Level 2 Award in Setting Up Your Own Business
Qualification number 603/1927/6
Number of units 1
Guided learning hours 25
This short qualification for the 14+ age group is to help them consider setting up their own business or being self-employed. It is designed to highlight the features and challenges so that informed decisions can be made. The qualification culminates in a self-assessment of whether setting up a business is the right decision. It is assessed by assignment.
On successful completion of this Award, the learner will be able to:
- Understand the benefits and drawbacks of self-employment based on their circumstances and needs
- Demonstrate an awareness of the legal responsibilities
- Outline the business proposition
- Understand the personal and business monetary needs
- Understand the requirements for accurate financial recordkeeping
- Demonstrate an awareness of the financial obligations
Qualification objective
The objectives of the Level 2 Award in Setting Up Your Own Business are as follows:
• To understand the benefits and drawbacks of self-employment based on individual personal circumstances and needs
• To demonstrate an awareness of the legal responsibilities of being self-employed in the local environment
• To be able to outline the business proposition • To understand the personal and business monetary needs for a business proposition
• To understand the requirements for accurate financial recordkeeping
• To demonstrate an awareness of the financial obligations of self-employment in the local environment
Who is it for?
This qualification is for learners who are 14 and over. This qualification is aimed at individuals who are considering setting up their own business and being self-employed and is designed to highlight the features and challenges of being self-employed so that informed decisions can be made. The qualification culminates in a self-assessment of whether setting up your own business is the right career decision for you.
Who regulates this qualification?
The qualification is regulated in the UK by: • Ofqual
Entry guidance and criteria
Entry guidance and criteria There are no formal entry requirements to study Level 2 Award; however, the center should ensure that you have a reasonable expectation of success on the program by assessing your previous qualifications and/or related work experience. Hence, it is their responsibility to use their professional and academic judgment when assisting you in deciding which level you should enter the programs. To successfully study for a qualification, you should have appropriate English language skills (reading, writing, speaking, and listening).
For Level 2 qualifications we recommend the following standards are met:
• IELTS 5.5 • Cambridge ESOL – Preliminary PET or BEC
• Pearson Test of English Academic (PTE) – 36-41
• Common European Framework of Reference (CEFR)- B2
Qualification structure
ABE Level 2 Award in Setting Up Your Own Business (603/1927/6)
The Level 2 Award in Setting Up Your Own Business consists of one mandatory unit. To be awarded this qualification you must achieve a minimum of a Pass in the mandatory unit.
The total Guided Learning Hours (GLH) is 25 hours
The Total Qualification Time (TQT) is 30 hours
The credit value is 3