SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Finance a new venture 
SAQA US ID UNIT STANDARD TITLE
114584  Finance a new venture 
ORIGINATOR
SGB Generic Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Generic Management 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular-Fundamental  Level 4  NQF Level 04  5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2026-06-30   2029-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit standard is intended for learners who need to make decisions and recommendations about financing options for a new venture.

The qualifying learner will be able to:
  • Determine the capital requirements of the new venture.
  • Identify and compare all short term and long term funding options and services offered by the finance industry for new ventures.
  • Compile personal income and expenditure and assets and liabilities statements.
  • Identify the requirements and processes to access the selected financing option for the new venture.
  • Identify alternative sources to secure finance for a new venture. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners accessing this qualification should be competent in Computer Literacy, mathematical Literacy and Communication at NQF Level 4 or equivalent. 

    UNIT STANDARD RANGE 
  • Funding requirements and capital structure include working, fixed, debt and equity capital.
  • Banking and financial institutions may include but are not limited to registered banks, merchant banks, and micro-finance institutions.
  • Alternative funding options. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Determine the capital requirements of the new venture. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Funding requirements and capital structure are identified and analysed for the new venture. 

    ASSESSMENT CRITERION 2 
    Realistic fixed asset requirements are determined for the new venture. 

    ASSESSMENT CRITERION 3 
    Pre-operating costs are identified and calculated to an exact value. 

    ASSESSMENT CRITERION 4 
    Monthly operating costs - including a cash flow statement - are compiled for the new venture. 

    ASSESSMENT CRITERION 5 
    The financial viability of the proposed new venture is assessed and estimation made of the break-even point. 

    SPECIFIC OUTCOME 2 
    Identify and compare funding options and services offered by the finance industry for new ventures. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    An extensive list of financial institutions offering funding for new ventures is compiled with a view to selecting the one best suited to the particular venture. 

    ASSESSMENT CRITERION 2 
    The various funding packages (products) appropriate for a new venture are investigated and compared in terms of own venture needs. 

    ASSESSMENT CRITERION 3 
    The cost of the various funding options is compared to determine suitability for own venture's business structure. 

    ASSESSMENT CRITERION 4 
    Short-term and long-term advantages and disadvantages of the various funding options are considered and discussed in context of own business and a decision made as to the most suitable. 

    SPECIFIC OUTCOME 3 
    Compile personal income and expenditure and assets and liabilities statements. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Personal income and expenditure statements are prepared for oneself based on own financial situation over the past year. 

    ASSESSMENT CRITERION 2 
    The situations when an assets and liabilities statement is required are listed and an indication is given of the advantages of keeping such records. 

    SPECIFIC OUTCOME 4 
    Identify the requirements and processes to obtain the selected financing option for the new venture. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Collateral requirements for accessing funding are identified to determine if they can be met. 

    ASSESSMENT CRITERION 2 
    The new venture proposals are assessed in terms of available collateral. 

    ASSESSMENT CRITERION 3 
    The information and back-up documentation needed to process application for funding is collected and used to complete the application. 

    ASSESSMENT CRITERION 4 
    A financing option is chosen that is consistent with the business plan in terms of profit objectives and return on capital. 

    ASSESSMENT CRITERION 5 
    Laws, regulations, rules and procedures covering the provision and use of financial services are observed to ensure compliance. 

    SPECIFIC OUTCOME 5 
    Identify alternative sources to secure finance for a new venture. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The difference between debt (loans) and equity (owner's capital) is explained with reference to the new venture. 

    ASSESSMENT CRITERION 2 
    Problems faced in obtaining finance for the new venture are identified with a view to overcoming them. 

    ASSESSMENT CRITERION 3 
    Alternative sources of equity are investigated for the new venture. 

    ASSESSMENT CRITERION 4 
    Government and non-governmental schemes for new venture creation are investigated and analysed and an explanation given of their advantages and disadvantages for the new venture. 

    ASSESSMENT CRITERION 5 
    The option of leasing as a method of reducing start-up capital is considered for own venture. 

    ASSESSMENT CRITERION 6 
    The repayments and interest rates of the alternative options are considered and compared to those of the financial institutions to make informed decisions. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or by an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Understand micro and macro economic principles and how the local and national economies work.
  • The range of financing options available.
  • The principles of interest and repayments.
  • Long-term debt and short-term finance. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation or community. 

    UNIT STANDARD CCFO ORGANISING 
    Organise oneself and one's activities by carefully considering the advantages and disadvantages of capital funding options for a new venture. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information in order to make informed financial decisions with clear understanding of the implications. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written presentation. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  66249   Further Education and Training Certificate: New Venture Creation  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  SERVICES 
    Core  23953   Further Education and Training Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2009-05-13  Was SERVICES until Last Date for Achievement 
    Core  20884   National Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2005-04-10   
    Elective  66349   Further Education and Training Certificate: General Forestry  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2015-06-30  FPMSETA 
    Elective  58394   National Certificate: Film and Television Production  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MICTS 
    Elective  65050   National Certificate: Music  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CATHSSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
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    17. VCK TRAINING AND TECHNICAL SERVICES PTY LTD 
    18. VEB CELE & ASSOCIATES PTY LTD 
    19. VPK BUSINESS VENTURE C C 
    20. VUTHLARI MARKETING CONSULTING 
    21. ZA WIT (PTY) LTD 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.