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Skill Details

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Skill Overview

Complete any element of the online programme at your own pace.

OPEN SME translates university insights into practical business tools, aimed to help your business be more productive, resilient, and sustainable.

The Finance course covers three key units:

Cost Control - uncover if your business is wasting money – and what you could do to reduce needless costs.

Pricing - how to select different pricing strategies that will help you to improve your business results.

Cash Flow - the importance of having "sufficient" cash within your business to avoid failure.

You can craft your own route through the course to adopt best practices and management methods in the areas you need it most.

Learning Objectives

The Cost Control learning path will allow you to uncover if your business is wasting money – and what you could do to reduce needless costs.
By the end of the unit, you will be able to:  
•	define the terms price, cost and value
•	explain the 80-20 rule
•	describe different types of cost, including fixed, variable, relevant, sunk, hidden, good and bad
•	discuss Porter’s Value Chain


The Pricing learning path  covers how to select different pricing strategies that will help you to improve your business results.
By the end of the unit, you will be able to:
•	consider the factors affecting your pricing strategy
•	select from a range of different pricing strategies that may be of value to your business
•	calculate 'break-even' so you know exactly at what point your business becomes profitable


The Cash Flow learning path covers the importance of having "sufficient" cash within your business to avoid failure.
By the end of the unit, you will be able to:
•	define the key terms profit and cash
•	explain what a cash cushion is and discuss its limitations
•	analyse some cash flow examples from small businesses
•	explain how cash flow can be managed
•	list the benefits of careful cash flow management

Funding Option

Funding Eligibility

Available to any business based in Greater Manchester. Including Sole Traders, Social Enterprises, CICs. More than one person in the organisation can register on the programme.

Skill Price ex VAT (£)

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Skill Eligibility (Prerequisites for skill/software requirements)

Understanding of basic business finance

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