before starting their business. Put simply, market research involves evaluating how likely a product or service is to be received well by its intended customers.
Startups can face certain advantages and disadvantages depending on the nature of their industry as well. According to the Small Business Funding lending agency, It is also important to identify potential sources of funding or support in advance of any immediate need. This can help prevent running into unsustainable growth. Many government programs exist to help startups survive, including state and federal grants, some of which are designated for certain demographics and industries.
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