The Impact of Feasibility Study in Enhancing Growth and Development of Business Organisations in Ikeja Local Government Area of Lagos State

ABSTRACT

This project report studied the Impact of Feasibility Studies in Starting up a New Business, A Case Study of Selected Firms in Ikeja, Lagos State.  The study examined the content of a feasibility study, the relationship between feasibility study and business growth, ascertain the relationship between feasibility study and business performance among business firms in Ikeja, Lagos State. In studying the above objectives, the researcher adopted the survey research method which helped them evaluate existing practices as well as suggests way of overcoming flaws observed in the prevailing norms.  To do this, the researchers used sample of 100 respondents was studied using the sampling technique of non-probability sampling.  The method of data collection used by the researchers is the questionnaire method.  In the process of the study, the researcher made the following findings; that the level of awareness of the respondents regarding the use of feasibility studies in the course of enhancing business growth and development is very low and this has affected their understanding of its importance, and its use.  And that the respondents are ready to use it, if they know that it is vital in the course of enhancing business growth.  Nonetheless, the researcher recommended massive awareness campaign to the masses in order to create the requisite awareness of the uses of feasibility studies and the need to embark on it in order to grow business.  Finally, the researchers recommended further research in this area, especially in the topic “The Importance of feasibility studies enhancing Business growth and development’’.