SWOT analysis stands for Strength, Weakness, Opportunities and Threats. SWOT analysis is important and we have or we need to use this in order for us to analyse deeply what are we going to enter. We have to know the strength and weakness of ourselves in order for us to evaluate if we are really suitable for that particular business. Also, we have to know the opportunities for us to grab it because opportunities and coming once. Lastly the threat, we have to know the threats in order for us to be ready. We can't avoid threats but we can prepare for it. SO all in all SWOT analysis is important for us to evaluate or understand everything before entering in that particular business.