Starting Your Own Business

Course Overview

With practical, straightforward advice, based on tried-and-tested ways of building successful businesses, this course will mean you're ready for anything. You'll find out how to develop your idea, present your business plan professionally, and sort out your financial planning.

Pre-requisites

The great news is that you don't need any previous experience to take this course.

Qualification

ICS Starting Your Own Business Diploma

Support

As an ICS student you will have your very own personal tutor helping you with your course work and with any questions you may have. Plus you can contact our Student Advisors by email or phone for all the practical advice you may need – so we really are with you 100%.

What's more, you'll have access to the ICS online Student Community, where you can interact with other students, browse our resource library and manage your account.

Key Topics

• Setting Up Your Own Business

Learn what makes a successful entrepreneur and what makes a successful business idea. Consider what external advisors you may need for your business. Explore the different legal structures that a British business may have and decide which is best for you. Examine business names.

• Money and Credit Control

Explore the differences between banks and the different services they can offer you. Learn the basics of bookkeeping and business accounts. Examine taxation and the expenses that can be set against taxable profits. Discover how to minimise the possibilities for misunderstandings on your invoices and how to chase debts.

• Marketing

Explore market research, branding and pricing. Examine different opportunities for advertising and learn how to write an effective press release. Study websites, email newsletters and directly mail campaigns. 

• Being an Employer

Study the different ways of taking on people to work for you. Learn how to choose the people that best meet your needs. Examine the various legal requirements relating to employment as well as payment options and tax implications.

• Places and Equipment

Consider the pros and cons of running a business from home. Examine the various considerations in selecting business premises. Explore office furniture and equipment.

• The Online Business

Examine the processes involved in the creation of an effective website for your business. Explore the different options for accepting credit and debit card payments on the web.

• Insurance and Protection

Explore the different types of insurance available to businesses. Examine the Data Protection Act. Learn how to protect your ideas, designs, trademarks, trade names and domain names.

• Planning Your Business

Consider the importance of a business plan and learn how to produce a plan for your business.

• Common Mistakes – and How to Avoid Them

Explore mistakes commonly made by new businesses and learn how to avoid them.

Course Code

N38

Outline

You’ll complete seven assessments during your course and a final assessment on completion of your course. These assessments can be submitted to ICS online via the Student Community, or they can be posted to ICS. It is recommended that you submit your assessments online as you will receive your results more quickly this way – in fact, for multiple choice assessments, you receive your results instantly!

Assessment Breakdown

• Assessment 1: 18 multiple choice questions
• Assessment 2: 14 multiple choice questions
• Assessment 3: 11 multiple choice questions
• Assessment 4: 6 multiple choice questions
• Assessment 5: 1 activity requiring you to prepare a plan for your business enterprise

Notes

Each multiple choice question comes with four potential answers. Only one of these answers is correct; the other three are wrong. You must identify the correct answer.