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: 

Research the viability of new venture ideas/opportunities 
SAQA US ID UNIT STANDARD TITLE
114596  Research the viability of new venture ideas/opportunities 
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 
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
2024-06-30   2027-06-30  

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 aimed at learners who wish to identify and screen new ideas and/or opportunities with the intention of establishing and/or participating in a new venture.

The qualifying learner is capable of finding information about different industry sectors; explaining the purpose of potential new ventures; identifying characteristics of successful ventures and evaluating new venture opportunities.

The qualifying learner will be able to:
  • Identify and assess own business ideas/opportunities for a new venture.
  • Analyse the viability of a selected idea/opportunity against specific screening variables.
  • Research the potential of a particular idea/opportunity as a new venture.
  • Analyse a range of risks associated with a new venture.
  • Evaluate new venture ideas/opportunities based on research findings. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners accessing this qualification will have demonstrated competence in Computer Literacy, Mathematical Literacy and Communications at NQF level 3 or equivalent. 

    UNIT STANDARD RANGE 
  • Risks include demand, competition, capability to produce/service at an economic and marketable price, level of capital require.
  • Failure factors include capital management, credit management, technical ability, market access and size, marketing/selling skills, management capability, business growth, personal life conflict.
  • Evaluation refers to the size and type of market segment, product range, sources of supply, physical facilities, essential services, financial resources, return on investment, staffing needs, technology requirements, legal/regulatory compliance, growth potential. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Identify and assess own business ideas/opportunities for a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    An own business is discussed in terms of its advantages and disadvantages for the owner, the labour market and the business sector. 

    ASSESSMENT CRITERION 2 
    Sources and methods of access to general and commercial business information are identified for proposed business venture. 

    ASSESSMENT CRITERION 3 
    Reasons for selecting or rejecting a particular new venture idea/opportunity are explained with examples. 

    ASSESSMENT CRITERION 4 
    Essential features of the new venture are identified in terms of market share, sales volume, asset value, and extent of independence from outside control. 

    SPECIFIC OUTCOME 2 
    Analyse the viability of a selected idea/opportunity against specific screening variables. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The aptitude, interests and values of the potential owner are screened for suitability to the new venture. 

    ASSESSMENT CRITERION 2 
    The market conditions are assessed to determine the viability of the new venture. 

    ASSESSMENT CRITERION 3 
    An assessment is made of the competition the new venture is up against. 

    ASSESSMENT CRITERION 4 
    The access to relevant technology and other resources needed for the new venture is analysed to aid a decision on the viability of the new venture. 

    SPECIFIC OUTCOME 3 
    Research the potential of a particular idea/opportunity as a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A personal profile of an entrepreneur is matched to the type of work, product or service that has potential as a new venture to ensure compatibility. 

    ASSESSMENT CRITERION 2 
    Training needs to ensure success of the new venture are identified for all persons involved in the venture. 

    ASSESSMENT CRITERION 3 
    Market research is conducted including analysis of demand for the product/service and competitor analysis. 

    ASSESSMENT CRITERION 4 
    The most suitable location of the new venture is investigated to aid a decision on the location of the new venture. 

    ASSESSMENT CRITERION 5 
    Constraints on trade and applicable by-laws are investigated to ensure that there are no legal obstacles to the establishment of the new venture. 

    SPECIFIC OUTCOME 4 
    Analyse a range of risks associated with a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of risk management is explained with examples. 

    ASSESSMENT CRITERION 2 
    The potential risks and factors that may threaten the new venture are identified and analysed with a view to eliminating and/or minimising them. 

    ASSESSMENT CRITERION 3 
    The risks associated with being an employer are explained. 

    ASSESSMENT CRITERION 4 
    The possible measures to reduce risk are explained with examples from a real or simulated new venture. 

    ASSESSMENT CRITERION 5 
    The insurance and security needs associated to risks in the new venture are investigated. 

    SPECIFIC OUTCOME 5 
    Evaluate new venture ideas/opportunities based on research findings. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Criteria are established for evaluating the success of a new venture. 

