Syllabus: WJEC - GCSE Business
Module: 1. Business Activity
Lesson: 1.4 Business Planning

Introduction

Business planning plays a critical role in the WJEC GCSE Business specification under Unit 1: Business activity, specifically section 1.4. This part of the curriculum helps learners understand how and why businesses plan for the future, manage uncertainty, and structure growth. The topic not only supports theoretical understanding but also builds practical decision-making skills, essential for entrepreneurial thinking and enterprise projects within and beyond the classroom.

Key Concepts

According to the WJEC syllabus, learners should understand:

• The purpose of a business plan, including reducing risk and helping to secure finance.

• Key components of a business plan, such as business objectives, market research, finance, marketing, and operations.

• Benefits and drawbacks of planning, including how a business plan can guide development but may become outdated or limit flexibility.

• The role of planning in supporting start-ups and small businesses, especially in competitive markets or when seeking investment.

These points should be directly linked to the learner’s ability to analyse and apply knowledge in context, for example by reviewing sample business plans or creating their own as part of a controlled assessment or enterprise activity.

Real-World Relevance

Business plans remain a staple of entrepreneurship. For instance, Tala, a UK-based sustainable activewear brand founded by Grace Beverley, gained traction after effectively pitching a clear business plan to investors and using data-driven forecasting to manage rapid early growth. Similarly, small local businesses often rely on planning to apply for government start-up loans or local authority grants. These real-world scenarios illustrate how business planning translates into action and funding, helping students see the tangible impact of strategic foresight.

How It’s Assessed

In WJEC GCSE Business exams, this topic is assessed through a mixture of:

• Multiple-choice questions to test knowledge of key terms and purposes.

• Short-answer and structured questions requiring students to apply planning concepts to business scenarios.

• Extended response questions where learners may be asked to evaluate the usefulness of a business plan or analyse how planning supports decision-making in context.

Command words such as “explain”, “analyse”, and “evaluate” are commonly used. Pupils should be taught to structure answers using evidence and balanced judgement, especially in longer responses.

Enterprise Skills Integration

Teaching business planning is a prime opportunity to nurture enterprise competencies such as:

• Problem-solving, as students assess potential risks and develop mitigation strategies.

• Decision-making, particularly when prioritising objectives or investment.

• Planning and organisation, as they map out timelines and financial forecasts.

• Communication, through presenting their ideas or defending their plans in peer critiques or simulated “Dragon’s Den” pitches.

These skills align with the Welsh Government’s emphasis on preparing students for a dynamic working world.

Careers Links

Understanding business planning supports several Gatsby Benchmark objectives:

• Benchmark 4: Linking curriculum learning to careers by relating planning to real roles such as entrepreneurs, financial analysts, retail managers, and business consultants.

• Benchmark 5: Encounters with employers and employees through guest talks or virtual case studies showing how professionals use planning tools.

Career pathways supported by this topic include:

• Business start-up roles

• Finance or banking apprenticeships

• Marketing and sales operations

• Business administration and enterprise project management

Teaching Notes

Teachers should consider:

• Using templates and tools: Introduce simple business plan templates early, e.g., those from Young Enterprise or gov.uk’s Start-Up Loan Scheme.

• Case studies: Leverage relatable success stories of young entrepreneurs or small businesses, ideally local to the school’s region.

• Common pitfalls: Watch for over-generalised plans or lack of specificity in financial and marketing elements. Encourage realistic assumptions.

• Extension activities: Run a business simulation project where students pitch ideas, budget resources, and reflect on their planning journey in teams.

• Assessment preparation: Scaffold longer answer questions with planning frames and regular peer assessment using mark schemes.