Kent Round One

Module Details
The module will look at the new business planning process, developing and evaluating the business idea, & producing a business plan for potential lenders. It will examine reasons for business failure, risks and liabilities, skills requirements for business ownership, & sources of advice and support for businesses. It will cover the financial aspects, market research & planning, quality standards, legal issues, staff and physical resources, and the overall planning and implementation of the business plan.

Summary Intended Learning Outcomes:

Students will achieve the following learning outcomes:

* Understand the financial processes relevant to a new business venture including budgetary planning and control, cash-flow forecasting, VAT, break even analysis, personal survival budgets, book-keeping, financial accounts and credit control.
* Understand the legal aspects of developing a new business including trading status, risks and liabilities, relevant UK and EU legislation, insurance and insolvency.
* Understand the planning processes for implementing the proposed venture in terms of planning self-development, planning and obtaining physical resources, planning staff resources, identifying financial resource requirements, and planning the phased implementation of the proposals.
* Understand the marketing processes including researching the potential market and competitors, identifying market segments, preparing a marketing plan, ensuring quality of products and/or services, and understanding customer relationships.
* Prepare a viable Business Plan for a new venture that is capable of being presented to a potential lender or financial institution without substantial modification.

Method of Assessment: Completion of business plan for a new business (6,000-8,000 words)
Contact Hours: Autumn: 12 x 2-hour wkshps Kent credits 15 /ECTS Credits: 7.5