The potency of feasibility analysis on business survival in Cross River State Southern Senatorial District, Nigeria

Abstract

This study seeks to evaluate the relevance of feasibility analysis on business survival in Cross River State Southern Senatorial district. The survey research design was adopted for this study. A population of 82 entrepreneur/owners of sachet water manufacturing companies spread across the seven local government areas of Cross River State Southern Senatorial district was used. The variables used for this study were economic analysis, staff/ personnel as well as demand and market analysis. The study found that economic analysis of feasibility enhances business survival and is statistically significant. Also, Staff/ personnel analysis of feasibility enhances business survival and is statistically significant. And as well, market and demand analysis improves business survival and is statistically significant. It was recommended that business entrepreneurs in Cross River State Southern Senatorial district should effectively carry out an economic analysis of feasibility to maximize the available resources within its disposal, hence avoiding liquidation and as well proper workforce planning should be taken into account before the take-off of any business operation for appropriate manpower hiring.

Keywords: Feasibility Analysis; Business Survival; Economic Analysis; Staff/ Personnel Analysis; Market and Demand Analysis