LNF Cymru Literacy and numeracy for Wales

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GCSE Business

GCSE Business asks learners to calculate and interpret costs, revenue, profit, break-even, cashflow forecasts and profit margins, and to collect, present and judge market research data in two NEA reports worth 40% together. Literacy centres on reading business sources, using business terms precisely and writing reasoned judgements in extended answers and reports. The single biggest thing Key Stage 3 should build is confidence with money calculations in a business setting, followed by a written sentence saying what the answer means for the business.

First taught
September 2025
Amount of literacy work
Medium
Amount of numeracy work
High
Specification
Open the WJEC specification (PDF)
How this GCSE is assessed
  • Unit 1: Introduction to the Business World: Written examination 1 hour 15 minutes, 30%, 60 marks
  • Unit 2: Key Business Considerations: NEA 5 hours, 15%, 48 marks, set and marked by WJEC
  • Unit 3: Business Strategies for Success: Written examination 1 hour 15 minutes, 30%, 60 marks
  • Unit 4: Business Creation: NEA 8 hours, 25%, 60 marks, set by WJEC, marked by the centre and moderated by WJEC

Skills that use The number system

  1. Income statements and profit margins

    Assessed: In the exam

    Learners calculate and interpret an income statement (gross profit, net profit) and the gross and net profit margin percentages to evaluate financial performance.

    Numeracy: Calculation, Relationships within the number system, The number system, Fluency, Conceptual understanding

    Getting pupils ready

    Year 7
    Pupils use a simple diagram to find what fraction and percentage of a £1 snack price covers costs and what is left as profit.
    Year 8
    Pupils express the profit on two tuck shop items as a percentage of each selling price and say which item earns more per pound.
    Year 9
    Pupils calculate gross profit, net profit and both profit margins from a simple income statement for a local café, then write one sentence on what the margins show.
    Show the specification wording and the LNF statements

    Where it is in the specification: Unit 3, Section 3.3.4 Financial performance, page 30

    “calculate and interpret profitability ratios to evaluate financial performance, including: • gross profit margin • net profit margin.”
    Progression step 3

    • I can calculate a percentage, fraction and decimal of any quantity with a calculator where appropriate.

    • I can use equivalence of fractions, decimals and percentages to compare proportions.

    • I can add and subtract numbers using whole numbers and decimals.

    Progression step 4

    • I can express one quantity as a percentage of another.

    • I can calculate a percentage increase or decrease.

    • I can choose the appropriate degree of accuracy to present answers.

    Progression step 5

    • I can use multipliers as an efficient method when working with percentages, e.g. multiply by 1.2 to increase an amount by 20%.

    • I can use a scientific calculator effectively and efficiently to carry out calculations using the available range of function keys.

    • I can interpret answers within the context of the problem and consider whether answers, including calculator, analogue and digital displays, are sensible.

Good to know

Links with other GCSEs

Appendix A (pages 45 and 46) maps all four literacy strands to every unit and the number system and statistics numeracy strands to every unit, with no geometry or measurement.

Source: WJEC GCSE Business specification, Version 4, September 2025 (teaching from 2025, for award from 2027).