Unit of competency Outline
Date retreived
22/07/2026 5:07 AM AWST
22/07/2026 5:07 AM 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.
Research and develop business plans
Research and develop business plans
Unit of competency
National Code
BSBESB401
BSBESB401
State Code
OCF73
OCF73
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
16/03/2021
Field of Education
080301 - Business Management
Original Release Date
16/03/2021
Nominal Hours
45
Description
This unit describes the skills and knowledge required to research and develop business plans for achieving business goals and objectives.The unit applies to those establishing or operating a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Prepare to develop business plan
- 1.1 Identify purpose and required components of business plan
- 1.2 Identify and document business goals, objectives and budget
- 1.3 Research market needs and estimate market size
2. Draft business plan
- 2.1 Establish resource, legal and compliance requirements according to identified business goals and objectives
- 2.2 Assess product mix, volumes and pricing opportunities relevant to the identified target market and according to business goals and objectives
- 2.3 Plan marketing activities relevant to the product mix and according to marketing objectives and strategies and budgetary requirements
- 2.4 Develop draft plan according to identified business goals, objectives and market needs
- 2.5 Analyse draft plan and identify, assess and prioritise internal and external risks according to workplace procedures
- 2.6 Research specialist services and sources of advice and cost according to available resources
3. Create a business plan
- 3.1 Identify costs associated with production and delivery of business products and/or services
- 3.2 Calculate prices based on costs and profit targets, as a charge-out rate for labour or unit price for products and/or services
- 3.3 Prepare cash flow projections to enable business operation according to business plan and legal requirements
- 3.4 Select budget targets to enable ongoing monitoring of financial performance
- 3.5 Identify sources of finance for required liquidity according to business goals and objectives and workplace procedures
4. Finalise business planning and plan for risk
- 4.1 Develop risk management strategies according to business goals and objectives, and legal and compliance requirements, and established business activities
- 4.2 Assess likelihood of non-conformance with each component of business plan
- 4.3 Develop a contingency plan to address possible areas of nonconformance according to workplace procedures
- 4.4 Identify specific interests and objectives of key stakeholders and confirm their support of planning outcomes
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| OAE52 | BSBSMB422 | Plan small business growth | Unit of competency |
| AWF75 | BSBSMB415 | Refine and strengthen a small business | Unit of competency |
| AUH57 | BSBSMB404 | Undertake small business planning | Unit of competency |