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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