Elements and Performance Criteria

RANGE STATEMENT
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.
Regulatory, taxation and insurance requirements may include:
local, state/territory, commonwealth and international legislation, regulations and codes of practice affecting business operations such as:
Acts and regulations
industry and OHS codes of practice
business registrations and licences
planning and other permissions
environmental legislation
industrial law, agency law, property law, consumer legislation and standards, Torts Law and duty of care
equal employment opportunity (EEO) and anti-discrimination legislation
anti-competition regulations
Information gathered may include:
government agencies
industry associations
internet
written material
Taxation requirements may include:
Australian Business Number
Business Activity Statement and goods and services tax (GST) returns
GST registration
PAYG and withholding arrangements
tax file number
Insurance requirements may include:
comprehensive insurance for vehicles/property
professional indemnity insurance
public liability insurance
third party insurance on motor vehicles
workers compensation
other insurance cover as required by state/territory or commonwealth legislation, contractual obligations or as recommended for the industry/type of business
Sources of advice and specialist services may include:
accountants
business advisers
financial planners and insurance brokers
funding bodies
government agencies (for example, Indigenous Business Australia, Office of Aboriginal Economic Development)
industry/trade associations
insurance brokers
lawyers

EVIDENCE GUIDE
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

Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the following is essential:
identification of regulatory, taxation and insurance compliance requirements and risk minimisation needs of the business
identification of sources of advice on compliance and risk minimisation procedures for the business
development and review of procedures for compliance and risk minimisation (with assistance from advisers)
knowledge of legislative requirements affecting business operation.
Context of and specific resources for assessment
Assessment must ensure:
access to relevant documentation
candidate's individual circumstances and work in the context of establishing or running a micro business, are the basis for assessment.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
oral or audio-visual presentation of a case study of a micro business in similar field and location as candidate's proposal
portfolio of evidence including identification of relevant compliance and risk minimisation needs for the micro business, and development of risk minimisation and compliance procedures (with assistance from advisers)
review of implementation of procedures
review of insurance cover arranged for the business.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
BSBSMB302A Develop a micro business proposal.