Dr. Anand Saxena, Seema Sodhi
Introduction Objectives Feasibility Analysis 5.2.1 Market Analysis 5.2.2 Financial Analysis 5.2.3 Technical Analysis 5.2.4 Economic Analysis 5.2.5 Ecological Analysis 5.2.6 Legal and Administrative Analysis 5.3 Project Report 5.4 Registration 5.5 Business Plan 5.5.1 Need 5.5.2 Contents 5.6 Basic Startup Problems 5.7 Summary 5.8 Glossary 5.9 Self Assessment Questions 5.10 Further Readings 5.0 5.1 5.2
The process of setting up a business is preceded by the decision to choose entrepreneurship as a career and identification of promising business ideas upon a careful examination of the entrepreneurial opportunities. Generation of ideas is not enough; the business ideas must stand the scrutiny from techno-economic, financial and legal perspectives. That is, after the initial screening of the ideas that do not seem promising prima facie, you should conduct an in-depth examination of the chosen three-four before settling for the one where you would like to exert your time, money and energies. You should prepare a business plan that will serve as the road map for effective venturing, whether you may require institutional funding (in which case it is necessary to do so) or not. Setting up of new business enterprises is a very challenging task; you are likely to encounter many problems en route. It’s advisable to be aware of these problems as to forewarn means to fore arm!
After going through this lesson you should be able to • Conduct a feasibility analysis of the proposed business ideas in regard to Marketability Technical viability Funding Legalities • • Prepare a business plan Understand basic startup problems.
5.2 PROJECT FEASIBILITY STUDY
Feasibility literally means whether some idea will work or not. It knows before hand whether there exists a sizeable market for the proposed product/service, what would be the... [continues]
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