NZQA Expiring unit standard 6403 version 7 Page 1 of 4 Title Produce self-assessments of suitability for managing small business enterprise opportunities Level 3 Purpose Credits 4 This unit standard is relevant for the investigation of personal aptitude for ownership or management of a small business enterprise. People credited with this unit standard are able to: identify personal business aspirations and establish goals for selfemployment; relate self-employment goals to business idea(s), and assess personal business competence in terms of business idea(s); identify form of participation and contribution of key individuals; and identify the interrelationships of diversity factors and business principles in relation to enterprise opportunities. Classification Business Environment > Business Culture and Environment Available grade Achieved Explanatory notes 1 Diversity factors refer to gender, disability, culture, age, sexual orientation, family status, religion, and Equal Employment Opportunities (EEO). 2 This unit standard focuses on one’s personal skills and aptitudes in relation to small business. Unit standard 1989, Research small business opportunities, focuses on the businesses themselves. 3 Small business enterprises are diverse, and preliminary assessments of small business opportunities could require consideration of a range of current legislation, such as: Commerce Act 1986 Resource Management Act 1991 Sale of Goods Act 1908 Fair Trading Act 1986 Income Tax Act 2007 Goods and Services Tax Act 1985 Health and Safety in Employment Act 1992 Employment Relations Act 2000 Privacy Act 1993 Human Rights Act 1993. NZQA National Qualifications Services SSB Code 130301 New Zealand Qualifications Authority 2016 NZQA Expiring unit standard 6403 version 7 Page 2 of 4 Outcomes and evidence requirements Outcome 1 Identify personal business aspirations and establish goals for self-employment. Evidence requirements 1.1 Potential self-employment options for the provision of products or services are identified, and are explained in relation to business aspirations. 1.2 Personal business skills and relevant previous experience are analysed, and are related to self-employment options. Range business skills may include but are not limited to – technical, occupational, professional, managerial, entrepreneurial, creative, industry experience. 1.3 The impacts of employment circumstances of job dissatisfaction and redundancy are examined in terms of influence on self-employment decisions. 1.4 Personal characteristics of successful small business managers are identified, and are contrasted with those of the potential self-employed person. 1.5 Personal goals and resources are identified, and are assessed in terms of personal strengths and weaknesses. 1.6 Personal business aspirations are identified, and self-employment goals established and prioritised in relation to business aspirations. Range self-employment goals – preferred type of business activity and business environment, extent of personal participation in business operation, income and standard of living expectations, personal growth and development needs, time commitment, short- or longterm business commitment. Outcome 2 Relate self-employment goals to business idea(s), and assess personal business competence in terms of business idea(s). Evidence requirements 2.1 Preliminary business idea(s) is developed, and the nature of the business activity and product of the business operation are specified. 2.2 Assessment and interpretation of the potential for, and methods by which financial and non-financial benefits will be derived from the business activity are realistic for the business operation. NZQA National Qualifications Services SSB Code 130301 New Zealand Qualifications Authority 2016 NZQA Expiring unit standard 6403 version 7 Page 3 of 4 2.3 The extent to which self-employment goals can be achieved through the implementation of business idea(s) is assessed and evaluated in terms of meeting personal business aspirations. 2.4 Assessment of the extent of compatibility of personal business skills with business idea(s) identifies gaps in capability to implement business idea(s). Range business skills may include but are not limited to – technical, occupational, professional, managerial, entrepreneurial, creative, industry experience. Outcome 3 Identify form of participation and contribution of key individuals. Evidence requirements 3.1 The nature and extent of participation and contribution of the founder/s in the small business enterprise are determined. Range participation options may include but are not limited to – owneroperator, owner-manager, owner-director, co-owner; part- or fulltime commitment. 3.2 The nature and extent of participation and contribution of family members in the small business enterprise are determined, and benefits and disadvantages of participation are clarified. 3.3 The extent of participation of other key people and associates in the business enterprise is determined, and the nature of their contribution is clarified. Range co-owners, key staff, investors, advisers. Outcome 4 Identify the interrelationships of diversity factors and business principles in relation to enterprise opportunities. Evidence requirements 4.1 Small business enterprise opportunity is assessed for the ability and extent to which cultural values can be incorporated. 4.2 Business and ethical principles are examined in terms of the interrelationship with cross-cultural and diversity factors. This unit standard is expiring. Assessment against the standard must take place by the last date for assessment set out below. NZQA National Qualifications Services SSB Code 130301 New Zealand Qualifications Authority 2016 NZQA Expiring unit standard 6403 version 7 Page 4 of 4 Status information and last date for assessment for superseded versions Process Version Date Last Date for Assessment Registration 1 22 February 1996 31 December 2015 Revision 2 12 May 1999 31 December 2015 Revision 3 8 February 2001 31 December 2015 Revision 4 12 January 2006 31 December 2015 Rollover and Revision 5 22 August 2008 31 December 2015 Review 6 20 September 2012 31 December 2015 Rollover 7 19 November 2015 31 December 2018 Consent and Moderation Requirements (CMR) reference 0113 This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do. Please note Providers must be granted consent to assess against standards (accredited) by NZQA, before they can report credits from assessment against unit standards or deliver courses of study leading to that assessment. Industry Training Organisations must be granted consent to assess against standards by NZQA before they can register credits from assessment against unit standards. Providers and Industry Training Organisations, which have been granted consent and which are assessing against unit standards must engage with the moderation system that applies to those standards. Requirements for consent to assess and an outline of the moderation system that applies to this standard are outlined in the Consent and Moderation Requirements (CMR). The CMR also includes useful information about special requirements for organisations wishing to develop education and training programmes, such as minimum qualifications for tutors and assessors, and special resource requirements. NZQA National Qualifications Services SSB Code 130301 New Zealand Qualifications Authority 2016