- TELEWORKING- working from home using modern information technologies to remain in touch e.g. email
- LEAST-COST SITE- the georgraphical location which enables a business to minimise their costs
- BULK-REDUCING INDUSTRY- an industry in which the final product weighs a lot less than the original raw materials required e.g. steel plants
- BULK-INCREASING INDUSTRY-an industry in which the final product weighs a lot more than the original raw materials required e.g. brewing
- INFRASTRUCTURE- the network of utilities, transport links, education and communication networks found within a given location
- QUALITATIVE FACTORS- the subjective views and opinions of the business owner about where to locate
- INDUSTRIAL INERTIA- the resistance of an industry or business to change its location even though the reasons for its being there have now gone
1 of 5
- allows people to work from home
- lower costs
- increased convenience
- lower costs = more competitive within the market
2 of 5
small businesses need to keep their costs as low as possible to allow them to be competitive in the market...
The main costs for a new business are:
- Land Costs- South east (expensive) town centre or out of town?
- Labour Costs- available skills? wage costs?
- Transport Costs- close to suppliers or your customer base?
3 of 5
- Good transport links, high speed broadband, rail airport facilities as well as more basic needs such as car parking and bus routes are very important considerations to a business.
- A small business might choose not to locate in an area if there are persistent traffic flow problems or their suppliers cannot gain access to the site easily.
4 of 5
- Many small businesses are retailers and they want to ensure that plenty of people will pass their premises every day. Services need to make sure that theyre conveniently placed.
- Sometimes it is actually a good thing to locate near to your rivals as this will ensure that potential customers will visit this area.
5 of 5