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BUSINESS FEASIBILITY STUDY
Not all businesses are created equal
It is important to carefully examine each idea BEFORE you start spending real money and time on business development.
Through a preliminary market and competitive analysis, a business consultant can determine if you are about to spend large amounts of capital – or worse – large amounts of your time, on a venture that is destined to fail, flounder or simply give results that you were not expecting without a business strategy.
If you are interested in a second opinion to validate your thoughts about a venture you are about to undertake. Give us a call and we can discuss it with you.
How many new businesses survive the first 10 years?
A study done by the government of Canada shows that in General, after 5 years, 67 percent of goods-producing businesses and 63 percent of services businesses stayed in business. After ten years, the business survival rate was 47.8 percent and 42.9 respectively. This means that MORE THAN HALF of all businesses fail.
Mr BizDev can help you build a Business Feasibility Study to help you to be one of the ones that survive this business carnage.
You can let us know what your needs are here
The scary news doesn’t stop there.
The Same Study shows that the smaller your business is when you start, the higher the chances you will fail. Companies that start with more employees live longer. This chart shows you the longevity.
Here is what the business numbers say:
After five years 61 percent of business with 1−4 employees were still in operations while 73 percent of the companies that started with 50−99 employees company’s were still going.
Further, after 10 years only 42 percent of businesses with 1−4 employees were still active, but 55.4 percent of businesses with the bigger starting numbers were still in business.
This suggests that not only is it important to perform a feasibility study, but if you business is in the smaller category, it is even more important.
Your Business Feasibility Study will to help you to be one of the ones that survive this business carnage.
Call us and let’s assess your business needs.
If you want to do some business feasibility work on your own, there are some tools you can use that will help you.
Here are some tools both that are on other sites as well as some you can download.
We do not guarantee the suitability of quality of any of these tools. We simply want to provide you with whatever we can to support your success.