Elements and Performance Criteria

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

developing commercial and for-profit business opportunities as individuals

or
may be seeking development of a business opportunity on behalf of the community to, for example, generate employment and develop skills in addition to provide a net financial return

the quality and value of the business initiative
the potential size of the target market
the number of competitors in the market place
the capacity of the business to reach and service the target market in a cost effective manner

developed using hardcopy or software templates
Business plans typically include:
an analysis of the business environment including competitors and the sizing of potential markets
an analysis of the Strengths, Weaknesses, Opportunities and Threats to the business operator and business initiative
a description of the product/service/venture
an analysis of the fixed and variable costs associated with the initiative
project sales volumes, cash flow and costs over time
initial set up costs
funding needs

accountants
lawyers
venture capital providers
business information and support services (eg business incubators)
business consultants
marketing consultants

overdrafts
commercial bills
other credit facilities

interest bearing accounts
off-set business mortgages
statutory trust accounts
access to night-safes

business credit cards
business loans
commercial bills
hire purchase

business leases
novated leases

credit card services to manage business and travel expenses
information to support Fringe Benefit Tax (FBT) payment and reporting
information to support Goods and Services Tax (GST) payment and reporting

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

To achieve competency in this unit, a person must be able to demonstrate:

the capacity to form strong business relationships with individuals and communities
effective skills in the development of business opportunities and the matching of financial products, solutions and services that will meet the specific needs of customers is required

Evidence required for demonstration of consistent performance:
Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment.

Delivery/assessment relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.

Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Context of assessment:
This unit may be assessed in the workplace or in a simulated environment.

Resources required for assessment:
Assessment of this unit of competence requires access to company policies and practises and the technology/ systems used by the company to provide services to business customers.