10. Why should an entrepreneur do a feasibility study for starting a new venture?
(A) To see if there are possible barriers to success
(B) To identify possible sources of funds
(C) To estimate the expected sales
(D) To explore potential customers
Answers
Answer:
A. TO SEE IF THERE ARE POSSIBLE BARRIERS TO SUCCESS
(A) To see if there are possible barriers to success.
A feasibility study is an essential step for any entrepreneur who is considering starting a new venture. The study is conducted to evaluate the potential success and viability of a proposed business idea.
It involves analyzing various factors that could affect the success of the business, including the market, competition, resources, financials, and technical feasibility.
One of the primary reasons why an entrepreneur should conduct a feasibility study is to identify any possible barriers to success. By doing so, they can assess the risks associated with the business and develop strategies to overcome them. This can help them avoid costly mistakes and improve the chances of success.
This can help them develop a realistic business plan and financial projections. Additionally, it can help identify potential sources of funds by giving them a better understanding of the financial requirements of the business.
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