External Factors 0.0 / 5 ? Business ManagementExternal factorsNational 5None Created by: lilkmd7Created on: 26-04-22 11:14 For example, new legislation political 1 of 13 For example, inflation and unemployment economic 2 of 13 Changes in taste and fashion or the increase in spending power of one group, for example, older people Social 3 of 13 For example, being able to sell goods online or using automation in factories technological 4 of 13 For example weather conditions affecting sales or production and growing interest in being ‘green’ , for example by recycling environmental 5 of 13 The impact of a rival firm which may have a similar product or which may lower its prices competitive 6 of 13 Being without paid work unemployment 7 of 13 The lowest Minim wage permitted by law national minimum wage 8 of 13 The rise in prices over a year Inflation 9 of 13 The price of one country’s currency compared to another country’s currency Exchange rate 10 of 13 Eu European Union 11 of 13 A tax on the properties from which businesses operate Business rates 12 of 13 Tax paid to the government on the profit made by a company Corporation tax 13 of 13
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