Enterprise is an important part of the business sector and plays a major role in the UK’s global economic status. The role of entrepreneurs is to help create wealth for the nation and its citizens through the creation of enterprises that innovate and grow the economy. According to 2019 data, there are nearly six million such businesses in the UK, employing around 16.6 million people. Small and medium-sized enterprises (SMEs) account for 99.9 per cent of the business population in the UK and account for three-fifths of the employment and around half of the turnover in the UK private sector, worth around £2.2 trillion.
This qualification is for learners who want to acquire knowledge around enterprises, entrepreneurs, customers, competitors, the external environment, business planning and presenting, marketing and finance. The qualification enables learners to develop their transferable skills, such as researching, planning, making decisions and judgements, and financial literacy using realistic vocational contexts, and personal skills, such as creativity and innovation, time management, reviewing, communication and planning through a practical and skills-based approach to learning and assessment.
Learners are required to complete and achieve all three components in the qualification.
Year 10: During Year 10 you will complete your Component 1 assignment. This assignment includes 3 tasks that require you to demonstrate your knowledge and understanding around the making of a successful enterprise. This assignment is completed during your classroom study time and is marked by your teacher.
Year 11: At the start of Year 11 you will complete your Component 2 assignment. This assignment includes 2 tasks. Learners are required to generate two realistic ideas for a micro-enterprise and choose one of these to plan within budget. They will individually present their business plan for their idea and review the production and delivery of their presentation to make recommendations for improvements. This assignment is completed during your classroom study time and is marked by your teacher. During your Year 11 studies you will also complete your Component 3 examination that draws and builds upon your knowledge, understanding and practises from Component 1 and 2 of the course.
All resources will be provided.
Study of the qualification as part of Key Stage 4 learning will help learners to make more informed choices for further learning, either generally or in this sector. The choices that learners can make post-16 will depend on their overall level of attainment and their performance in the qualification. Learners who generally achieve at Level 2 across their Key Stage 4 learning might consider progression to: