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: 

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
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  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  Reregistered  2023-06-30  CATHSSETA 
    Elective  65051   Further Education and Training Certificate: Arts and Culture Development Support  Level 4  NQF Level 04  Reregistered  2023-06-30  CATHSSETA 
    Elective  79626   Further Education and Training Certificate: Commercial Property and Facilities Management  Level 4  NQF Level 04  Reregistered  2023-06-30  SERVICES 
    Elective  58761   Further Education and Training Certificate: Early Childhood Development  Level 4  NQF Level 04  Reregistered  2023-06-30  ETDP SETA 
    Elective  65029   Further Education and Training Certificate: Music  Level 4  NQF Level 04  Reregistered  2023-06-30  CATHSSETA 
    Elective  59097   Further Education and Training Certificate: Real Estate  Level 4  NQF Level 04  Reregistered  2023-06-30  SERVICES 
    Elective  58394   National Certificate: Film and Television Production  Level 5  Level TBA: Pre-2009 was L5  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  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. Access Employment Skills & Development Agency 
    3. Adelaine Training Solutions Pty Ltd 
    4. Amogelang Marketing and Training 
    5. Assessment & RPL College (Pty) Ltd 
    6. Avax Training & Development 
    7. Bangwaketse Trading and Projects 
    8. Barcor Learn to Earn cc 
    9. Berry Rose Project Consultants & Service Providers 
    10. Big Fish School of Digital Filmmaking (Pty) Ltd 
    11. Boikgantsho Consulting & Events cc 
    12. Boitjhorisong Resource Centre 
    13. Bopaditshaba Community Project 
    14. Brain Boosters Business Education (PTY) LTD 
    15. Brainwave Projects 1997 CC 
    16. Browers Entertainment 
    17. Cedars Academy for Technical 
    18. Changing Lives Community Development Training 
    19. Compass Academy of Learning 
    20. Custoda Trust 
    21. D M Management and Consulting 
    22. DEVELO CC 
    23. Dintshang Trading 
    24. Directflo 
    25. Early Inspiration 
    26. Early Learning Foundation Montessori Teacher Training 
    27. Early Learning Resource Unit (ELRU) 
    28. EASTCAPE MIDLANDS COLLEGE BUSINESS UNIT (Uitenhage) (WA) 
    29. EBENEZER TRAINING HOUSE FOR EARLY LEARNING 
    30. Edu Experts SA 
    31. EDU-Bless College 
    32. Edu-Build Development 
    33. EDUTAK PRE-SCHOOL TRAINING AND DEVELOPMENT 
    34. Elective Training Institute Enterprise CC 
    35. eMedia Investment 
    36. Enjo Consultants 
    37. Environment and Language Education Trust 
    38. Esigangeni General Trading 
    39. Eskilz College (Pty) Ltd 
    40. FALSE BAY TECHNICAL VOCATIONAL EDUCATION & TRAINING COLLEGE 
    41. FILM Mentorship & Training 
    42. Footprint Media academy Pty ltd 
    43. Future Performance Training and Development 
    44. Future-Teacher (Pty) Ltd 
    45. Gauteng Baobab Early Learning Training Programme 
    46. Golang Kulani ELC 
    47. Goldfields FET College 
    48. Grassroots Adult Education and Training Trust 
    49. GWALA TRAINING SERVICES 
    50. Haggai Contractors 
    51. Happy Day Training and Development Services 
    52. HOPE ACADEMIC AND SKILL CENTRE 
    53. ICM t/a Institute for Career Management 
    54. Igugu Training and Investments 
    55. Ikusasa Lothisha t/a ECD Training Provider 
    56. Institute of Professional Studies and Services 
    57. Isamon Integrated 
    58. Isamon Vocational College of Excellence Pty Ltd 
    59. Isibani Skills Academy 
    60. Isibani Soluntu Development Trust 
    61. Itireleng Bokamoso Training and Development 
    62. Jabulani Training & Development 
    63. Josmap Training Institute 
    64. Kainav Conservation Global (Pty) Ltd 
    65. Keletsong Community Training & Resource Centre 
    66. Kgang-Kgolo Consulting 
    67. KHANIMAMBA TRAINING AND RESOURCE CENTRE 
    68. Khululeka Community Education Centre 
    69. Kids Academy 
    70. Kitso Bokamoso Training Solution 
    71. KITSO TRAINING AND DEVELOPMENT 
    72. Klein Karoo Resource Centre 
    73. KWAZULU NATAL EXPERIMENTAL COLLEGE 
    74. Leratham Supply Distribution and Enterprise 
    75. Leronsa Trading Enterprise 
