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Evaluation & Feasibility Studies Starting a Business in Australia


A feasibility study should be 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, but a feasibility study 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 also a great tool to accompany your business plans.

The five common factors that are examined in a feasibility study are:

  1. Technology and system feasibility
  2. Economic feasibility
  3. Legal feasibility
  4. Operational feasibility
  5. Schedule feasibility.

The study 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.

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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.