In 2006 there were 2 million entrepreneurs in the UK who were actively engaged in starting a new business. Many of these did not get off the ground and of the businesses that started, many will fail. Many new businesses have a serious flaw which is likely to mean failure or serious under performance. There are generally three main areas where the business plan is flawed in relation to the industry, the market and the entrepreneurial team.
Many new venture planning modules assume a business idea and then focus very quickly on pulling a plan together. However, this module will focus on assessing the feasibility of the idea prior to preparing and writing the business plan and will provide the opportunity to ensure that 'fatal flaws' are identified and the idea can then be reshaped or modified to be more successful or maybe even abandoned before its too late.