    ASSESSMENT CRITERION 2 
    A preliminary evaluation of the proposed new venture is produced in the form of a written report, using the identified criteria. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • This Unit Standard will be assessed by an assessor and moderated by a moderator, registered with the relevant accredited ETQA responsible for the quality assurance of this Unit Standard.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the appropriate quality assuring ETQA, or Learning Programme approval with an ETQA that has a Memorandum of Understanding with the quality assuring ETQA.
  • Verification (external moderation) of assessment and moderation by the provider, will be conducted by the relevant quality assuring ETQA according to the moderation guidelines in the relevant Qualification and the agreed ETQA policy and procedures.
  • An individual wishing to be assessed through RPL against this Unit Standard, may apply to an assessment agency or provider institution accredited by the relevant quality assuring ETQA, or by an ETQA that has a formal agreement/accreditation with the relevant quality assuring ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Methods and techniques for assessing and analysing information associated with new venture opportunities.
  • How to evaluate new venture opportunities.
  • The types of new ventures and opportunities.
  • The Labour Market study
  • Researching the industry and the broad market
  • Consumer, competitors and supplier research
  • Interpreting research findings
  • Identifying your target market
  • Estimating the size of the market
  • Conducting own research
  • Risk management, insurance and security 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems and make decisions which arise during the process of assessing, analysing and evaluating new venture opportunities. 

    UNIT STANDARD CCFO ORGANISING 
    Organise oneself and one's activities by using structured methods in investigating and assessing new venture opportunities. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information which will assist in the investigation and assessment of new venture opportunities. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems by explaining the potential impact of proposed new venture decisions. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Develop entrepreneurial opportunities. 

    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  58143   National Certificate: Music Industry Practice  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered" 
    2023-06-30  CATHSSETA 
    Elective  65051   Further Education and Training Certificate: Arts and Culture Development Support  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2023-06-30  CATHSSETA 
    Elective  79626   Further Education and Training Certificate: Commercial Property and Facilities Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2023-06-30  SERVICES 
    Elective  58761   Further Education and Training Certificate: Early Childhood Development  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2023-06-30  ETDP SETA 
    Elective  65029   Further Education and Training Certificate: Music  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2023-06-30  CATHSSETA 
    Elective  59097   Further Education and Training Certificate: Real Estate  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2023-06-30  SERVICES 
    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  49087   National Diploma: Orientation and Mobility Practice for Blind and Partially Sighted Persons  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered" 
    2009-07-29  Was ETDP SETA until Last Date for Achievement 
    Elective  73129   National Diploma: Public Relations Practice  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered" 
    2023-06-30  SERVICES 


    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.
     
