business location Flashcards
(7 cards)
what is business location
where the business operates
7 Factors business needs to think about for location
-costs
-infrastructure
-pop density
-proximity to suppliers
-accessibility to customers
-business rates
-sufficient space for future growth
Why is cost important
new businesses will have limited capital for planning permission,rent:
/purchase of propert so may not be able to choose ideal location fue to high costs, may relocate oncr established a customer base and capital increased
Why is accsessability and proximity to customer important
market where buyers and sellers meet, should be easy access for customers large busiensses will spend large amounts of capital on driving customers to their locations, competition nearby can also increase custijer interest wnd higher sales
Why is infrastructure important
roads,rails, shipping also including electronic communication em commerce based wil have a different outlook on infrastructure
Why is labour production important
costs of labour, availability of labout and skills
Why is gov grants and incentives important
low cost and suitable land resources incentives such as tax breaks and help with recruitment wnd training
