Managing a Creative Business

Aim

The aim of this unit is to enable learners to manage a small business in the creative arts sector by examining the personal and professional skills required.

Learning outcomes

LO1 Understand the structures of small businesses in the arts sector

1.1 Explain the structures of businesses in the arts

1.2 Explain the roles and responsibilities of sole traders, partners and directors

1.3 Explain how small businesses inter-relate with businesses, large and small

1.4 Analyse the importance of small businesses to the arts sector

1.5 Evaluate personal levels of existing competence of enterprise skills

LO2 Understand sources of funding and support available to small businesses

2.1 Research appropriate sources of funding for ongoing business needs, through relevant case studies

2.2 Evaluate sources of funding for new small business enterprises

2.3 Research the various organisations which may support small business enterprises in the arts sector

2.4 Evaluate the support which these organisations might provide

LO3 Be able to apply financial administration techniques important to small business enterprises

3.1 Set up systems for the recording of financial transactions

3.2 Calculate likely liabilities in respect of tax, NI and VAT

LO4 Understand management issues relevant to small business enterprises

4.1 Explain the demands likely to be made of small business proprietors in the arts sector

4.2 Evaluate the potential impact of identified external factors on small business development

4.3 Evaluate business plans relevant to small businesses in the arts