    1. 3 At Work Recruitment Agency 
    2. Accreditation & Training Services 
    3. Amogelang Marketing and Training 
    4. Asakhe Education Network 
    5. ATTI (Advanced Technonogy Training Institute) 
    6. Aubrey Nyiko Business Enterprise cc 
    7. B T Group of Companies Pty Ltd 
    8. Big Fish 
    9. BLC Entertainment 
    10. Boitjhorisong Resource Centre 
    11. BOLAND COLLEGE 
    12. Brain Boosters Business Education (PTY) LTD 
    13. Brainwave Projects 1997 CC 
    14. Cedars Academy for Technical 
    15. Centre for Creative Education/Iziko La Bantu Be Afrika NPC 
    16. Changing Lives Community Development Training 
    17. College of Cape Town - Athlone Campus 
    18. Compass Academy of Learning 
    19. Custoda Trust 
    20. D M Management and Consulting 
    21. Damelin Correspondence College (Pty) Ltd 
    22. Dee s Training PTY LTD 
    23. DEVELO CC 
    24. Dintshang Trading 
    25. Directflo 
    26. Dru A Professional Further Education and Training College DAPFETC PT 
    27. Early Inspiration 
    28. Early Learning Resource Unit (ELRU) 
    29. EASTCAPE MIDLANDS COLLEGE BUSINESS UNIT (Uitenhage) (WA) 
    30. EBENEZER TRAINING HOUSE FOR EARLY LEARNING 
    31. Edu Experts SA 
    32. EDU-Bless College 
    33. Edu-Build Institute 
    34. Edu-Prof Training Centre 
    35. EDUTAK PRE-SCHOOL TRAINING AND DEVELOPMENT 
    36. Empirical Training Agency (PTY) Ltd 
    37. Enjo Consultants (Pty) Ltd 
    38. Environment and Language Education Trust 
    39. Epitome Villa (Pty)Ltd 
    40. EYETHU NATIONAL COMPUTER COLLEGE PTY LTD 
    41. FALSE BAY TECHNICAL VOCATIONAL EDUCATION & TRAINING COLLEGE 
    42. FILM Mentorship & Training SA 
    43. FLAVIUS MAREKA FET COLLEGE 
    44. Footprint Media academy Pty ltd 
    45. Frayintermedia Cc 
    46. FURNITURE WORLD TRAINING CENTRE 
    47. Future Performance Training and Development 
    48. Future-Teacher (Pty) Ltd 
    49. Gauteng Baobab Early Learning Training Programme 
    50. Goldfields TVET College 
    51. Grassroots Adult Education and Training Trust 
    52. GWALA TRAINING SERVICES 
    53. Heirs Training and Development 
    54. HOPE ACADEMIC AND SKILL CENTRE 
    55. HUGENOTE COLLEGE 
    56. ICM t/a Institute for Career Management 
    57. Igugu Training and Investments 
    58. Ikamva Projects Pty Ltd 
    59. Ikusasa Lothisha t/a ECD Training Provider 
    60. Institute of Professional Studies and Services 
    61. Isamon Vocational College of Excellence Pty Ltd 
    62. Isibani Skills Academy 
    63. Isibani Soluntu Development Trust 
    64. IT Labs Consulting 
    65. Itireleng Bokamoso Trading Development Services and Associates 
    66. Jabulani Training & Development 
    67. Katehong Early Learning Resourse Unit (KELRU ) 
    68. Keletsong Community Training & Resource Centre 
    69. Kgang-Kgolo Consulting 
    70. KHANIMAMBA TRAINING AND RESOURCE CENTRE 
    71. Khoali Group of Companies (Pty) Ltd 
    72. Khululeka Community Education Centre 
    73. Kids Academy 
    74. Kitso Bokamoso Training Solution 
    75. KITSO TRAINING AND DEVELOPMENT 
    76. Klein Karoo Resource Centre 
    77. KWAZULU NATAL EXPERIMENTAL COLLEGE 
    78. Leronsa Trading Enterprise 
    79. LESEDI EDUCARE ASSOCIATION 
    80. Level 5 Skills 
    81. Li Lichule Trading cc 
    82. Loago Business Consulting 
    83. Lynne Hobbs cc 
    84. MASIKHULE EARLY CHILDHOOD DEVELOPMENT CENTRE 
    85. Mass Computer Training and Printers 
    86. MATHS CENTRE INCORPORATING SCIENCES 
    87. MBOWA COLLEGE PTY LTD 
    88. Media Village Training 
    89. MENTORNET (PTY) LTD 
    90. MILZET CONSULTING SERVICES CC 
    91. Mnambithi FET College - Central Office 
    92. Mochochonono Training Solutions cc 
    93. Mokete Training and Consulting Services 
