Lightbulb

Starting & Managing a small business

This is a ‘need-to-know’ or ‘eyes-wide-open’ course in that it covers the principles that small business owners need to be aware of, otherwise the risk of failure will be high. It is an information course covering: the business environment, getting into a small business, business legal structures, valuing a business, financing a business, strategic and operational planning, budgeting, marketing and e-commerce as related to marketing, financial analysis, customers, staff, taxation, business law, risk assessment and getting out of business.

Entry Requirements

None

Student Instructions

Bring a pen and notebook

Topics

The following topics are covered:

• The business environment
• the market niche
• the golden rules of business
• small business owner/manager responsibilities
• the life cycle of a business
• the business cycle

Valuing a business for purchase or sale

• “rules of thumb” valuations
• the valuation information in the balance sheet
• establishing the goodwill of the business
• the balance sheet audit

Legal structures for a small business

• sole trader
• partnership
• trust
• company

The rules for financing a company

• maintaining the profitability and liquidity objectives
• investment in current and non current assets
• the use of debt and equity finance
• asset replacement
• financing the future goals of the business

Business planning

• strategic
• operational
• budget

Marketing and E commerce as it relates to marketing

• the target market
• competitive advantage
• the marketing mix
• maintaining customer contact
• internet trading – advantages and pitfalls

Financial Analysis

• cash management
• techniques for profitability analysis

Customers and staff

• customer loyalty
• customer profitability
• fair trading
• engaging competent staff
• staff motivation
• industrial relations

Getting out of business

• valuing and protecting good will
• the company history
• wills and enduring powers of attorney

Business law

• business organisations
• law of contract
• law of agency
• consumer protection
• privacy
• bankruptcy

Business risk

• conducting a business risk analysis
• insurance

Career Prospects

The course is suitable for new venture start ups, supervisory and management roles and self employment.

Delivery Style

In an informal class situation where interaction is encouraged both with other students and with the teacher. Work books and handouts supplied.

Outcomes

Participants will be confident in preparing to start their own businesses, aware of the many potential pitfalls associated with the new ventures.

A student quote . . . I enjoyed the level of knowledge Anthony has of the small business environment. He gave a good overview of the pitfalls of starting a small business and information on where to go for more information. It was great. Thank you Anthony. – D Ward