A small business can be a rewarding venture but only if you are equipped with the skills and knowledge to make your venture a success. The BSB40407 Certificate IV in Small Business Management is a nationally recognised qualification and provides a solid foundation for managing a small business.
You'll learn about the legal and risk management requirements of small businesses, about legislation codes and regulatory requirements and how to develop a financial plan.You’ll also learn the basics of developing marketing and customer service strategies and how to monitor your business performance.
You’ll receive comprehensive support from your trainer and assessor, and gain access to OpenSpace, Open Colleges' virtual campus, offering you a range of learning materials and study tools to assist you in your studies. If you've always wanted to start your own small business, the first step is getting the background knowledge and the BSB40407 Certificate IV in Small Business Management is a terrific starting point.
- Small business manager
- Small business owner
Language, Literacy and Numeracy
Our free online assessment tool can help give you an idea of the language, literacy and numeracy skills needed to study a VET course. This tool can also help you determine your learning level and help you plan your future studies. You can access the Language, Literacy and Numeracy tool here.
- Course number
- Course duration
- Max 24 months
- Qualification Level
- Certificate IV
- Delivery mode
- Nationally recognised
- Case Studies, Portfolio, Projects, Short-Answer Questions
- National Code
- Awarded By
- Open Colleges
Study Period 1: Legal and Risk Management
BSBSMB401A Establish legal and risk management requirements of small business
- Identify and implement business legal documents
- Comply with legislation codes and regulatory requirements
- Negotiate and arrange contracts
Study Period 2: Customer Service
BSBCUS401B Coordinate implementation of customer service strategies
- Advise on customer service needs
- Support implementation of customer service strategies
- Evaluate and report on customer service
Study Period 3: Small Business Finance
BSBSMB402A Plan small business finance
- Identify costs, calculate prices and prepare profit statement
- Develop a financial plan
- Acquire finance
BSBFIA402A Report on financial activity
- Compile financial information and data
- Prepare statutory requirement reports
- Provide financial business recommendations
Study period 4: Marketing and Planning
BSBSMB403A Market the small business
- Develop marketing strategies
- Determine a marketing mix for the business
- Implement marketing strategies
- Monitor and improve marketing performance
BSBSMB404A Small business planning
- Identify elements of the business plan
- Develop a business plan
- Develop strategies for minimising risks
Study Period 5: Business Operations
BSBSMB405A Monitor and manage small business operations
- Develop operational strategies and procedures
- Implement operational strategies and procedures
- Monitor business performance
- Maintain networks
- Review business operations
BSBPMG510A Manage projects
- Define project
- Develop project plan
- Administer and monitor project
- Finalise project
- Review project
Study Period 6: Customers and Networks
BSBCUS402B Address customer needs
- Assist customers to articulate needs
- Satisfy customers' complex needs
- Manage networks to ensure customer needs are addressed
BSBREL401A Establish Networks
- Develop and maintain business networks
- Establish and maintain business relationships
- Promote the relationship
- Study Period 1: Legal and Risk Management
Education entry requirements
There are no formal education entry requirements for this qualification.
Minimum age requirements
You will need to be at least 18 years old.
English language requirements
This course requires you to read comprehensive learner workbooks and textbooks, undertake a range of written assessments, undertake independent research activities and engage in online forums and discussions. Furthermore, the delivery mode relies on the extensive use of written communication. As such, entry to the course requires the successful completion of English to Year 12 level.
If you have not successfully completed English at Year 12 level, you can demonstrate equivalency in one of the following:
- successful completion of a Nationally Recognised Training qualification at Certificate III level or higher; OR
- 3 years’ relevant industry experience in a role that requires the use of written documentation and communication.
Open Colleges recognises that not all people are able to read, write and perform calculations to the same standard. To help give you an idea of the language, literacy and numeracy skills required to study this course, you can undertake the online Language, Literacy and Numeracy tool available at the link above.
Hardware and software requirements:
- Microsoft Office 2010 or equivalent
- broadband internet connection
- 2GB of RAM
- CD-ROM or DVD drive
- Adobe Reader XI or equivalent
- printer and associated software
- scanner and associated software
- digital imaging software
- file compression software.
