The Level 1 Award in Understanding Business Opportunities and Risks (QCF) is designed to give learners the knowledge in the risks and opportunities that you may encounter when running a business. The qualification looks at how to develop ideas for products and services and the potential risks that are involved when starting a business.

Overview

Regulator Ofqual
QCF Reference Number 600/5453/0
QCF Level 1
Credit Value 1 credits
Guided Learning Hours 8 hours
Duration Completion within two years
Structure 1 Mandatory Unit
Age Groups pre-16, 16-18, 19+
Entry Requirements

There are no formal entry requirements for these qualifications. However, in order to benefit from undertaking them, learners should possess communication skills sufficient to allow them to address the assessment requirements of the qualification

First Date for Registrations May 1, 2012
Last Date for Starts December 1, 2014
Delivery Staff Requirements

The assessment qualification is not required in order to deliver this qualification

The internal quality assurance qualification is not required in order to quality assure this qualification

See the qualification specification for further guidance relating to delivery staff competency requirements

Registration Fee for Centres £

Learner Support

As part of our partnership with the Institute of Enterprise and Entrepreneurs, learners completing this qualification are entitled to 1 years free study membership normally worth £25 provided for by SFEDI Awards.

This membership enables learners to take advantage of the following benefits:

  • Regular information on what’s happening through the IOEE Enterprise and Mentoring Monthly including case studies of people just like you who are becoming more enterprising
  • Opportunities to meet other business owners in our online communities who are happy to share how they have been there, done it, got the t-shirt and continue to wear it!
  • Enterprise resources including videos and articles to enhance your understanding of enterprise and enterprise support
  • The chance to meet other members through our Meet a Mentor and networking events
  • A chance to compare notes with other entrepreneurs and business support professionals through the online groups and forums
  • A chance to promote yourself and your business to other IOEE members through your IOEE profile page

Progression Routes

Those who complete this qualification may wish to undertake other SFEDI Awards qualifications further details of which can be found on our website.

Details of related qualifications can be found within the Related Qualification section at the bottom of this page

Documentation

Below you will find further details relating to the qualification and also the necessary paperwork for your approved centre to add it to your centre offer. If you require further information or would like guidance please contact the SFEDI Awards Customer Service Team who will be more than happy to help you.

Qualification Specification (89)

SFEDI Awards Fees and Prices (253)

New Qualification Application Form (182)

New Delivery Location Application Form (195)

Staff Matrix Update Form (193)

Centres

Related Qualifications

Level 3 Award in Understanding and Planning Business Resilience
Level 2 Award in the Promotion of Products and Services Through Social Media
Level 2 Award in Supplier Selection
Level 2 Award in Selling a Product or Service
Level 2 Award in Recruitment for Your Business
Level 2 Award in Planning for Sales
Level 2 Award in Marketing for a New Business
Level 2 Award in Choosing Business Premises
Level 2 Award in Cash Flow Forecasting
Level 2 Award in Business Relationships
Level 4 Award In Internal Quality Assurance of Assessment Processes and Practice
Level 3 Award in Understanding and Planning Business Resilience
Level 2 Award in Supplier Selection
Level 2 Award in Selling a Product or Service
Level 2 Award in Recruitment for Your Business
Level 2 Award in Planning for Sales
Level 2 Award in Marketing for a New Business
Level 2 Award in Choosing Business Premises
Level 2 Award in Cash Flow Forecasting
Level 2 Award in Business Negotiation
Level 3 Award in Understanding and Planning Business Resilience
Level 2 Award in the Promotion of Products and Services Through Social Media
Level 2 Award in Supplier Selection
Level 2 Award in Selling a Product or Service
Level 2 Award in Recruitment for Your Business
Level 2 Award in Planning for Sales
Level 2 Award in Marketing for a New Business
Level 2 Award in Choosing Business Premises
Level 2 Award in Cash Flow Forecasting
Level 2 Award in Business Relationships