Do businesses have to carry out a feasibility study?
- Thread starter Shavkat
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- #3
I agree with you. We need to conduct this study so that we can determine if the business is feasible or not.
I think not all businesses prepare a feasibility study unless it is a corporate company. They want surety against losses or bankruptcy. If a business is like to own a Lotto Franchise, it does not require an FS. It requires only show money of 500,000 pesos and site feasible for betters.
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- #6
I do agree with you that not all can do this. But then, it is still an ideal thing to do.
it will help them to know if they can go ahead with the business they way they wanted before now or not
Definitely, feasibility studies will help you with your business.
There is absolute need for businesses to carry out feasibility studies for the successful running of the business.
As for me I think the feasibility study is very important for any business. It can help to determine what business can be able to work out or not. Business that have conducted the study seems to achieve their set targets on time.
Probably, it will mostly help you to determine if the kind of business you are going into will be feasible in the near future or not. I think it will help you to make your conclusion.
It is essential for an entrepreneur to carry out a feasibility study for his/her proposed business. The study identifies the financial costs, the market demand, competition and the expected return on investment. It helps the entrepreneur determine whether the proposed business is likely to be successful.
You can't just start a business without examining if it would work or not. That's what a feasibility study does. It looks at the possibility of that business working or not working.
There is no way you should start a business without doing a feasibility, you would crash if you do. Feasibility let's you know if that business is possible to succeed in that location and the challenges you may face.b
