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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.
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Location FactorsBUSINESS PLAN
GENERAL FACTORS WHEN CHOOSING A LOCATION
Labour
Transport
Geographics
Economics
Market
Competition
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.
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.
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
ECONOMICS
The purchasing power of the community
determines whether they will be able to afford your goods
and services.
MARKET
Consider whether there is a need or a demand for your goods and services.
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.