Market Research

Market research and setting up a business

Market research is an important step and a key decision making tool. Conducting market research involves gathering, analysing and evaluating information to help you formulate your business goals. Some questions you should consider when setting up a business are:

  • What product/service will my business provide?
  • Is my business idea feasible?
  • Is there a market for my product/service?
  • Who are my competitors?
  • What skills do I need to successfully run a business?
  • Do I have the financial capacity?
  • What difference will I bring to the market?
  • How will I protect my idea?

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