Investigate micro business opportunities
Online course | Trainer supported | Nationally recognised
One of the most important first steps toward establishing a new business is to understand the environment in which it will operate. Researching the market for your idea will help you to work out if your idea could succeed.
This course covers the skills and knowledge required to consider the major elements of a business idea, undertake research to determine viability of the business opportunity and present the idea with reference to the legislative frameworks affecting the business.
It's designed for individuals who are establishing or operating a micro business for self-employment.
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This course is structured into three modules:
1. Detailing and describing alternative business ideas, target customers, available resources
2. Identifying market opportunities, investigating trends and emerging markets and addressing risk factors
3. Understanding what market forces may impact viability of the business idea
This course is designed to help you explore new business ideas and research whether their is a demand the business services/products together with highlighting market opportunities.
Decribe business ideas
- Gather information for business ideas from appropriate sources
- List details of business ideas and opportunities
- Research alternative business ideas in light of available resources
- Specify and list products and services to match business ideas
- Identify and research potential customer information for business ideas
- Identify and take into account available financial, digital technology, business and technical skills when researching business opportunities
Identify market needs
- Collect information regarding market size and potential from appropriate sources
- Investigate market trends and developments to identify market needs relative to business ideas
- Gather market information from primary and secondary sources to identify possible market needs in relation to business ideas
- Identify ethical and cultural requirements of the market, and their relevance for business ideas
- Identify new and emerging markets and document their features
- Identify and organise information on expected market growth or decline and associated risk factors
Investigate factors affecting the market
- Identify projected changes in population, economic activity and labour force that may impact business ideas
- Identify movements in prices, and projected changes in availability of resources
- Review trends and developments and identify their potential impact on business ideas
There are no formal educational entry requirements for this course.
To support a successful learning experience student will require:
1. Minimum technology requirements including access to a device (desktop/mobile/tablet), reliable internet connection and use of a personal email account.
2. Access to a current or previous workplace to support the completion of work-based assessment and observation. Students who do not have access to a work environment will be supported with an alternative scenario.
3. The ability to create and supply a Unique Student Identifier. You can create a new USI or look up your existing USI at www.usi.gov.au.
Course Delivery and Support
This course is delivered online via MiTraining’s Learning Management System (LMS). When you enrol you’ll be asked to setup your LMS student account and will then be granted immediate access to the course materials including:
- Course content and reading materials
- Activities and assessments
- Discussion forums
- Supplementary learning materials
MiTraining trainers and assessors are qualified to deliver vocational education and training courses and hold current industry knowledge and expertise. A requirement for all trainers is that they can demonstrate vocational competency – that means they must have the particular skills and knowledge relevant to the course they are delivering.
All accredited courses include assessment. To gain a Statement of Attainment you must attempt and be deemed “competent” in each assessment item.
Your trainer will work with you to ensure you understand what is required in each assessment item. The assessments may take the form of questions, discussions, written projects, case studies, workplace scenarios or observation.
Each assessment method provides a different type of evidence. Taken together, the complete assessment provides a holistic view of your ability to perform competently and confidently in the workplace to the level set down in the Competency Standards.
This course includes the unit of competency:
- BSBSMB301 Investigate micro business opportunities
Students who complete the course assessment may gain credit towards the nationally recognised Certificate III in Micro Business Operations offered by MiTraining.
What does the course cost?
The course fee is $184. For more information see the Course Details and Course Inclusions box on this course page.
Do I have to do the assessment?
This is an accredited short course based on the unit of competency BSBSMB301 Investigate micro business opportunities. To gain a statement of attainment you must complete all assessment tasks. If you inform us that you do not wish to attempt the assessments, you can participate in the course as a non-award student.
Who is the course accredited with?
The course incorporates the single unit of competency BSBSMB301 Investigate micro business opportunities from the Australian Business Services Training Package. This unit of competency is a core unit within MiTraining’s Certificate III in Micro Business Operations. Vocational education and training packages are regulated by the Australian Skills Quality Authority (ASQA).
What kind of support do I get?
You will be assigned a dedicated, qualified trainer to support you through the course and assessments.
What's a micro business
The terms micro business and small business are often used interchangeably. According to the Office of the Chief Economist, micro businesses represent around 25% of all businesses in Australia. A small business is defined as one with an annual turnover of less than $2 million (excluding GST) and employing fewer than 15 people.
Micro businesses also fall into this turnover category but will usually only employ between one (being the owner/operator) and four people.
Examples of micro business operators include freelance consultants, web and creative designers, personal trainers, small café or retail owners, individuals in private practice or those using a skill to provide personal services such as hair dressing or a trade.
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