To ensure startups have enough financial resources to execute business launch and whether the business idea is worth pursuing, a preliminary financial assessment should be done. Preliminary Financial assessment includes 3 elements:
- TOTAL START-UP CASH NEEDED
- FINANCIAL PERFORMANCE OF SIMILAR BUSINESSES
- OVERALL FINANCIAL ATTRACTIVENESS OF THE PROPOSED VENTURE
- Get Knowledge, YouTube (2017, Sept 6). Feasibility Analysis | Entrepreneurship (Chapter 3). (07:15-09:00)
Retrieved from: https://www.youtube.com/watch?v=IZcpCfskoys (Last accessed 2020, Jan 30)
- Barringer, B. R., & Ireland, R. D. (2016) Entrepreneurship: Successfully Launching New Ventures (5th ed., pp. 89-92). Pearson.