They assess certain specifics when there is a challenge in a particular identified section of the business. These depend on the section but they are:
iv.i. Economic feasibility
Economic analysis commonly known as cost-benefit analysis is the most frequent approach for evaluating the effectiveness of a business by determining the benefits and savings expected from it after comparing them with costs. It is crucial to objectively weigh the cost against the benefits before going ahead with the start up. The benefits must outweigh the costs, if it is viable.
iv.ii. Legal feasibility
This is to investigate and ensure that the proposed business conforms with all legal prerequisites. All registrations are already done with the various Government and professional bodies. They all depend on the type of business.
iv.iii.Operational feasibility
Operational feasibility assesses how competently the proposed business gets to the bottom of challenges and exploits all the opportunities earlier noted during capacity description. It also checks how the business complies with the necessities established in the requirements analysis part of the business development .
iv.iv. Schedule feasibility
Schedule feasibility is a appraisal to determine how suitable the business take off timetable is. It considers the available technical skills, how realistic the business deadlines are, how compulsory and considered necessary are those time limits. Some businesses may require certain time span to develop and mature, to be viable. For example a few months time limit for a Cocoa plantation business is unrealistic when it is obvious that it will require some years to start yielding. It however becomes a highly rewarding at pay off subsequently.
iv.v. Resource feasibility
Resource feasibility entails examining and determining the availability of the type and amount of required resources for the business start up. Such resources include the time/period available, its dependencies, its interferences with other operations, etc
iv.vi. Financial feasibility
In a start up business, the financial feasibility tests the financial viability of the proposed business based on the total estimated cost of the business, financing format like the intended capital configuration, debt equity ratio and promoter's share of total cost, existing investment by the promoter in other businesses and the expected cost–benefit analysis
