A consultation session organized by SMEs Support Center on the sidelines of Biban Forum 2025, hosted by the Small and Medium Enterprises General Authority “Monsha’at,” discussed the importance of feasibility studies in ensuring the success of entrepreneurial ventures.

Wafaa Alotaibi, consultant at the Small and Medium Enterprises General Authority “Monsha’at” and faculty member at Jubail Industrial College, emphasized that feasibility studies represent a fundamental pillar for the success of entrepreneurial projects and the reduction of investment risks. She noted that neglecting customer needs while focusing solely on financing aspects is among the most common mistakes made by entrepreneurs.

Alotaibi explained that the success of any project begins with identifying a real market problem and offering a product or service that addresses an actual need or provides an innovative solution. She added that feasibility studies enable investors to base their decisions on scientific foundations, including market and competitor analysis, identifying strengths, estimating operational and technical costs, and determining the required financing through accurate financial analysis.

She further noted that feasibility studies rely on three main pillars: the marketing aspect, which identifies target audiences and competitors; the operational aspect, which defines operational requirements and resources; and the financial aspect, which analyzes costs, revenues, and cash flows. She stressed that balancing these components contributes to building realistic and sustainable projects.

She also highlighted that Biban contributes to raising awareness about the importance of feasibility studies through consultation sessions and specialized workshops, alongside Monsha’at initiatives such as Monsha’at Academy and various empowerment and training programs aimed at supporting entrepreneurs and equipping them with the tools needed for project success and growth.