Feasibility Studies
Businesses need to decide whether a new venture is viable, before committing funding to a new venture.
A feasibility study looks at the viability of an idea with an emphasis on identifying potential problems. The study will attempt to answer your most important question – whether you should proceed with the plan or not.
Critical components of the study are:
- Your product or service
- The industry you will be competing in
- The nature of the market
- The amount of capital needed to kick-start the venture.
