There are two basic business planning tools: Business Feasibility Study and Business Plan. Business Feasibility study is a study carried out inorder to know whether a given business goal ( aim and objectives) is possible or achievable, owing to the available resources: Manpower, money, technology, management etc…

Comprehensive Feasibility study analysis each components of what is expected to be seen on a comprehensive Business Plan. It is expository and lay open the opportunities and risks involved in embarking on a given husiness.

A feasibility study is usually carried out before a Business plan.

A Business Plan is interested in knowing how available resources can be arranged or utilized to achieve the goals. A Biz plan talks ahout “how to, what to, when to, how much and who will”.

Why do you need a business feasibility study?

1. It helps in business decision making

2. It prevents wastages

3, It highlights areas of special interest.