Unit of competency Outline
Date retreived
22/07/2026 1:30 PM AWST
22/07/2026 1:30 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Undertake small business planning
Undertake small business planning
Unit of competency
National Code
BSBSMB404
BSBSMB404
State Code
AUH57
AUH57
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080301 - Business Management
Original Release Date
15/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to research and develop an integrated business plan for achieving business goals and objectives.It applies to individuals who operate a small business that operates independently, or as part of a larger organisation. Individuals in this role interpret business information and numerical data competently.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify elements of the business plan
- 1.1 Identify purpose of the business plan
- 1.2 Identify and review essential components of the business plan
- 1.3 Identify and document business goals and objectives as a basis for measuring business performance
2. Develop a business plan
- 2.1 Research resources, legal and compliance requirements, specifically in relation to work health and safety (WHS), in accordance with business goals and objectives
- 2.2 Research market needs, and market size and potential
- 2.3 Identify sources and costs of finance, from financial plan, to provide required liquidity and profitability for the business
- 2.4 Identify methods, from marketing strategies, to promote market exposure of the business
- 2.5 Identify methods or means of production or operation from production or operations plan to conform with business goals and objectives
- 2.6 Identify staffing requirements to effectively produce or deliver products and services
- 2.7 Identify, assess and prioritise internal and external risks
- 2.8 Identify specialist services and sources of advice, where required, and cost in accordance with available resources
3. Develop strategies for minimising risks
- 3.1 Identify specific interests and objectives of relevant people and seek and confirm their support of planned business direction
- 3.2 Identify and develop risk management strategies according to business goals and objectives, and relevant legal requirements
- 3.3 Develop a contingency plan to address possible areas of nonconformance with the plan
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| D1015 | BSBSMB404A | Undertake small business planning | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| OCF73 | BSBESB401 | Research and develop business plans | Unit of competency |