Develop a micro business proposal.

Regulatory, taxation and insurance requirements may include:

Information gathered may include:

Taxation requirements may include:

Insurance requirements may include:

Sources of advice and specialist services may include: