TAP> Finance a New Venture
Course Purpose Assessing the capital needs of a new venture, comparing short-term and long-term funding options available in the finance industry, compiling personal financial statements, understanding the requirements and processes to access selected financing options, and identifying alternative sources to …
Course Purpose
Assessing the capital needs of a new venture, comparing short-term and long-term funding options available in the finance industry, compiling personal financial statements, understanding the requirements and processes to access selected financing options, and identifying alternative sources to secure finance for a new venture are critical steps in financial planning and securing resources for a new business.
What you’ll learn
This unit standard is intended for learners who must make decisions and recommendations about financing options for a new venture. The qualifying learner will be able to determine the capital requirements of the new venture. Identify and compare all short-term and long-term funding options and services the finance industry offers for new ventures. Compile personal income and expenditure and assets and liabilities statements. Identify the requirements and processes to access the selected financing option for the new venture. Identify alternative sources to secure finance for a new venture.
Duration: 1 Day
Curriculum
- 5 Sections
- 22 Lessons
- 1 Day
- Unit 1: Explain financial controls for managing a businessASSESSMENT CRITERIA5
- 0.0Funding requirements and capital structure are identified and analysed for the new venture.
- 0.1Realistic fixed asset requirements are determined for the new venture.
- 0.2Pre-operating costs are identified and calculated to an exact value.
- 0.3Monthly operating costs – including a cash flow statement – are compiled for the new venture.
- 0.4The financial viability of the proposed new venture is assessed and estimation made of the break-even point.
- Unit 2: Identify and apply accounting practices and proceduresASSESSMENT CRITERIA4
- 0.0An extensive list of financial institutions offering funding for new ventures is compiled with a view to selecting the one best suited to the venture.
- 0.1The various funding packages (products) appropriate for a new venture are investigated and compared in terms of own venture needs.
- 0.2The cost of the various funding options is compared to determine suitability for own venture’s business structure.
- 0.3Short-term and long-term advantages and disadvantages of the various funding options are considered and discussed in context of own business and a decision made as to the most suitable.
- Unit 3: Manage business accounts and maintain business recordASSESSMENT CRITERIA2
- Unit 4: Utilise financial statements to identify business progressASSESSMENT CRITERIA5
- 0.0Collateral requirements for accessing funding are identified to determine if they can be met.
- 0.1The new venture proposals are assessed in terms of available collateral.
- 0.2The information and back-up documentation needed to process application for funding is collected and used to complete the application.
- 0.3A financing option is chosen that is consistent with the business plan in terms of profit objectives and return on capital.
- 0.4Laws, regulations, rules and procedures covering the provision and use of financial services are observed to ensure compliance.
- Unit 5 : Identify alternative sources to secure finance for a new venture.ASSESSMENT CRITERIA6
- 0.0The difference between debt (loans) and equity (owner’s capital) is explained with reference to the new venture.
- 0.1Problems faced in obtaining finance for the new venture are identified with a view to overcoming them.
- 0.2Alternative sources of equity are investigated for the new venture.
- 0.3Government and non-governmental schemes for new venture creation are investigated and analysed and an explanation given of their advantages and disadvantages for the new venture.
- 0.4The option of leasing as a method of reducing start-up capital is considered for your own venture.
- 0.5The repayments and interest rates of the alternative options are considered and compared to those of the financial institutions to make informed decisions.
Requirements
- Grade 11
- NQF Level 3
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Course Features
- Lectures 22
- Quizzes 0
- Duration 1 day
- Skill level All levels
- Language English
- Students 1863
- Assessments Yes