    94. Motheo Training Institute Trust 
    95. NATAL EARLY LEARNING RESOURCE UNIT TRUST 
    96. Ndoma Mathodi Trading Enterprise 
    97. Netgrow Training Solutions 
    98. Networx for Career Development 
    99. New Beginnings Training and Development Organisation 
    100. Next Step Academy (Pty) Ltd 
    101. Noni Community Development 
    102. Northern Cape Urban College: Kimberley Campus 
    103. Northlink College 
    104. Northshore Trading 19CC t/a Makakhaunye Training and Development Agency 
    105. NTATAISE TRUST 
    106. Ntevho-Ketso Training and Recruitement Consultancy cc 
    107. Ntsangalala Business Enterprise 
    108. Nyelati Trading Enterprise 
    109. OL Afrika Media 
    110. OPELONG BUSINESS INSTITUTE (PT 
    111. Orbit FET College - Central Office 
    112. Peddie Development Centre 
    113. Peo Entle HIV Wellness Management and Youth Skills Development NPO 
    114. People Upliftments t/a POPUP Upliftment 
    115. Petra institute of Development (PTY) Ltd 
    116. PHALANE SAFETY CONSULTANT AND TRAINING PROVIDERS PTY LTD 
    117. PMA Holding (Pty) Ltd 
    118. PND Academy of Learning cc 
    119. Pro-Ed Training 
    120. PROFESSIONAL CHILD CARE COLLEGE PTY LTD 
    121. Professional Development and Training Institute (Pty) Ltd 
    122. PRX SCHOOL TEST 
    123. Rampadise Education Training & Development Centre 
    124. Read Educational Trust 
    125. Realeboga Development Services 
    126. REGIONAL EDUCARE COUNCIL 
    127. Retshetse Training Project 
    128. Rhodes University 
    129. Richfield Graduate Institute of Technology Pty Ltd 
    130. Right 4 u College 
    131. Safe and Sound Learning Association 
    132. SANTS College 
    133. Sbongukhanyo 
    134. Sisazi Consulting 
    135. SITHUTHUKILE TRUST 
    136. Sivile Housing Association RSA 
    137. Siyahluma Education Institute 
    138. South African Congress For Early Childhood Development 
    139. SOUTH AFRICAN CORPORATE TRAINI 
    140. South African Guide-Dogs Association for the Blind 
    141. South Cape Public FET College - George Campus 
    142. Southern African Youth Movement 
    143. Spotru Training Centre 
    144. SPS Consulting (Pty) Ltd 
    145. Sunshine Community Outreach Ministry of Youth With A Mission 
    146. Sustainability Institute Trust 
    147. T Mabuya & Associates (Pty) Ltd 
    148. Takatso Educare Training and Development Services 
    149. Teachers Learning Centre (Pty) Ltd 
    150. Tekollo Trading (Pty) Ltd 
    151. Tembe Service Providers 
    152. Tendazwau Trading 8 (PTY) LTD 
    153. Thabelanang t/a Thabelanang Trading Enterprise 
    154. The Iscariota Group (Pty) Ltd 
    155. THE MATTHEW GONIWE SCHOOL OF LEADERSHIP AND GOVERNANCE 
    156. The Port Elizabeth Early Learning Centre 
    157. Thembekile training consulting 
    158. THUKAKGALADI INTEGRATED DEVELOPMENT PROJECT 
    159. THUSANANG TRUST 
    160. Thuto-Botshabelo Training and Projects (Pty) Ltd 
    161. Tiakeni Training Centre 
    162. Training and Resources in Early Education (TREE) 
    163. TSHEPANG EDUCARE TRUST 
    164. TSHIROLOGO DISABILITY TRAINING SERVICES PTY TLD 
    165. Ukwakhile Training 
    166. Ulwazi Training & Development 
    167. Umgungundlovu FET College 
    168. UNIVERSAL COLLEGE OUTCOMES SA 
    169. Vuselela TVET College 
    170. VUTHLARI MARKETING CONSULTING 
    171. Water berg FET College 
    172. Waterberg TVET College 
    173. WEST COAST COLLEGE FET 
    174. WESTERN COLLEGE FOR FURTHER EDUCATION AND TRAINING 
    175. Winston Academy 
    176. World Wide Education Providers(Pty)Ltd 
    177. Woz'obona Early Childhood Community Service Group 
    178. Yellow Media Learning Institute (Pty) Ltd 
    179. Youth Media Movement 
    180. 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.