Every year new start-up businesses begin trading, but only two-thirds will survive into their third year of trading and just half will remain after five years. For most businesses, it is not a lack of customers or poor-quality products or services that are responsible for their failure but simply a lack of cash and business acumen. It is important to have a basic knowledge of managing a business and an overall understanding of the services offered to customers in order to survive.
This course will give students a practical understanding of the key aspects of running a small business or social enterprise. Students will learn about the activities involved in running a small business, including developing good relationships with customers, planning and allocating operational resources, forecasting and budgeting, interpreting financial statements, being an employer, dealing with legislation and regulation, and how to put a business plan together.
Students will develop an understanding of how all the different aspects of running a business interrelate so as to achieve success and develop an appreciation of the benefits and importance of organisation and planning.