Feasibility study of small projects in Egypt. Every applicant for new project ideas is looking for a feasibility study for a successful and profitable project in order for this study to help them whether their choice is good or not. The importance of preparing a feasibility study lies in determining the level of success of any project, whether it is small or large, Through this article, we will learn together, dear reader, the concept of a feasibility study and how to implement feasibility studies for small projects in Egypt.
Feasibility study for small projects in Egypt
It may interest you to know first what is meant by the feasibility study, which is a study carried out by the owner of an idea or project, with the aim of knowing what profits he may reap by implementing it on the ground.
It also becomes clear to you from this study the costs that you will need to invest in this project, whether in terms of time or money, in addition to identifying the obstacles that may face your project or affect it positively or negatively, such as the necessary licenses for your project or its competitors, and so on.
Usually, the feasibility study is divided into many sections, including a feasibility study:
Each of these studies specializes in one of the matters that ultimately helps you to reach your goals from that study.
In order to complete the feasibility study for your project, you have two options:
The first option: Either you implement it on your own, but you must have enough experience to ensure the success of the project when actually starting to implement it.
The second option: Or to resort to companies specialized in the field of carrying out feasibility studies, and one of the companies that everyone praised for its superior skill is the Technology Company specialized in providing administrative and economic consultancy to major companies, factories and various sectors and fields.
The technology company is also distinguished by providing thousands of other electronic services that any owner may need to achieve the success and profit that he wants to achieve in his project.
Feasibility study for a commercial project
The feasibility study is the only tool through which you, dear reader, can determine the scientific and objective form of your project, to show the extent of the success of your idea and not to risk your capital.
Where there are a number of steps to make a feasibility study, whether it is a commercial or service project, you must take it to complete an integrated and successful feasibility study that helps you understand your project, which are as follows:
Determine the basic idea of the project and the nature of the trade in which it will operate and determine its goal, by placing all your financial capabilities and the main source of financing your project, in addition to determining the raw materials for the resources that the project needs, whether human, equipment and machinery.
When conducting a project feasibility study for your commercial project, you must test the success rate of your project idea, through your answer to the question (Do I have the plan and the ability to fight the battle in the labor market and excel and withstand competitors or not), and you will get the answer to this question when You do a thorough study of the market situation in terms of the number of consumption of the commodity you wish to trade in.
Carrying out a complete design of the project form and its requirements such as the headquarters or location of the project, the equipment it needs and how to provide it, until the project comes out to light.
After your project comes to light, determine the specifications that must be available in your production and work on them in order to match your capabilities and suit the needs of the target market, until you achieve the desired goal of the project.
Develop a precise and elaborate marketing plan to promote the project in a manner that attracts the largest possible number of customers.
If you want to open any project of your own, you must have known that the first step is to prepare what is known as the economic feasibility study, which is a study designed to reveal whether a plan or project is feasible and feasible for implementation.
The economic feasibility study is also considered part of the initial design phase of any project, as it is conducted objectively to reveal the strengths or weaknesses of any existing or proposed project.
This study can help in identifying and evaluating the opportunities and risks that exist in the environment surrounding this project, in addition to that it contributes to knowing the resources required for the project as well as the extent of its success rate.
What the feasibility study actually does is that it gives you a very clear picture of your budget, in addition to knowing your logistical strengths and helping you to make adjustments to the scope or proposed plan of your project, to match your capabilities.
It is not as some believe that conducting an economic feasibility study will lead to one of the two results, which is either the failure of projects or their success only, while it is only possible to modify them.