Which Course is Best for Starting Your Own Business?

Starting a business is a bold and rewarding adventure, but it can also be fraught with challenges. Whether you’re looking to launch a tech startup, a retail venture, or a social enterprise, equipping yourself with the right skills and knowledge is essential for success. In Australia, a variety of accredited courses and short programs are available to help aspiring entrepreneurs thrive. This article explores the best educational pathways and resources to kickstart your entrepreneurial journey.

The Importance of Education for Freelancers & Entrepreneurs

Education is a powerful tool that provides aspiring business owners with critical skills, knowledge, and insights into the dynamic world of entrepreneurship. Here are several reasons why education should be at the forefront of your business planning:

1. Skill Development: Courses can equip you with essential skills such as financial literacy, marketing, business strategy, and leadership.
2. Networking Opportunities: Educational environments often provide connecting points with like-minded individuals, mentors, and industry experts.
3. Credential Boosting: Completing accredited courses can enhance your credibility with investors, clients, and partners.
4. Job ready skills: VET courses can provide you with job ready skills that get you to business competence in the shortest time possible.

Accredited Business Courses

In Australia there are several course types that can provide a solid foundation for launching a business:

Certificate IV of Entrepreneurship and New Business
BSB40320 

• Institutions: Various private RTO & TAFE institutes across Australia.
• Overview: This qualification focuses specifically on helping students to develop, launch, and manage their own business ideas, including financial management and marketing strategies.
• Duration: Generally around 1 year.
• Career Outcomes: Graduates will possess practical skills to immediately apply in their entrepreneurial ventures.

The Certificate IV in Entrepreneurship and New Business is specifically designed for individuals looking to explore their entrepreneurial aspirations and gain practical skills in launching and managing new ventures. Provided by various registered training organisations and TAFE institutes across Australia, this qualification equips students with essential tools for navigating the complexities of starting a business.

The curriculum covers vital topics such as business planning, marketing strategies, financial management, and understanding the legal requirements involved in entrepreneurship. Typically completed within six to twelve months, the program is highly adaptable, allowing for both full-time and part-time study options. Graduates of this certification often find themselves well-positioned to kickstart their own businesses or take on roles in small business management, equipped with the practical knowledge and confidence to turn their entrepreneurial ideas into reality.

Certificate IV in Business
BSB40215

Institutions: Offered at various TAFE institutes and private vocational training organisations across Australia.
Overview: This course provides foundational knowledge and skills in business operations, including key areas such as communication, financial administration, and customer service management. It is designed to prepare students for roles in supervisory or entry-level management positions.
Duration: Typically 6-12 months, depending on full-time or part-time study options.
Career Outcomes: Graduates are well-equipped for various roles in business administration, contributing effectively to team operations and organisational success. 

The Certificate IV in Business provides learners with a solid foundation in business operations and practices. It covers a range of critical skills including communication, project management, financial administration, and customer service. Ideal for those looking to take on supervisory roles or launch their own ventures, this qualification equips students with practical knowledge applicable to real-world business scenarios.

Certificate IV in Leadership and Management
BSB42015

Institutions: Available at TAFE institutes, vocational colleges, and online learning platforms across Australia.
Overview: This qualification focuses on developing leadership skills, enhancing team management capabilities, and fostering effective communication. Students learn to motivate teams, manage performance, and navigate workplace challenges.
Duration: Generally 6-12 months, flexible study options available.
Career Outcomes: Graduates often progress to team leader or supervisor roles, equipped to lead diverse teams and drive enhanced workplace performance.

Designed for emerging leaders, the Certificate IV in Leadership and Management focuses on developing essential leadership skills such as team management, decision-making, and effective communication. Participants learn to motivate and support teams, manage individual performance, and drive organisational goals. This qualification is perfect for individuals looking to advance into leadership positions or enhance their existing management capabilities, although it may suit new business owners depending on your current skill set.

Diploma of Leadership and Management
BSB50420

Institutions: Offered by universities, RTOs and TAFE institutes throughout Australia, with options for both in-person and online delivery.
Overview: This diploma provides advanced training in leadership theory and practical applications, covering strategic planning, project management, and organisational change. It prepares students to lead teams effectively and influence business outcomes.
Duration: Typically 1-2 years, depending on full-time or part-time study.
Career Outcomes: Graduates are prepared for senior management positions, capable of spearheading initiatives and leading teams in fast-paced business environments.

The Diploma of Leadership and Management delves deeper into advanced leadership strategies and business acumen. It trains students in strategic planning, project management, human resource development, and navigating complex organisational challenges. Graduates emerge with a strong understanding of how to lead teams, influence change, and align business objectives with overall organisational vision, making them well-prepared for senior management roles.

