Feasibility Study

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Feasibility Study

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Regrettably, the vast majority of new company initiatives fail. Some fail abruptly and spectacularly, while others gradually deplete their resources until they are no longer viable. No entrepreneur intends to fail, yet failure follows every firm, and young enterprises are more sensitive to the hazards of the commercial world, just as a newborn calf is more prone to predation than a more mature herd member. The strongest safeguard against company failure is proper preparation. A feasibility study is the initial stage in planning a new enterprise. The investment of time and money in a feasibility study will be repaid with a stronger firm that is better equipped to tackle the business world's hidden problems.

A feasibility study not only identifies possible challenges for the new company endeavor, but it may also recommend remedies or methods to prevent such problems. With this previous information, company leaders may become proactive rather than merely reacting to problems as they emerge. In several of the UAE's Free Zones, a feasibility study is required as part of the business establishment procedure. A finished research shows the authorities that the business owners are serious about their achievement. The purpose of the free zones is to establish business-friendly settings, and successful enterprises in the zones make the zones more appealing to new businesses. Businesses that fail do not contribute to the free zone's attraction. The government are attempting to prevent corporate collapse due to poor planning.

A feasibility study will look into several aspects of business operation, including: a description of the products and services offered; the company's current and projected use of technology; an examination of the intended market; a discussion of marketing strategies; how the company will be staffed and organized; a proposed schedule for roll out and expansion; financial projections; and an overview of findings and recommendations. Independent feasibility studies remove the entrepreneur's emotional engagement and provide more objective analysis of new projects.

Nadeem And Umendra Chartered Accountants began as a provider of company accounting services. Assistance with the production of feasibility studies, business strategies, and financial predictions has long been one of our key services. We can assist with existing business operations, accounting, loan rescheduling, new projects, mergers and acquisitions, and expansion plans, among other things. Nadeem And Umendra Chartered Accountants professionals use years of combined knowledge and contemporary accounting software tools to assist customers in monitoring their company growth progress, managing small emergencies, delegating duties, assessing business prospects, and managing cash flows.

The results and recommendations are the last element of a feasibility study. A recommendation is given to proceed with the venture or to stop the process, based mostly on the financial estimates but also integrating information from the other research parts. This section may also include suggestions for adjustments to the proposed business model that might enhance the outlook or explanations for why the endeavor is expected to fail.

The business plan is the next step in the process of starting a business. Assuming a favorable recommendation, the business plan outlines significant aspects of the company's operations in a way designed to promote the company and make it appealing to lenders or investors. Following a favorable feasibility study, a really successful business strategy is the natural next step.

Contact us today for Professional Financial Projections, Feasibility Studies, or Business Valuations to help you steer your company in the correct path at the appropriate time.