Community Lincs offers Business support to a range of small businesses, social enterprises and charitable or community organisations to include Proving Need, Feasibility Studies and drawing up Business Plans. We support business start-ups and on-going organisational development with particular emphasis on viability and sustainability.
For more information please contact Stuart Duckworth. Tel: 01529 301962
If businesses and community organisations want to develop projects or business start-up initiatives they will need to be able to show how they have engaged fully with their intended customers/community users. Information gathered by proactive engagement will allow them to demonstrate the level of local support and the need they have identified.
This evidence will be critically important in influencing how help and funding might be sourced from funders and support organisations. Failure to fully demonstrate need and support will clearly undermine this provision. Funders, local authorities and other support organisations are reluctant to commit to issues that have not been clearly evidenced. Feasibility studies and business planning can help this process.
Community Lincs undertakes feasibility studies with the aim of finding out the workability and viability of a potential venture or project. Before anything is invested, a feasibility study helps to identify if the venture or project is worth the time, effort and resources to go further.
Community Lincs will support an organisation develop its business plan. We will support an organisation create a logical framework to address all aspects of the business development process.
If you are just starting a business, having a well-written business plan shows that you have really done your homework. And if you are planning to expand an already established business, it demonstrates that you have carefully considered the pros, cons and odds of success.
Your business plan provides a considered and logical framework within which your business can develop and pursue business strategies over a period of time.
How do Feasibility Studies and Business Planning differ?
Often people get a little confused on the differences between a feasibility study and the development of a business plan. To help clarify this we set out the differences here.
- A feasibility study is made up of the calculations, analysis and estimated projections of a business opportunity. While a business plan is made up of mostly tactics and strategies to be implemented in order to start and grow the business.
- A feasibility study is all about the viability of the business idea while a business plan deals with business growth plan and sustainability.
- A feasibility study reveals the profit potential of a business idea or opportunity, while a business plan sets out the detail of how this potential will be achieved and sets financial benchmarks against which you can measure and review the actual performance of the business.