Departments › Fashion Design › Module IV › Entrepreneurial Skills

Entrepreneurial Skills

Fashion Design · Level 6  ·  6 Chapters

Compiled by: Dennis Munene

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What Entrepreneurial Skills covers

Money, opportunity, law and planning are the four themes of Entrepreneurial Skills in Fashion Design Level 6. Financial literacy covers the difference between needs and wants, budget preparation, where to save, factors to weigh before borrowing, types of investments and insurable risks. The entrepreneurial concept explains the difference between entrepreneurs and business persons, and the roles they play. You then look at sources of business ideas and the business life cycle, forms of ownership, contracts and taxation, and creativity and ICT in business growth. You finish by developing a business plan, from description to executive summary.

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Careers after Entrepreneurial Skills

Selling garments, accessories or sewing services needs more than skill, and this unit shows how to build a business around yours.

  • Home-based sewing businesses - turn a business idea into a plan with production and financial sections, sewing from a room in Thika.
  • Fashion market stalls - manage savings and loans carefully and understand your tax obligations at a stall in Kitale.
  • Online fashion shops - use ICT to grow the business and find customers beyond your town, selling from Kakamega.
  • Partnerships with other makers - draw up contracts and agreements, and choose a form of business ownership, with fellow tailors in Machakos.
  • Business incubation programs - present your plan to get your idea incubated in Meru.

Each of these ventures starts from a business plan, which is the last thing this unit asks you to write and present, after you have weighed the ownership form, the contracts, the taxes and the creative strategies the business will need.

Chapters

1
Apply financial literacy
13 topics
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2
Apply the entrepreneurial concept
8 topics
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3
Identify entrepreneurship opportunities
3 topics
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4
Apply business legal aspects
5 topics
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5
Innovate business strategies
4 topics
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6
Develop a business plan
9 topics
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What Entrepreneurial Skills covers: 42 main topics in 6 chapters

1. Apply financial literacy

  1. 1.1 Personal finance management
  2. 1.2 Balancing between needs and wants
  3. 1.3 Budget Preparation
  4. 1.4 Saving management
  5. 1.5 Factors to consider when deciding where to save
  6. 1.6 Debt management
  7. 1.7 Factors to consider before taking a loan
  8. 1.8 Investment decisions
  9. 1.9 Types of investments
  10. 1.10 Factors to consider when investing money
  11. 1.11 Insurance services
  12. 1.12 insurance products available in the market
  13. 1.13 Insurable risks

2. Apply the entrepreneurial concept

  1. 2.1 Difference between Entrepreneurs and Business persons
  2. 2.2 Types of entrepreneurs
  3. 2.3 Ways of becoming an entrepreneur
  4. 2.4 Characteristics of Entrepreneurs
  5. 2.5 salaried employment and self-employment
  6. 2.6 Requirements for entry into self-employment
  7. 2.7 Roles of an Entrepreneur in an enterprise
  8. 2.8 Contributions of Entrepreneurship

3. Identify entrepreneurship opportunities

  1. 3.1 Sources of Business Ideas
  2. 3.2 Factors to consider when evaluating business opportunity
  3. 3.3 Business life cycle

4. Apply business legal aspects

  1. 4.1 Forms of business ownership
  2. 4.2 Business registration and licensing processing
  3. 4.3 Types of contracts and agreements
  4. 4.4 Employment laws
  5. 4.5 Taxation laws

5. Innovate business strategies

  1. 5.1 Creativity in business
  2. 5.2 Innovative business strategies
  3. 5.3 Entrepreneurial Linkages
  4. 5.4 ICT in business growth and development

6. Develop a business plan

  1. 6.1 Business Description
  2. 6.2 Marketing Plan
  3. 6.3 Organizational/Management Plan
  4. 6.4 Production/operation plan
  5. 6.5 Production/operation plan
  6. 6.6 Financial plan
  7. 6.7 Executive summary
  8. 6.8 Business plan presentation
  9. 6.9 Business idea incubation

Revise this unit

Exam-style questions 84 Written to CDACC standard, with answers Test yourself 244 Multiple-choice, one at a time Practise questions 182 Quick recall — check you know the facts
3 more for this unit
Oral exam preparation 61 What the assessor asks, and how to answer out loud Worked calculations 31 Step-by-step maths with the common mistakes Quick cards 1,172 Myth busters, skill tips and scenarios

Beyond the syllabus

Decision simulator 6 On site, what would you do? Workplace scenarios 101 Real site situations — what would you do? Turn this into income 60 Where this skill earns — what to charge, how to find clients

Other units in Module IV