Undertaking a Feasibility Study

A feasibility study is an important and necessary step, to design the business incubator and assess whether or not and how an incubator might be feasible. The NBIA notes: “Providing detailed answers to critical questions, a feasibility study helps business incubator developers decide whether a business incubator will prove effective in a particular setting, by determining if the proposed project has a solid market, sound financial base, strong community support, and true champions. Beyond that a feasibility study identifies obstacles that business incubator organizers might have to overcome and offers options for surmounting them. It also may look at whether a proposed business incubator will further a community’s broader economic development goals.” This article contains information and guidance about how to undertake a feasibility study. (See also Feasibility Studies Guideline)