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Evaluation & Feasibility Studies Starting a Business in Australia
A feasibility study is carried out to determine if the business you plan on starting will actually work and turn out profits – i.e. is the business idea you have come up with feasible? A feasibility study will let you know exactly what you have to do so that your business can succeed, and if so, how successful it’ll be. It is important to do one of these before you start your business.
Not only can this help you out, it is also a useful tool for potential investors/business partners, as it can show them that your business has a good possibility of being successful. The feasibility study is a great tool to accompany your business plans.
The five common factors that are examined in a feasibility study are:
- Technology and system feasibility
- Economic feasibility
- Legal feasibility
- Operational feasibility
- Schedule feasibility.
It can be widened to include aspects such as market, resource or financial feasibility. These are important things to examine before you launch a new business or subsidiary.
Our dedicated team can not only assist you with all your business needs, but also provides comprehensive legal, financial advice, planning, and accounting services. Please click here to submit an enquiry or call us on +61 2 9223 9166.
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The Quinn Group operates Quinn Consultants, Quinn Lawyers, Quinn Financial Planning and Quinn Financial Solutions. The Quinn Group provides related information in regard to legal, accounting and financial planning issues. Liability limited by a scheme approved under Professional Standards Legislation* *other than for the acts or omissions of financial services licensees.