In this assignment I will be looking at local and national factors that may affect a business this is important because laws are always changing, businesses need to ensure that they remain aware of ever changing local factors. Information is important so that they can run the business as effectively as possible.

In this section I will be discussing the importance of local and national factors.

Local factors

Local factors are factors which effect a geographical location local factors take into consideration the location, local resources, local competition and local customers to a business within the location

National factors

National factors are factors which a whole nation is governed by. National factors are usually set by governments that are in power. National factors look at the cost of borrowing, loans, taxation, inflation, employment and exchange rates

In this section I will be discussing local factors which could affect a start-up business and business environment

Location is the place where a firm decides to site its operations. Location decisions can have a massive impact on costs and revenues there are a few things you need to think about these are

    • Location-is the location convenient for customers?

    • Staff-are there sufficient numbers of local staff with the right skills and training willing to work at the right wage?

    • Support services-are there services offering specialist advice, training and support?

    • Cost-how much will the premises cost? Those situated in prime locations (such as city centres) are far more expensive to rent than edge-of-town premises.

I will be focusing on the borough of Hammersmith and Fulham as it is where I intend to set up my business for variety of reasons as   it is an easily accessible area with a lot of people coming through it each day.

The statistics show that there are more young people and single parent families in the area with 91% of...