Think of a business idea, and, develop your idea into a business concept statement (often referred to as a feasibility analysis) where the idea is made more tangible. conduct both primary and secondary research and include the following analysis:

Business Description
• Values/mission/vision
• What is your USP?
• Describe your business model

Industry Analysis
• Discuss and demonstrate a thorough understanding of the industry in which you will operate.
• Trends and opportunities
• The state of the economy

Market Analysis
• Pricing strategy
• Thorough analysis of market size
• Identify and analyse target market, market position and market share

Competitor Analysis
• Evaluation of the strengths and weaknesses of your competitors
• Positioning in relation to competitors
• Identify your differentiation strategy

Financial information
• Outline your start-up costs (no need for any financial projections)
• Resource requirements
• Demonstrate how your business model will be viable

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