How to Become a Business Owner: Australian Careers in Small Business

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BSB40120

Certificate IV in Business (WA only)

If you have a business brain and would like to pursue a career in business management or administration, then this BSB40120 Certificate IV in Business qualification from Insight Training could be the ideal first step.

This modern course will provide you with all the necessary skills and knowledge, as well as confidence to enter the world of business in almost any sector. You will learn essential skills such as how to build and maintain business relationships, how to use digital technologies to collaborate in a work environment, how to apply business risk management processes, how to promote innovation in team environments and how to manage personal and professional development.

By the end of the course you will have developed your interpersonal and communication skills to a level that will ensure that you can perform competently in entry-level business roles and that you have a fully developed understanding of how teams function as well as the ability to manage others around you. This qualification will give you all you need to tackle complex challenges you will face in your business career and ensure that you are a star performer in any business sector.

You have a choice of studying this course online (blended with virtual classes), or by correspondence.

This course is approved for government funding in the Jobs and Skills WA program, for eligible students. Enquire to check if you qualify.

This course uses the following delivery methods, please take this into account when assessing course suitability:

Blended with virtual classes – you can do the whole course online but you do need to attend some online classes at specific times (a couple of nights per week) with trainers. This study mode is government funded and is the most popular type of study mode used by students at Insight Training.

Please Note: This course is NOT available to people on a 500 or 600 visa.

Blended

Business Administrator, Business Coordinator, Business Development Manager, Business Manager, Business Owner, General Manager, Office Manager, Payroll Officer, Personal Assistant, Small Business Manager, Small Business Owner

Price may vary

Flexible to suit your needs

Mini MBA

If you’re looking for a way to optimise your management and leadership skills, then this Mini MBA short course from Australian Institute of Management (AIM) Education and Training could be ideal for you.

This Mini MBA encompasses six comprehensive online modules designed to equip you with tools, templates, and strategies in critical areas of Strategy, Leadership, Customers, Numbers, Change, and Action. On completion of the online curriculum, you will engage with your peers during a two-day workshop at one of AIM’s conveniently located campuses or though an online virtual workshop. This workshop aims to enhance your skills, enabling you to effectively translate strategy into action, while fostering your ability to communicate, collaborate, and innovate. At the end of the course you should be able to apply new ways of thinking to everyday business challenges and deploy various models and techniques to benefit your leadership skills.

This course involves six modules to be completed though AIM’s online learning portal, followed by a two day workshop at one of AIM’s campuses in Sydney, Melbourne, Brisbane, Adelaide or Canberra, or through an online virtual workshop.

Blended, Classroom, On Campus, Online

ACT, NSW, QLD, SA, VIC

Business Advisor, Business Consultant, Business Development Manager, Business Manager, Business Owner, Business Strategist, Chief Executive Officer (CEO), Leadership Coach, Management Consultant, Managing Director, Project Leader

Price may vary

2 Days + 20 hours of study

On this page

What is a Business Owner?

What will I do?

What skills do I need?

Resources

What is a Business Owner?

The role of a Business Owner is both dynamic and rewarding, offering individuals the opportunity to shape their own professional journey. Business Owners are the driving force behind their enterprises, responsible for overseeing all aspects of their operations. This includes everything from strategic planning and financial management to marketing and customer relations. They are not just leaders; they are visionaries who bring their ideas to life, creating products or services that meet the needs of their community and beyond.

In this multifaceted role, Business Owners wear many hats. They are tasked with developing business strategies that align with their goals, managing budgets, and ensuring compliance with regulations. A significant part of their responsibilities involves building and leading a team, which includes hiring, training, and evaluating staff performance. By fostering a positive work environment, they inspire their employees to contribute to the business’s success, creating a culture of collaboration and innovation.

Daily tasks for a Business Owner can vary widely, reflecting the unique nature of their business. They may spend time analysing market trends to identify new opportunities, engaging with customers to gather feedback, or networking with other professionals to build partnerships. Additionally, they often oversee marketing efforts, ensuring that their brand resonates with their target audience. This hands-on approach not only helps in driving sales but also in establishing a strong brand presence in the market.

Ultimately, a career as a Business Owner is about embracing challenges and celebrating successes. It offers the chance to make a meaningful impact, not just on the business itself but also on the lives of employees and customers. With the right mindset and determination, individuals in this role can create thriving enterprises that contribute positively to their communities, making it a fulfilling career choice for those with an entrepreneurial spirit.

Career snapshots For Business Owners

Business Brokers play a crucial role in the buying and selling of businesses, acting as independent agents to facilitate transactions. This career typically attracts individuals with a strong understanding of market dynamics and business valuation.

Average Age: 55 years
Gender Distribution: 17% female
Hours Worked: Average full-time hours per week is 42
Employment: Approximately 580 people are employed as Business Brokers
Projected Growth: Annual employment growth data is not specified
Unemployment Rate: Specific unemployment rates for this role are not provided
Median Weekly Earnings: Data on median earnings is not available

Business Brokers are predominantly found in industries such as rental, hiring, and real estate services, as well as wholesale trade and professional services. The role requires a blend of analytical skills and interpersonal communication to effectively advise clients on business transactions.

As the market for buying and selling businesses continues to evolve, the demand for skilled Business Brokers is expected to remain steady, making it a viable career option for those interested in entrepreneurship and business management.

Source: ABS, 2021 Census of Population and Housing.

What will I do?

Being a business owner is a multifaceted role that requires a blend of strategic thinking, operational management, and interpersonal skills. Business owners are responsible for steering their companies towards success, which involves overseeing daily operations, managing finances, and ensuring customer satisfaction. This dynamic position demands adaptability and a proactive approach to problem-solving, making it both challenging and rewarding.

Oversee company operations – Direct production, sales, administrative, and distribution activities to ensure smooth functioning.
Manage personnel – Handle hiring, training, and performance evaluations to build a competent team.
Develop marketing strategies – Create and implement client acquisition and marketing plans to grow the business.
Establish company policies – Develop and assist with company-wide policies, procedures, objectives, and business strategies.
Review financial activities – Monitor financial performance, set pricing strategies, and manage budgets to ensure profitability.

What skills do I need?

A career as a business owner requires a diverse set of skills that encompass various aspects of management, finance, and interpersonal communication. Key skills include strong leadership abilities to guide teams and make strategic decisions, as well as financial acumen to manage budgets, set pricing, and ensure profitability. Business owners must also possess marketing skills to effectively promote their products or services and attract customers. Additionally, problem-solving skills are essential for navigating challenges and adapting to changing market conditions.

Moreover, effective communication is crucial for building relationships with clients, employees, and stakeholders. Business owners should be adept at negotiating and networking to foster partnerships and drive growth. Time management and organisational skills are also vital, as they help in balancing multiple responsibilities and ensuring that operations run smoothly. Continuous learning and adaptability are important traits, enabling business owners to stay informed about industry trends and implement innovative practices that can enhance their business’s success.

Skills/attributes

Strong leadership skills
Effective communication abilities
Financial management expertise
Strategic planning and vision
Problem-solving capabilities
Marketing and sales knowledge
Adaptability and resilience
Time management and organisational skills
Networking and relationship-building
Understanding of legal and regulatory requirements
Customer service orientation
Ability to analyse market trends
Team management and development
Negotiation skills
Creativity and innovation

Resources

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VIC

ACT

TAS

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How to Become a Business Owner: Australian Careers in Small Business

What is a Business Owner?

Career snapshots For Business Owners

What will I do?

What skills do I need?

Skills/attributes

Resources

Career Outcomes