ENTREPRENEURSHIP

Detailed explanation-1: -Some reasons to do a feasibility study include: You are considering a major change or investment. You want to assess the viability of a new business or product. You need to understand the risks and potential rewards associated with a project.

Detailed explanation-2: -What Is the Main Objective of a Feasibility Study? A feasibility study is designed to help decision-makers determine whether or not a proposed project or investment is likely to be successful. It identifies both the known costs and the expected benefits.

Detailed explanation-3: -A feasibility study allows a business to address where and how it will operate, its competition, possible hurdles, and the funding needed to begin. The business plan then provides a framework that sets out a map for following through and executing on the entrepreneurial vision.

Detailed explanation-4: -Feasibility analysis is the process of determining whether a business idea is viable. It is the preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is worth pursuing.