Pre-requisite: 51002+51004/51003
This unit is designed to enable students to gain practical insights into the unique managerial needs of the small business sector and its importance to the Australian economy. An understanding of the practices of existing businesses will be required, with case studies considered and a major project involving students in a detailed feasibility study for a possible new venture. With 800,000 small business accounting for half of employment in the private sector, most of the growth in employment and exports, and yet the majority of new enterprises failing within three years of commencement, the unit has a practical orientation which is relevant to professionals, intending entrepreneurs and those presently involved in small business management. The unit provides an overview of the Australian small business sector, then moves on to the processes necessary in effective commencement and operation of a small business.