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Summary Business location
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Summary for business locaiton.
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Business locationFactors that need to be considered when locating a new business.
Factors to consider when deciding on the location of the business:
Costs
Infrastructure – access to deliveries, access to road networks
Proximity to the market
Competitor location
Availability of labour – cost of labour, skills of labour, accessibility of labour
Type of business – depending on the type of business, you need to locate the business in a
suitable place.
Costs – location costs include:
Planning permissions
Purchasing or rental/leasing
Refurbishment
Business rates
Labour costs
Transport cost
Proximity to market – how close you are to the market. You would need to have access to
the road network for quick and easy deliveries.
If you are close to the market:
Advantages – attract customers and can react quickly to changes in demand and consumer’s
needs.
Disadvantages – obtaining goods from suppliers is more time consuming and expensive.
Competitors
Advantages – gives customers greater choice
Disadvantages – Too many options can put customers off and businesses will compete for
the same customers which could reduce your profits. Also, the new business may have to
locate in a less lucrative area that may not attract customers the business needs to flourish
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