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Entrepreneurship and New Business
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The BSB40320 Certificate IV in Entrepreneurship and New Business is the ideal nationally recognised qualification for taking your business ideas to the next level! Whether you have a small business or starting out with a great concept, having the knowledge and skills will help you understand what you need to start and grow a business! This course will help you research and develop business plans, plan and manage finances, and coordinate business resources.
By studying this course, you will learn practical skills to grow your business, including marketing new business ventures, implementing customer service strategies, creating business relationships, and communicating effectively as a workplace leader.
Where Can the BSB40320 Certificate IV in Entrepreneurship and New Business Take Your Career?
The Cert IV Entrepreneurship and New Business will give you the know-how to begin your new business, and is perfect for anyone wishing to engage in job roles such as:
- Small Business Manager (Franchise)
- Consultancy Small Business Manager
- Small Business Manager
- Owner Operator
- Small Business Manager (Processed Food)
Looking at Australia’s general manager jobs outlook will give you a glimpse of the jobs you can take on—possible tasks, salary information, skill level required, and industry growth forecast. Click on the links to explore where the Certificate IV in Entrepreneurship and New Business can take you.
Inspire works with a range of reputable parties to market and recruit for national qualification and courses. Students of Inspire Education may be recruited by other parties under specific arrangements.
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If so, let us know! We want to help you ‘Find your Spark’ – so talk to us, and we’ll do our best to match their price!
Ask us now! Call 1800 506 509 for more information.
Terms and conditions apply.
|BSB40320||Certificate IV in Entrepreneurship and New Business|
Expected Study Hours:
|Up to 12 Months||Up to 600 hours, depending on your experience|
|Mixed Mode (Workplace Required)||Start any time for Online Self-Paced (Mixed Mode)!|
Study at Your Own Pace or Choose from a Range of Flexible Study Options
Enrol in the Best Courses, for Some of the Lowest Fees in Australia
Enjoy the Best Possible Training and Support from Passionate Trainers
Course Delivery Options & Duration
Inspire Education (RTO# 32067) delivers the BSB40320 Cert IV in Entrepreneurship and New Business online, and through Mixed Mode Delivery (with workplace assessments required). This means students complete their course at their own pace, using Inspire’s online student portal. Delivery includes face-to-face webinars, self-paced study, directed research, and online learning and assessment materials and activities.
Online study is ideal if you want to learn according to your own schedule, and gain your qualification as fast as you can. You can study at your own pace with full trainer support throughout your studies. Your course materials are accessed online, so you are free to work on your course in your own time, from anywhere in Australia.
This online Cert IV Entrepreneurship course can be studied from anywhere in Australia, including Sydney, Melbourne, Brisbane, Adelaide, and Perth – as well as other cities, remote communities, or anywhere with internet access.
Being online, this BSB40320 course has a rolling intake throughout the year. This means you can enrol and start your course straight away, or on your preferred start date.
Please read our policies and procedures in the Inspire student handbook before enrolling by clicking here.
You will have up to 12 months starting from your commencement date to complete the Self-Paced Online course. Students can enrol anytime during the year under this delivery method.
What Will You Learn in the New Business Course?
The BSB40320 Certificate IV in Entrepreneurship and New Business course is the ideal qualification for taking your new business to the next level! Whether you have small business or starting out with a great concept, having the knowledge and skills will help you understand what you need to start and grow a business! This course will help you research and develop business plans, present business proposals, plan and manage finances, and coordinate business resources.
By studying this course, you will learn practical skills to grow your business, including marketing new business ventures, implementing customer service strategies, and communicating effectively as a workplace leader.
There are no prerequisites required to enter the Cert IV in Entrepreneurship and New Business (BSB40320). However, it is preferred that students:
- Are 18 years or older
- Have sound language, literacy, and numeracy skills (at least Year 10 English, or equivalent)
Students are required to:
- Obtain a Unique Student Identifier (USI)
- Provide a valid ID with his/her picture and signature
- Undertake a Language, Literacy and Numeracy Evaluation
- Undertake a Personal Learning Plan, with Cohort explanation and learning pathway
All students considering a self-paced online course should give consideration to the following prior to enrolment:
- Ability to access any required technologies
- Information technology skills in accessing and using online programs
- Experience and self-motivation to learn on their own
- Competing pressures, such as work and family commitments, that may impact self-paced study time
Once enrolled, you may also consider additional training to complement your entrepreneurial and business skills, with courses such as:
- BSB40120 Certificate IV in Business (Operations or Administration)
- BSB40820 Certificate IV in Marketing and Communication
- BSB40520 Certificate IV in Leadership and Management
The BSB40320 Certificate IV in Entrepreneurship and New Business is comprised of a total of 10 units – 4 core units and 6 elective units, which have been carefully selected to ensure they meet the needs of a wide range of business entrepreneurs.
BSBESB401 – Research and develop business plans
BSBESB402 – Establish legal and risk management requirements of new business ventures
BSBESB403 – Plan finances for new business ventures
BSBESB404 – Market new business ventures
BSBESB407 – Manage finances for new business ventures
BSBESB406 – Establish operational strategies and procedures for new business ventures
BSBOPS404 – Implement customer service strategies
BSBLDR412 – Communicate effectively as a workplace leader
BSBINS401 – Analyse and present research information
BSBOPS401 – Coordinate business resources
The BSB40320 Certificate IV in Entrepreneurship and New Business supersedes and is equivalent to the BSB42618 Certificate IV in New Small Business. For more information, please visit our BSB 7.0 Update FAQ page.
