location factors b usiness p lan. g eneral f actors when choosing a location labour transport ...
DESCRIPTION
L ABOUR Some businesses need large numbers of labourers or labourers with a specific skill- the business has to be where adequate labour or skill are located.TRANSCRIPT
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Location FactorsBUSINESS PLAN
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GENERAL FACTORS WHEN CHOOSING A LOCATION
Labour
Transport
Geographics
Economics
Market
Competition
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LABOUR
Some businesses need large numbers of labourers or labourers with a specific skill- the business has to be where adequate labour or skill are located.
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TRANSPORT
Because transport costs are so high, it is better for some goods to be located close to where they will be sold.
For example: bricks are quite heavy to transport which means that they need to be produced close to the market where they will be sold.
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GEOGRAPHICS
Some goods and services must be located close to where they are needed.
For example: a surf shop should be close to the beach
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ECONOMICS
The purchasing power of the community
determines whether they will be able to afford your goods
and services.
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MARKET
Consider whether there is a need or a demand for your goods and services.
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COMPETITION
Consider whether there are other businesses in close proximity to you, who provide similar goods and services to yours.
This can be a positive or a negative factor.