Learn How To Write Feasibility Study Of A Business Venture And Projects

Feasibility Study

Feasibility Study Of A Business Of A Business And Project Management

Feasibility study of a business is a vital back bone to good business plan. One of the factors to be consider in making business plans is on the strength of the results from market analysis and survey. When a market survey and review is carried out in a business, a feasibility study is carries out.

Feasibility study analysis is a comprehensive research of a business agent that determine the business profitability, practicability and viability. Feasibility studies goes in hand with business planning process. The main goal of a business feasibility is to model the business pattern. It is therefore, an overview of the business plan.

Feasibility studies of a business reviews its weakness, opportunities, strength, threat and asset required to promote and evaluate the achievement of a business plan. Feasibility study also reveals the viability and non-viability of a business. It also help to determine the profitability and expenditure of a business.

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What are the Reasons for Feasibility studies?

Funding in business requires attention in a new business ideal. Some personal funding and saves could be the source of finance. In order not to waste resources, there is need to know reason why people carry feasibility studies in business. They include:

  1. Feasibility study analysis is done to determine the financial feasibility of the business. It’s income, expenditure, profit and loss.
  2. It helps in appraisal of a business venture
  3. Feasibility studies helps to identify the challenges of a new start up business and how to overcome the challenges using its strength.
  4. Feasibility studies is used to decide about the continuity of the business.

 

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How do I Write a Feasibility Analysis Report?

The complexity of a business feasibility study analysis is dependent of the type of business venture. Feasibility analysis is designed to be simple and comprehensive. The structure of a feasibility analysis is not rigid but not limited, it depend on the type of business, organization and the need of the organization. The following list is the template of the feasibility study analysis.

  1. Entrepreneur’s profile: this could be e-mail address, name, position, telephone number, educational qualification and residential address.
  2. Business name: the name of the business should be stated and the type of business. Business could be sole proprietorship or partnership.
  3. Branches and locations of the business
  4. History of business
  5. The objectives of the business
  6. The management and it’s strategy
  7. The proposal of the capital
  8. Sources of finance at start up process
  9. Feasibility plan contains production and operational requirements
  10. Risk analysis are contained in feasibility analysis plan
  11. Feasibility analysis plan has growth and break even period details
  12. Feasibility study analysis plan has financial assessment and projection strategies
  13. It contains market potential assessment and strategies
  14. Feasibility studies plan contains economic analysis
  15. Risk analysis is involved in feasibility studies
  16. Others includes: operational feasibility, resources feasibility, and legal feasibility and SWOT analysis.

 

Critical factors for Growing Business

Business growth is of great importance to the nation’s economy. Many businesses phase out after two years of operation, therefore to grow and remain in business the following listed points will help you create a more and reliable business:

Competence: An entrepreneur has to be competent in his business. He or she should learn new skills and acquire experiences that would give guide to successful business.

Financial discipline: there are many businessmen who are not disciplined as regards to the business funds. They finally end up spending the business fund and the business goes on extinction.

Clarity and creativity: A businessman should have a clear vision and purpose for business. These objectives and goals should be clearly written on comprehensible manner. Creativity helps improve business, a business that lack innovation has no future. Therefore, a business should be able to create new strategies and ways to maintain their reputation and line of business.

Others includes: reputations, resilience and focus.

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