btaliat
VIP Contributor
Business should not be started without carrying out some processes. These processes will determine whether one should invest the business or not. The process is called feasibility study.
Feasibility study is an analysis of all the areas of a business venture to determine its viability, profitability and future performance.
A feasibility report is the formal result of a feasibility study, and can be seen as the result of an analysis of a business venture to determine its viability, profitability and future performance.
Feasibility can be performed by the following
The entrepreneur if he's skilled enough.
An individual or an institutional business consultant.
A chartered accountant.
Feasibility study has the following importance
It helps the entrepreneurs
To understand the variables and mechanism of the proposed business.
Understand and assess the profitability of the proposed business
Decide whether to invest in the business or not.
Have a solid foundation for writing a business plan.
Have an idea of the marketing, production, personnel and other strategies for a profitable business.
Feasibility study is an analysis of all the areas of a business venture to determine its viability, profitability and future performance.
A feasibility report is the formal result of a feasibility study, and can be seen as the result of an analysis of a business venture to determine its viability, profitability and future performance.
Feasibility can be performed by the following
The entrepreneur if he's skilled enough.
An individual or an institutional business consultant.
A chartered accountant.
Feasibility study has the following importance
It helps the entrepreneurs
To understand the variables and mechanism of the proposed business.
Understand and assess the profitability of the proposed business
Decide whether to invest in the business or not.
Have a solid foundation for writing a business plan.
Have an idea of the marketing, production, personnel and other strategies for a profitable business.