Diploma of Business
BSB50215

Institutions: Available at numerous universities and vocational education institutions across Australia.
Overview: This diploma offers a comprehensive curriculum covering essential business concepts, including marketing, finance, and customer engagement strategies. Students gain practical skills applicable to various business contexts.
Duration: Generally 1-2 years, based on study mode (full-time or part-time).
Career Outcomes: Graduates often pursue careers in business management, marketing, or entrepreneurship, equipped with the knowledge to effectively start and manage a business.

The Diploma of Business offers a comprehensive overview of essential business skills and principles. It covers topics such as marketing, finance, customer engagement, and operational planning. This qualification is particularly beneficial for aspiring entrepreneurs and managers, providing them with the knowledge to develop, manage, and grow businesses effectively. The diploma is designed to equip participants with both the theoretical understanding and practical skills necessary to succeed in today’s competitive business landscape.

Short Courses and Online Learning Platforms

In addition to formal degrees, numerous short courses can provide targeted skills and knowledge without a long-term commitment. Many online platforms offer flexible learning options suited for busy individuals.

1. Coursera

• Notable Courses:
  • Entrepreneurship: Launching an Innovative Business (University of Maryland)
  • Business Strategies for Social Impact (Wharton School, University of Pennsylvania)
• Overview: Coursera partners with top universities, providing a variety of courses on entrepreneurship, finance, and innovation.
• Duration: Courses typically range from a few weeks to a couple of months.

2. edX

• Notable Courses:
  • MicroMasters in MBA (University of Queensland)
  • Innovation and Entrepreneurship (Copenhagen Business School)
• Overview: edX offers numerous programs via accredited universities, allowing you to explore key business concepts at your own pace.
• Duration: Courses can take from 6 to 10 weeks, depending on the topic.

3. LinkedIn Learning

• Notable Courses:
  • Starting a Business: An overview course focusing on the essentials.
  • Financial Basics for Small Business: Key financial principles for new entrepreneurs.
• Overview: Focused on practical skills, LinkedIn Learning offers concise, expert-led courses suited for immediate application in business settings.
• Duration: Individual courses range from 1 to 2 hours.

4. Skillshare

• Notable Courses:
  • Business Basics: Start & Grow Your Business
  • Marketing Strategy: How to Grow Your Business
• Overview: Skillshare features many user-led courses, promoting creative approaches to entrepreneurship.
• Duration: Classes generally last 30 minutes to 2 hours, providing bite-sized learning opportunities.

Education is an invaluable asset for any aspiring entrepreneur. By engaging in accredited courses or targeted short programs, you’re not only acquiring essential skills but also setting a foundation for a successful business venture. From comprehensive degree programs in renowned universities to flexible online courses, the educational resources available in Australia are vast and varied. Embark on your entrepreneurial journey armed with knowledge, and take that crucial first step towards turning your business dreams into reality!

What’s Best For You?

A lot may depend on the type of business you are starting.

Budding Entrepreneur: For individuals looking to start their own business, the Certificate IV in Entrepreneurship and New Business is an excellent choice. This qualification provides practical skills in business planning and management, making it easier to navigate the complexities of launching a startup.

Tradie: Tradies, such as electricians, plumbers, and builders, who wish to enhance their business acumen and potentially transition into business ownership, can benefit from the Certificate IV in Business or the Certificate IV in Leadership and Management. These qualifications will help them develop leadership skills, understand customer service principles, and manage their operations more effectively. The foundation laid by these certifications will significantly benefit tradies looking to expand their individual trades into a larger contracting business.

Technical Contractor: Technical contractors, who often operate in specialised fields like IT, construction, or engineering, can consider pursuing a Certificate 4 in Business, a Certificate 4 in Entrepreneurship and New Business, or a Diploma of Business. These qualifications provide a comprehensive overview of business operations, necessary for managing contracts and projects, as well as marketing and finance.

Additionally, a Diploma of Leadership and Management can be valuable for those looking to advance into leadership roles, enhancing their capacity to manage teams and lead projects efficiently.

Gig Economy Worker: For gig economy workers—freelancers, delivery drivers, or consultants—flexibility and adaptability are key. Short courses such as those offered on platforms like Coursera or LinkedIn Learning in entrepreneurship, finance, and marketing can provide essential skills without a long-term commitment.

However, the Certificate IV in Business could also be a good option for gig workers who wish to formalise their knowledge, improve their business management skills, and understand the complexities of running their freelancing or consulting practice.

Additional value may be in Certificate IV in Entrepreneurship and New Business, or a Diploma of Business, and it’s worth noting that gig economy workers may be able to use a business qualification to land more (or better!) clients.

Also consider whether you need the course to be delivered in standard, classroom format or if you need the flexibility of online business courses.

One last thought

Thank you for reading this, and as a special bonus for getting all the way to the bottom, I’d like to pass on a sneaky favourite of mine.

Join you local library and ask them about electronic library access.

My local library offers Libby, which is an ebook & audio book reader with masses of business books and audiobooks (great for travelling), and even more amazing is that you get access to LinkedIn Learning – for FREE!