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Entrepreneurial Skills

Agriculture And Extension · Level 6  ·  6 Chapters

Compiled by: Bonface Omondi

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What Entrepreneurial Skills covers

Entrepreneurial Skills in Agriculture And Extension Level 6 equips you to plan, register and grow a farm-related business. The unit starts with financial literacy: balancing needs and wants, preparing a budget, managing savings and debt, making investment decisions and buying insurance. The entrepreneurial concept then covers types and characteristics of entrepreneurs, requirements for self-employment and the contribution of entrepreneurship to national development. You identify opportunities from sources of business ideas, evaluate their viability and study the business life cycle. Legal aspects include ownership forms, licensing, contracts, employment and taxation laws. Innovation looks at creativity, entrepreneurial linkages and ICT, and the final outcome produces a full business plan, presented and ready for incubation.

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Careers after Entrepreneurial Skills

A farm-related business needs money skills, a legal footing and a plan, and this unit covers all three for employees and owners alike.

  • Agricultural enterprises you start - You write the business description, marketing, operations and financial plan and present it, in towns such as Kericho.
  • Agribusiness management posts - You apply budgets, taxation and employment laws in the business you manage, in towns such as Nakuru.
  • Value addition ventures - You use creativity and entrepreneurial linkages to find new products and buyers, in Rongo.
  • Farm input retail - You choose a form of business ownership, register the business and obtain licences, in towns such as Kakamega.
  • Business incubation and support programmes - You pitch a business idea for incubation and compare salaried employment with self-employment when advising others, in Kisii.

A plan you have tested on paper also helps when you ask a lender or a partner for support.

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