- Microsoft Windows 7 or higher (Windows 8 recommended)
- 1 Ghz or faster processer (2GHz recommended
- Adobe Flash Player 10 or higher.
Mac OS users:
- Mac OSX v10.5 or higher (Mac OSX v10.6 recommended)
- 1 Ghz or faster processer (2GHz recommended)
- Adobe Flash Player 10 or higher.
You will need access to software to view online videos and images. Software such as Adobe Reader, Windows Media Player, Windows Photo Viewer etc are available as a download from the internet.
To successfully complete this course, you will require basic computing skills. This includes:
- creating, saving and editing Microsoft Office documents
- accessing and searching the internet
- downloading and saving documents from websites
- uploading documents through websites
- participating in online discussions
- compressing image files.
Access to a workplace would be an advantage in this course. This might include a workplace where you are employed full-time, part-time or on a voluntary basis. This will enable you to apply the theory and concepts covered in this course and develop and refine your practical skills in a real workplace environment. If you do not have access to a workplace, Open Colleges will provide you with simulated workplace documentation which could allow you to demonstrate the application of theory and development of skills.
Danny has a wealth of business experience, both within a sales and marketing environment and from running his own business. He has spent time working as a sales manager and has worked in international tourism; debt recovery; pay TV operations; and the personal development and education industries. Danny has a passion for sharing his knowledge and experience in business and management. His qualifications include a Certificate IV in Small Business Management and a Diploma of Business, Diploma of Management and Diploma of Business Administration.
Jason RobertsJason Roberts started his career in the hospitality industry as a chef and was named Australian International Apprentice of the Year. Jason has spent several years as restaurant manager, catering management and operations manager, and has been involved in business development and health and safety auditing for some of the world’s largest food manufacturers. Jason is an associate member of the Safety Institute of Australia and has been training and assessing in the fields of TAE, OHS/WHS and Frontline Management. His qualifications include a Diploma in Training and Assessment, Advanced Diploma of WHS, Diploma of Quality Auditing and Certificate IV in Frontline Management.
Jeremy has had an extensive 17 year career in the hospitality and security sectors, during this time Jeremy has held several seniors positions within both industries. He is a qualified chef, CLGCA accredited trainer of RSA and RCG courses and a NSW food authority approved food safety trainer. Within the security sector, Jeremy has worked throughout Australia and held a number of senior positions.
Currently, Jeremy is operating his own consultancy business, HSCServices, which specialises in HR, training and development, risk management, security and hospitality consultancy services. Jeremy is also a Justice of the Peace, licensed security consultant, security instructor and Investigator.
Masoud Tymouri, our business, human resources, management and occupational health and safety trainer, is highly experienced in training and assessing both local and international students.
The expertise that Masoud has developed during 18-plus years of practical experience is supported by a lengthy list of qualifications. He has successfully completed a Master's of Leadership & Management in Education, Postgraduate Certificate in Educational Studies, Bachelor's of Business, Advanced Diploma of Management, Advanced Diploma of Management (Human Resources), Diploma of Occupational Health & Safety and Certificate IV in Workplace Training & Assessment.
Masoud brings all his knowledge and experience to his training role at Open Colleges, and provides every support to his students throughout their learning experience.
With a deep commitment to the online learning environment, Megan Funston is the ideal trainer for this course.
Megan was living on a sheep station in the middle of nowhere when she first developed a passion for distance education, courtesy of her children's experiences with the Kalgoorlie School of the Air. She subsequently received her Bachelor of Arts (Education Studies) through Murdoch University.
A position as flexible learning coordinator with Curtin University of Technology was the start of a career that encompassed varied roles. These included e-learning, AQTF compliance, projects for remote Aboriginal communities and a memorable two years designing and delivering e-resources for the African Virtual University to students in Tanzania, Rwanda, Kenya and Ethiopia.
Most recently, Megan has delivered the Certificate IV in Training & Assessment to clients in mining and other industries, and the Diploma of Business to international students attending the Sarawak, Borneo campus of Curtin University.
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