Micro-Enterprise Project

Objective: To gain an overview of how a business operates and the market within which it operates through the setting up and conducting of a micro-business activity.

Procedure: The following are a checklist of activities through which each group must work through to successfully conduct their businesses.

• Write up a proposal for what kind of business you would like to operate, and include information about what resources you will require to run it.
• Get permission to conduct the business from Mr Hanna and/or Mr Bonner. Inform them of the date(s) that you intend to conduct your business.
  
• Get permission to use any equipment that is required.
• Design a market survey to gauge interest from your potential market.
• Conduct your market survey.
• Collate/Compile your market survey results. Interpret them in order to understand the level of demand for your product or service. Adjust your business plan if necessary.
• Devise a budget. Find out what your input costs will be, and how much you will need to sell to reach your break-even point.
• Organise to loan equipment (if necessary).
• Tally up income and donate profits to charity. :)
• Devise a profit & loss statement.
• Write up a report detailing your findings and submit.

Report:

• Explain why your group initially chose your business activity.
• With reference to your market surveys, discuss your anticipated levels of demand. What other kinds of information did you discover from your surveys.
  
• Explain the operation of your business.
  
• How was what you expected about sales different from how sales turned out in reality.
  
• What did you learn about operating a business from this process?
• Did you learn any generic lessons about supply and demand, or about marketing through this process?
• If you were to run a micro-business again, what would you do differently? Why?
  

Final Submission:

1. Business proposal.
2. Profit & loss statement.
3. Any advertising (or details thereof) that you did.
4. An example of your survey sheets.
5. Your collated survey data.
   
6. Report.

Assessment Criteria:
Resources level 4

• Understands that people can make decisions about efficient use of resources.
• Understand that people make decisions in order to be efficient and enterprising in their use of resources.
• Understands that people act in various ways to make workplaces more effective.

Resources level 5

• Understands that people's ability to make efficient use of resources is affected by their access to, and ownership of, various resources.
• Understands that people's ability to manage resources in enterprising ways is affected by their access to, and ownership of, various resources.
• Understands that the structure of workplaces influences the extent to which people can improve their effectiveness.

Resources level 6

• Understands that the extent to which people are able to meet their needs and wants is influenced by their level of access to, and ownership of, resources.
• Understands that the quality of management decisions impacts on people's ability to satisfy their needs and wants.
• Understands that a variety of circumstances affect the opportunities for, and ability of, people to participate effectively in workplaces.