The viability study is a subset of the feasibility study. It concerns the concept of risk in business and the survival of the business in the face of uncommon and unfavourable business environment.
The difference between a feasibility study and a viability study is that the feasibility studies confirm that the business is practicable while viability determines whether the business can stand any form of challenges and risk in the near future.
The purposes of feasibility study are to assess the practicability of the business, seek financial support from investors or banks, research on other sensitive areas of the business and to gather enough information as to why others succeed and why others fail.
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