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Funding Ideas

Feasibility Studies

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What is it?

If you have an innovative proposal but you want to learn more about the pros and cons before you commit your own funds, or indeed try to access new sources of funding, it is a good idea to use an external consultant to carry out a feasibility study.

The study will enable an independent person to research, review and evaluate your ideas. They will be able to give you an objective appraisal of the proposal and this can be extremely useful in helping you to drive forward the innovation in the future both with your organisation and with potential funders.

It may often involve identifying potential stakeholders and partners in the project as well as potential funding bodies. Typically it will also involve detailed costings and cash flow forecasts.

Why is it useful?

Stakeholders and funders want objective evidence that your proposal will work in practice. They want a clear understanding of the strengths, weaknesses, risks and of the potential of the proposed venture BEFORE they commit to the project.

Naturally the bigger the proposed idea the more detailed and thorough the feasibility study has to be.

It can be very useful to have a dialogue with the potential stakeholders in the project prior to the design stage - by consulting them you actually engage them in the new venture even before it's begun and give them ownership and even shared responsibility for its success!

Who is this suitable for?

Any manager who is considered implementing a new product or service.

When is this available?

We are happy to discuss your needs and ideas at any time.

It is important to allow enough time for a feasibility study which will stand up to external scrutiny, especially if it involves stakeholder consultation. Please contact us before you apply for any monies to carry out the feasibility study you have in mind and we will be happy to advise you without obligation.

How much does this cost?

We charge a standard daily rate plus travel and expenses. The number of consultancy days will depend on the nature of the feasibility study and the information you want contained in the final report.

How can I find out more about this product or service?

For further information please contact us directly by email or by phone. We look forward to talking to you and discussing your needs.

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Telephone: 08456 434 686