Assessment Task 3 BSBSMB404A Undertake Small Business Planning

Assessment Task 3 BSBSMB404A Undertake small business planning

Business plan

Submission details

Candidate’s Name / Phone No.
Assessor’s Name / Phone No.
Assessment Site
Assessment Date/s / Time/s

The Assessment Task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.

Submit this document with any required evidence attached. See specifications below for details.

Performance objective

You are required to develop a business plan in accordance with the template provided.

Assessment description

You are required to develop a business plan for either a small business or the department of a larger organisation which you currently operate or propose to operate.

A template for a business plan is provided in the appendix of this assessment. Follow the instruction provided at the start and throughout the template featured in italics.

The template is best completed in electronic format.

Evidence of the development of the business plan is required. Learning Activities one to ten from your workbook are required to accompany the business plan submitted for assessment. Your Assessor will advise you on the format that should be submitted.

Procedure

The template for this assessment will be provided to you by your facilitator. It is based upon the business plan available at:

· <http://www.business.gov.au/businessplan>.

Parts have been edited out and sections added to ensure relevance to and compliance with evidence requirements of the unit of competency.

The template is suitable for use with a number of different business sectors, e.g. manufacturing, services, retail, web based or a mixture of these.

Select a suitable case study (The one you have been using throughout this unit).

This case study should be the small business that you currently operate, propose to operate or smaller department of a larger organisation.

Start at the Section 2 titled ‘The Business’.

The section titled ‘business plan Summary’ despite being at the front of the plan this section should be addressed last as this offers a summarising snapshot of the business and should be reflective of the plan as a whole.

If you need any guidance in addressing each section, undertake the following.
Refer to the explanatory notes in square brackets [ ] that accompany each title. These notes provide advice to your assessor on the requirements of your response when making a decision on competency within the bounds of relevance to your case study. You need only address notes that are relevant to your case study.
Request advice from your assessor.
If you need to explain to your assessor the reason for an inclusion or exclusion to items covered in the explanatory notes, these should be in italics in a similar style to the guiding notes.

Specifications

You must provide:

· a completed report in the timeframe set by your assessor

· a completed report with the template provided.

Your assessor will be looking for:

· development of the plan relating to the comparison of the Student Workbook learning activities one to ten to the final business plan submitted for Assessment, which should demonstrate a natural evolution or refinement of the different features of the plan

· that the purpose of the business plan has been identified

· essential components of the business plan has been presented in the five sections : i.e. the business plan Summary, The Business, The Market, The Future and The Finances been satisfactorily addressed

· business goals and objectives have been identified and documented as a basis for measuring business performance

· market research has been sufficient to indicate market needs, and market size and market potential

· sources and costs of finance have been identified from the financial plan, to provide required liquidity and profitability for the business

· methods of marketing strategies have been identified to promote and develop market exposure of the business

· methods/means of production/operation from the operations area of the plan sufficient to produce the business goals and objectives

· staffing requirements to effectively produce/deliver products/services as stated have been identified

· specialist services and sources of advice, where required, and cost in accordance with resources available have been identified

· support of relevant people have been sought and confirmed regarding their specific interests and objectives in regards to the planned direction of the business as outlined in the business plan

· correct spelling and grammar.

Adjustment for distance-based learners:

· No variation of the task is required.

· A follow-up interview may be required (at the discretion of the assessor).

· Documentation can be submitted electronically or posted in the mail.

Business plan template

This Assessment is based upon the business plan template developed by the Australian Government’s principal business resource, located within the Department of Innovation, Industry, Science and Research.

This template has been amended to address the requirements of the Assessment for this unit. The latest version of the original template can be downloaded from:

· <http://www.business.gov.au/businessplan>.

Assistance or referral about a small business issue is available at Small Business Support Line on 1800 77 7275.

Advice for completing this Assessment Task

Use the [italicised text] – The italicised text is there to help guide you by providing some more detailed questions you should address when preparing your response. Delete this guiding text when the section is completed.
Actual vs. expected figures – Existing businesses can include actual figures in the plan, but if your business is just starting out and you are using expected figures for turnover and finances you will need to clearly show that these are expected figures or estimates.
Write your summary last – Use as few words as possible. You want to get to the point but not overlook important facts. This summary version will often be the most used and viewed document which enable prospective banks, investors, partners or wholesalers to be able to quickly read your summary. Ensure it is a reflective and motivating view of your proposition.
Errors – Errors will detract from meeting the above requirements; it is advisable to ask an impartial person to proofread before submission of your final plan.

Your facilitator will provide you with an electronic copy of the template.

Assessment Task 3 BSBSMB404A Undertake small business planning

[INSERT YOUR BUSINESS LOGO]

[Your Name]
[Your Title]

[Business Name]

[Main Business Address]

ABN: [ABN]

ACN: [ACN]

[Business Name]

Business plan

Prepared: [Date prepared]

Section 1

Business plan summary

[Complete this section last]

Your business summary should focus on why your business is going to be successful. Your answers below should briefly summarise your more detailed answers provided throughout the body of this plan.

Introduction

Identify the purpose of the business plan. This should communicate to your reader your resolution for success ... e.g. ‘The purpose of the law is to control pollution’. The purpose for which you are creating this business is to … or, in a simpler term, what does it need to achieve for the outcome to be determined as a success?

The Business

Business name:

[Enter your business name as registered in your state/territory. If you have not registered your business name, add your proposed business name.]

Business structure:

[Sole trader, partnership, trust, company.]

