**8. Preparing a good business plan**

In preparing a good business plan, it is crucial to find out whether or not (i) there exists viable market(s); or a new market platform can be created with easy for the product? (ii) How can the raw materials be obtained with ease? (iii) How can the skill labour be sourced with easy and at affordable cost? (iv) Is the necessary infrastructure readily available to facilitate operational activities? (v) The information on the costs of equipment, consumables and raw materials are known with absolute certainty. (vi) The sources of the expected income are known with absolute certainty, as well as been cost effective. (vii) There exists feasibility study report to guide the execution of the intended activities in the business plan.

Indeed, feasibility study report is the outcome of the preliminary investigation together with the analysis of the programmes outlined in a project to determine its viability, costs, resources requirements and profitability measures. Put differently, feasibility study report is a comprehensive details required for the business planning process. According to [7], feasibility study report communicates project's potentials and the liabilities associated with it within a given period. The report provides all the necessary guides for plan preparation from initiation to project execution. Furthermore, it gives direction to rational decision-making and provides whether or not to undertake the business. It also pertinent to note that no known fixed approach(es) to define feasibility study report exists. However, a good feasibility study report must be detailed, comprehensive and clear enough to assist the entrepreneur in making the right business decision.
