A feasibility study is the initial stage of a new venture’s planning process and the strongest line of defence against a failing business. A stronger company that is more equipped to handle the unspoken obstacles in the business world will result from the time and money invested in a feasibility study.
A feasibility study can help identify potential issues that the new company venture may face as well as offer remedies or preventative measures for such issues. With this prior information, business leaders stop only reacting to issues as they happen and start taking proactive measures. It is necessary in several of the Free Zones in the United Arab Emirates in order to create a business. The purpose of the free zones is to offer business-friendly settings and prosperous enterprises and increase the appeal of the zones to new enterprises.
Compared to other market feasibility study businesses in the UAE, our consulting services are superior due to our established footing in this area and our experience spanning several sectors and regions. We also provide similar services in the nations where we have network offices due to our global reach.
Why Choose VAT Accounting for Feasibility Study in UAE?
The following are some advantages of VAT Accounting’s feasibility research in the UAE –
- Better decision making
- Undiscovered prospects
- Excellent group of professionals
- Increased project success rates in the future
- Thorough reporting of KPIs for the suggested investment
- A better company plan with clear goals and objectives, as well as other paths
- Independent and objective evaluation founded on a solid grasp of the project
- The increased success rate resulting from a thorough multi-factor assessment
- Aids in fundraising and investor pitches; contribute to the future success of the firm
- Superior understanding of the target market, distribution channels, and product market comprehensive risk evaluation and mitigation strategy
- Including financial data from P&L, cash flows, capital budgeting, breakeven/payback, cost factor analysis, net present value analysis, and return on investment
Need and Benefit of Feasibility Study
Where an investor or entrepreneur may be too emotionally or personally involved in a new project proposal to be able to take an unbiased perspective of risks and potential, an objective “outside in” view and advice are essential. That risk is reduced by objective guidance from leading market feasibility study firms like VAT.
Furthermore, it is challenging or inefficient to perform in-house market research of the same calibre, scope, and depth as that which our market feasibility study consulting services provide.
Moreover, banks and financial circumstances frequently need an independent third-party feasibility analysis when money is sought for a new project. Since it is typically anticipated to be current, even if you completed one a few years ago, it might not be sufficient, in which case a fresh feasibility study is required. The majority of UAE banks approve VAT’s feasibility reports.
Feasibility studies are crucial for new product development or initiatives within established firms, as well as for brand-new enterprises and endeavours. This is true even if the parent company or related firm is well-established or profitable, as it does not ensure that the new endeavour will be successful. It is still necessary to consider all pertinent elements, including the state of the product market, competition, technology, customer behaviour, economy, and regulatory environment.
These are general justifications and advantages for conducting a feasibility study. Still, they are particularly crucial in a market as fast-moving and hyper-dynamic as the United Arab Emirates, where quick economic expansion drives ongoing adjustments to market dynamics (competitions and opportunities) as well as regulatory compliances.
If you are looking for the best feasibility study company in Dubai, contact VAT Accounting, as we offer comprehensive services for your business.