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The Business Plan Workbook, 7th Edition by Robert Brown, Paul Barrow, Colin Barrow

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Assignment 5

Competitors

Researching the competition is often a time-consuming and frustrating job, but there are important lessons to be learnt from it. Some of the information that would be of most value to you will not be available. Particularly hard to find is information relating to the size and profitability of your competitors. Businesses, and particularly smaller businesses, are very secretive about their finances. Because of this, you may have to make estimates of the size and profitability of various firms.

Research on competitors

When you begin your research, it is crucial that you make an accurate determination of your competitors. Remember, just because someone sells a similar product or service, that does not necessarily make ...

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