Search for notes by fellow students, in your own course and all over the country.
Browse our notes for titles which look like what you need, you can preview any of the notes via a sample of the contents. After you're happy these are the notes you're after simply pop them into your shopping cart.
Title: Importance of business location
Description: Concise notes on how location is important for businesses.
Description: Concise notes on how location is important for businesses.
Document Preview
Extracts from the notes are below, to see the PDF you'll receive please use the links above
Business location
With the development of the internet the decision for many firms as to where to locate has
become more complex
...
The
traditional model of a high street branch has been replaced for many by the use of the cloud
and an online presence
...
The cost of setting up a new business can be high and new firms often have limited amounts
of money available
...
-Refit of store
-Labour costs of staff
-Rental/ leasing costs
-Transport costs
-Planning permission
New firms are unlikely to be able to locate in their optimal location as finances will be limited
...
The market and competition:
The market is where buyers and sellers meet
...
This means that a physical location is often required
...
Footfall is a measure of the potential number of customers who pass your
location during a given time period
...
Often a manufacturer will insist that suppliers are located within a certain
distance/ travel time from themselves
...
High speed broadband for
example is essential for certain firms, whilst other maybe reliant upon
imports and therefore need good transport links to ports and airports
...
g
...
If an area has a local specialist
such as Bristol with engineering and aeronautics, this might
attract other companies in this industry
...
Within the UK the cost of the labour also varies
...
Government influence:
Are the government offering incentives for you to locate in a
certain area e
...
grants or tax breaks
...
g
...
Governments will often
give permission for large scale developments and provide
help with labour force recruitment and training to attract new
business to an area
...
The owner might also wish to remain loweer to their existing workforce and not want
to force them to relocate to a more competitive location
...
Which means that they locate wherever est suits the needs
of the business at that particular moment of time
...
Factors influencing international decision include:
-Can they benefit from maximising economies of scale
-Falling cost of international transport and distribution
-Tariffs, quotas and customs unions
-International wage levels
-Reduced bureaucracy e
...
less strict labour laws
Evaulation
-Ethical issues (UK workers, payment of low wages to overseas workers)
-Bad publicity
Quick fire questions:
1) State 3 things a new business has to consider when deciding upon a new location
...
2) Why do new businesses often fail to set up in their optimal location?
New businesses often have lots of financial pressures so cannot afford to locate in their
optimal location
...
4) Give 2 ways that governments can assist with the location of new businesses
...
Title: Importance of business location
Description: Concise notes on how location is important for businesses.
Description: Concise notes on how location is important for businesses.