ABN:

[Registered Australian business number? Write TBA if an application is pending.]

ACN:

[Registered Australian company number, delete if not applicable.]

Business location:

[Main business location.]

Date established:

[The date you started or plan to start trading.]

Business owner/s:

[List all of the business owners.]

Relevant owner experience:

[Briefly outline your experience and/or years in the industry and any major achievements/awards.]

Products/services:

[What products/services are you selling? What is the anticipated demand for your products/services?]

The Market

Target market:

[Who are you selling to? Why would they buy your products/services over others?]

Marketing strategy:

[How do you plan to enter the market? How do you intend to attract customers? How and why will this work?]

The Future

Vision statement:

[The vision statement briefly outlines your future plan for the business. It should state clearly what your overall goals for the business are.]

Goals/objectives:

[What are your short and long term goals? What activities will you undertake to meet them?]

The Finances

[Briefly outline how much profit you intend on making in a particular timeframe. How much money will you need up-front? Where will you obtain these funds? What portion will you be seeking from other sources? How much of your own money are you contributing towards the business?]

Support from relevant people

The actual direction chosen for the business to proceed is summarised above. For that direction to have every chance of success support is needed of the people relevant to the Business and relevant to you. This needs to be confirmed. Summarise in the table provided below what the relevant group is, what it is looking for from the business and record that their support for the direction of the business plan has been sought and confirmed. Explanatory notes are provided.

Relevant people / Interest and objective / Support /
Use this column to address those relevant to your business plan or provide a short explanation why they are not relevant / Use this column to address what this person desires for the business to achieve.
e.g. Client – better quality product that can be supplied immediately on demand / Use this column to briefly note how agreement has been established. Is support for the planned business direction outlined here confirmed and how?
Clients / Client may express their support from a market survey and/or placement of orders prior to-release
Family members / A family member may express support verbally
Owner/operator (not required if you fulfil this position)
Franchise agency
Partners
Financial backers
Regulatory bodies / This may require an audit, consultant inspection or compliance process to be adopted
Suppliers / A supplier may have a written agreement
Trade or industry associations / Codes of practice being met

Section 2

Business details

Products/services:

[What products/services are you selling? What is the anticipated demand for your products/services?]

Registration details

Business name:

[Enter your business name as registered in your state/territory. If you have not registered your business name, add your proposed business name.]

Trading name:

[Registered trading name/s.]

Date registered:

[Date business name registered.]

Location/s registered:

[State/s you are registered in.]

Business structure:

[Sole trader, partnership, trust, company.]

ABN:

[Registered Australian business number? Write TBA if an application is pending.]

ACN:

[Registered Australian company number, delete if not applicable.]

GST:

[Are you registered for Goods and Services Tax? Date registered?]

Domain names:

[Registered domain names.]

Licences and permits:

[List all the licences or permits you have registered.]

Business premises

Business location:

[Describe the location and space occupied/required. What is the size of the space you occupy/require? Which city or town? Where in relation to landmarks/main areas? If you have a retail business, where are you in relation to other shops? What is the retail traffic like?]

Buy/lease:

[If you have purchased a business premises or are currently leasing, briefly outline the arrangements. If you are still looking for a lease, outline your commercial lease requirements and any utilities/facilities required.]

Organisational chart

[Outline your business structure in a chart like that below.]

Figure 1: Organisational Chart. [Complete this chart or include your own. Identify at what stage of the Business operation this structure will occur]

Management and ownership

Names of owners:

[List all of the business owners.]

Details of management and ownership:

[As the owner/s, will you be running the business or will a Chief Executive Officer (CEO) be running the business on your behalf? What will be your involvement? If it is a partnership briefly outline % share, role in the business, the strengths of each partner and whether you have a partnership agreement/contract in place?]

Experience:

[What experience do the business owner/s have? How many years have you owned or run a business? List any previous businesses owned/managed. List any major achievements/awards. What other relevant experience do you have? Don’t forget to attach your resume/s to the back of your plan.]

Key personnel

Current staff

List your current staff in the table below.

Job title / Name / Expected staff turnover / Skills or strengths
E.g. Marketing/ Sales Manager / Mr Chris Brantley / 12–18 months / Relevant qualifications in Sales/Marketing. At least 5 years experience in the industry. Award in marketing excellence 2007.

Required staff

List your required staff in the table below.

Job Title / Quantity / Expected staff turnover / Skills necessary / Date required
E.g. Office Manager / 1 / 2–3 years / Relevant qualifications in Office Management. At least 2 years experience. / Dec 09

Recruitment options

[How do you intend on obtaining your required staff? Advertising in the local paper, online advertising, and/or training current staff members?]

Training programs

[Are there any training programs you will be organising in the event you cannot find the required skills? Are these in-house or external providers? What training will you as the business owner/manager undertake to keep your skills current?]

Skill retention strategies

[What procedural documentation will you provide to ensure the skills of staff are maintained? Do you have an appropriate allocation of responsibilities? How are responsibilities documented and communicated to staff? What internal processes will you implement to regularly check that the current skills of staff members are still appropriate for the business?]

Specialist services

[Identify the specialist services that you have identified as being needed. These should include both the set-up stage and during operations annually. You should consider both services and/or sources of advice. Ensure you include the most accurate cost of these available to you and ensure that these expenses are reflected in the financial section. Items to consider may include auditing, legal advice regarding drafting of confidentiality agreements, protecting your innovations including current trademarks and patents and registering any domain names and setting-up your shop front on the worldwide web.]