LNF Cymru Literacy and numeracy for Wales

← All qualifications

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.

Awarding body
WJEC
Level
Level 1 and Level 2
First taught
September 2025
Amount of literacy work
Medium
Amount of numeracy work
High
Specification
Open the specification
How this qualification 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 Fluency

  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 qualifications

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).