Business SL

Infographic: Factors in locating a business

Easy infographic that will help you in deciding where to locate your business in! Make sure you get these right before you continue with your business location!


  • Factor in locating a business:

    • Markets

      • Set up close to the customers

        • Sometimes there are special markets for special products
        • General marketplaces
      • With e-commerce start-up internet companies only require efficient distribution systems.(not  depend on physical market)
    • Labour Pool

      • Workers are critical to any business

        • Take account the type of workers available and balance this with the skills and qualifications needed for all the business operation
      • Consider level of unemployment in the area (possible savings in salary)
        • Higher unemployment level = more people want to be employed (even on a low salary)
    • Familiarity with the Area

      • New business tend to set up in places owners are familiar with

      • Advantage Disadvantage
        Business owner may have knowledge of local networks (suppliers and customers) Ignore more appropriate venues in other areas which could have better access to supplier or distribution network just because they are not familiar with the place

         

Leave a Reply