Resources Provided by Inspire
To support you in your studies Inspire will provide:
- Access to a student account in the Learning Management System (LMS) for submission
- Learning Materials and Assessment Workbooks
- Simulations, where applicable
- Templates for completing Project Documents
- Access to MYOB Student (for Windows users only)
Resources Supplied by the Student
To complete your studies you will need to have access to:
- Computer with:
- Internet access through Google Chrome
- MS Word, MS PowerPoint, or equivalent applications
- Adobe Acrobat Reader
- Printer and scanner
- Headset for webinar participation (optional)
- Video-recording equipment (e.g. mobile phone or video recorder)
Course Outline & Structure
Expected Study Hours
There are a total of up to 600 expected study hours for this course, depending on your existing skills and knowledge. To assess your knowledge, you will be asked to complete a Personal Learning Plan Evaluation after you enrol. Upon completion, you will be provided with a training plan that identifies your cohort, taking into account your existing level of knowledge and skill in this vocational area.
The amount of training and support required for each learner will vary on these 4 cohorts:
- Beginner Cohort (Full Study Model) – includes learners who are interested in establishing a small business without any previously completed formal qualifications; learners who may be unemployed or looking for a career change; study hours is up to 600 hours
- Intermediate Cohort (Partial Study Model) – includes learners who are interested in establishing a small business without any previously completed formal qualifications, but may have some minor work experience related to entrepreneurship, business, or management for less than a year; learners who are currently employed and seeking career advancement; learners who have completed the BSB42515 or BSB42518 Certificate IV in Small Business Management; study hours is up to 489 hours
- Advanced Cohort (Partial Recognition Pathway) – includes learners who have worked previously as managers, coordinators, team leaders, supervisors, advisors, and consultants for a small business but does not have any recent industry experience; learners who may be working in a leadership role in a small business without any formal qualifications for at least a year; learners who have extensive experience in managing a small business for two years or more who are seeking to take their business to the next level; learners who have previously completed the BSB42618 Certificate IV in New Small Business, but do not have recent industry experience; study hours is up to 349 hours
- Expert Cohort (Assessment only) – includes learners who recently established their own small business, provide leadership and guidance to others, and have the responsibility for the output of others or any similar roles for the last 3 years; learners who have completed the BSB42618 Certificate IV in New Small Business and have been actively working in the industry for a year; study hours is up to 221 hours
Students must have access to a workplace where they can complete their assessments. This will include access to:
- A workplace supervisor
- Office equipment and resources
- Cloud storage (Dropbox, Google Drive, SharePoint, or similar)
- Active email address
- Any application that takes screenshots (e.g. Screenpresso, SnagIt, etc.)
- Online meeting application (e.g. Google Meet, Slack, Zoom, Skype, etc.)
- Current industrial relations protocols, legislation and code of ethics
- Digital technology systems for monitoring and analysing financial data
- Organisational policies and procedures for:
- Customer service
- Continuous improvement
- Digital communication
- Style guides
- Performance management
- Employee grievances
- Diversity and inclusion
- Setting profit targets, costing, margin or markup, charge-out rates and unit costs
- Preparing financial documents
- Organisational information, including:
- Organisation strategies and methods for budgeting and pricing
- Market conditions
- Financial performance, requirements, and strategies
- Business plan and goals
- Marketing strategy
- Operational strategy
- Client briefs and feedback forms
- Client feedback or complaints documents
- Staff handbook
- Legislation, acts, laws and regulations related to operating a business
- List of workplace roles/responsibilities
- Reports and records
- Templates or forms
- Communication plan
- Communication review
- Business profile
- Procurement report
- Risk register
- Risk treatment plan
- Financial plan
- Marketing plan and reports
- Continuous improvement and action plan
- At least one (1) individual relevant to the resolution of issues raised
- At least two (2) individuals to communicate to and seek feedback from
- At least two (2) teams to communicate to and seek feedback from
- At least one (1) individual involved in procurement
- At least four (4) stakeholders involved in financial procedures
- At least four (4) stakeholders involved in marketing procedures
- Relevant stakeholders for legal advice and implementation of Risk Treatment Plan
- At least four (4) volunteers for roleplay activities
- Opportunities to:
- Communicate using verbal and written communication in at least two (2) occasions each
- Identify preliminary information for a business venture
- Plan and develop finances and communicate financial procedures
- Develop, implement and monitor marketing plan
Important Note: Some workplaces require additional training, checks and/or immunisations. The state and territory governments have made public health orders requiring certain workers to be vaccinated against COVID-19 in their state or territory. Please visit our FAQ page to learn how the COVID-19 pandemic impacts assessments and training in the workplace.
Assessment is conducted using a combination of Questioning (e.g. written questions/questionnaires, knowledge assessment, self-reflection, self-evaluation) and Product-based Methods* (e.g. projects, practical assessment, case study, and structured tasks).
*Dual pathways – students have the option to undertake assessments for certain subjects in the workplace or using the simulation environment
Recognition Of Prior Learning (RPL)
The RPL pathway is available to any learner who can provide evidence of competency for the units offered within the qualification. See the RPL Guide for more information on this process and how to apply.
Once you’ve gained the Cert IV in Entrepreneurship and New Business, you are now qualified for a career in the field of business. Career information provided by My Skills says that individuals who complete the Certificate IV are most often employed as:
- Professionals (28.3%)
- Technicians and Trades Workers (19.6%)
- Community and Personal Service Workers (15.5%)
Business News and Related Articles
*Payment plans and options are available for selected courses only. Course timetables are only for courses that offer the blended delivery option.