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Business plan: Approved status, Flag 1

Definition

Whether a given business plan has been granted approval as meeting the expectations of a business plan developed through the Self-Employment Assistance program, represented as a flag.

Components

Data Element (this item)
Business plan: Approved status, Flag

Representation

This representation is based on the value domain for this data element, more information is available at " Approval flag N 1 ".
Values
Value Meaning Start Date End Date
Permissible Values NULL No
1 Yes

Comments

Business plans may only be approved once they at minimum include the following:

  • A title page
  • An executive summary, including business overview and the business and personal goals of the participant (client)
  • A marketing plan, including market research and SWOT analysis
  • A business plan, including business structure and any legal, compliance, and work health and safety requirements
  •  A risk plan

From 1 July 2023 the risk plan must contain information on business insurance and disaster planning.  Also, from 1 July 2023 a business plan must contain:

  • An operational plan
  • A financial plan, including a 2-year cash flow forecast and information on funding sources
  • Appendices, including how the specified criteria have been met, the hours per week a participant will work on the business, how the business will be insured, and other relevant information as needed.

Related content

Relation Count
Input in Derivations 0
Output in Derivations 0
Inclusion in Data Set Specifications 0
Inclusion in Data Distributions 2
Use within a Question 0
As a numerator in an Indicator 2
As a denominator in an Indicator 0
As a disaggregation in an Indicator 0