    76. LESEDI EDUCARE ASSOCIATION 
    77. Letlhokoa Management Services CC 
    78. Li Lichule Trading cc 
    79. Little Elephant Training Centre For Early Educationt/a LETCEE 
    80. Loago Business Consulting 
    81. Lynne Hobbs cc 
    82. Majahd Educational Services Multi-Purpose Primary Co-operative Limited 
    83. Mapheto Business Enterprises t/a MBE 
    84. MASAKANE TRUST 
    85. MASIKHULE EARLY CHILDHOOD DEVELOPMENT CENTRE 
    86. MATHS CENTRE INCORPORATING SCIENCES 
    87. Media Village Communication 
    88. MENTORNET (PTY) LTD 
    89. MIDLANDS COMMUNITY COLLEGE 
    90. Mochochonono Training Solutions cc 
    91. Motheo Training Institute Trust 
    92. NATAL EARLY LEARNING RESOURCE UNIT TRUST 
    93. Ndoma Mathodi Trading Enterprise 
    94. Netgrow Training Solutions 
    95. Networx for Career Development 
    96. New Beginnings Training and Development Organisation 
    97. Nkqubela Community Developers 
    98. Noni Community Development 
    99. Northern Cape Urban College: Kimberley Campus 
    100. NORTHLINK COLLEGE 
    101. Northshore Trading 19CC t/a Makakhaunye Training and Development Agency 
    102. Ntataise Lowveld Trust 
    103. NTATAISE TRUST 
    104. Ntevho-Ketso Training and Recruitement Consultancy cc 
    105. Ntsangalala Business Enterprise 
    106. Nyelati Trading Enterprise 
    107. Omphile Botshelo Trading 
    108. Orbit FET College - Rustenburg Campus 
    109. Peddie Development Centre 
    110. Peddie Development Culture 
    111. Petra institute of Development (PTY) Ltd 
    112. PHAKAMANI AGENCY CC 
    113. PMA Holding (Pty) Ltd 
    114. PND Academy of Learning cc 
    115. POPUP UPLIFTMENT 
    116. Pro-Ed Training 
    117. PROFESSIONAL CHILD CARE COLLEGE PTY LTD 
    118. Professional Development and Training Institute (Pty) Ltd 
    119. Rampadise Education Training & Development Centre 
    120. Realeboga Development Services 
    121. Realeboga-Bakubung Training and Development Agency 
    122. REGIONAL EDUCARE COUNCIL 
    123. Retshetse Training Project 
    124. Rhodes University 
    125. Right 4 u College 
    126. Safe and Sound Learning Association 
    127. SANTS College 
    128. Siragelaphambili Abet Skills Development 
    129. Sisazi Consulting 
    130. SITHUTHUKILE TRUST 
    131. Siyahluma Education Institute 
    132. SIYATHELA EARLY LEARNING ASSOCIATION 
    133. Siyathuthuka Nursery School 
    134. South African Congress For Early Childhood Development 
    135. South African Film Institute 
    136. South African Guide-Dogs Association for the Blind 
    137. Southern African Youth Movement 
    138. Spotru Training Centre 
    139. SPS Consulting (Pty) Ltd 
    140. Step Up Training and Skills Development (Pty) Ltd 
    141. Sustainability Institute Trust 
    142. T Mabuya & Associates (Pty) Ltd 
    143. Takatso Educare Training and Development Services 
    144. Teachers Learning Centre PTY LTD 
    145. Tekollo Trading (Pty) Ltd 
    146. Tembe Service Providers 
    147. Tendazwau Trading 8 
    148. Thabelanang t/a Thabelanang Trading Enterprise 
    149. The Iscariota Group (Pty) Ltd 
    150. The Media Workshop cc 
    151. The Port Elizabeth Early Learning Centre 
    152. Thembekile training consulting 
    153. THUKAKGALADI INTEGRATED DEVELOPMENT PROJECT 
    154. THUSANANG TRUST 
    155. Thuto Botshabelo Training Academy 
    156. Thuto Ya Setshaba Training Services (Pty) Ltd 
    157. Thuto-Botshabelo Training and Projects (Pty) Ltd 
    158. Tiakeni Training Centre 
    159. TLHOAFALO TRAINING CENTRE 
    160. TPN Training and Recruitment cc 
    161. Training and Resources in Early Education (TREE) 
    162. TSHEPANG EDUCARE TRUST 
    163. Ubuntu Care and Development 
    164. Ulwazi Training & Development 
    165. UNIVERSAL COLLEGE OUTCOMES SA 
    166. Vuselela FET College - Potchefstroom Campus 
    167. Winston Academy 
    168. WonderKids Academy 
    169. Wonderkids Montessori Training Centre 
    170. World Wide Education Providers(Pty)Ltd 
    171. Woz'obona Early Childhood Community Service Group 
    172. Wozabona Early Childhood Community Service Group 
    173. Yellow Media Publishers (Pty) Ltd 
    174. Zuzulwazi Development 



    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.