1.4.2 Business Location

• The right business location enhances profitability and market reach
• What does "accessibility" refer to in the context of business location?

  Ease of reaching the business
• A business located along a main road with high foot traffic has better visibility.


  True
• Order the factors affecting business location based on their primary impact:

  1️⃣ Infrastructure

  2️⃣ Labor Market

  3️⃣ Proximity to Customers/Suppliers

  4️⃣ Government Incentives

  5️⃣ Competition
• Businesses may choose central locations to be close to their customers
• Which government incentive can attract businesses to a specific location?

  Tax breaks
• The availability of skilled workers is a key factor in the labor market.
• What is one example of a government incentive that may attract businesses to a specific location?

  Tax breaks
• Match the type of business location with its primary advantage.

  High Street/Town Center ↔️ High visibility

  Industrial Park ↔️ Lower costs

  Online ↔️ Global market access
• Order the following factors affecting business location based on their direct impact on operational efficiency.

  1️⃣ Infrastructure

  2️⃣ Labor Market

  3️⃣ Proximity to Customers/Suppliers
• The geographical place where a business operates is called its location.
• High foot traffic in a visible location can boost brand awareness.
• The availability of skilled workers is a key factor in the labor market.
• A business location refers to the geographical place where a business operates and conducts its activities.


  True
• An industrial park offers lower rental costs and specialized infrastructure
• Why is the choice of business location crucial for a company?

  It impacts accessibility, visibility, and cost
• Why is proximity to customers and suppliers important when selecting a business location?

  Reduces transportation costs
• Evaluating different business locations requires considering accessibility, visibility, and cost-effectiveness.


  True
• An online business can reduce overheads and gain global market access.


  True
• Industrial parks require adherence to industrial zoning and environmental permits for manufacturing.


  True
• Evaluating legal and environmental implications is crucial for ensuring sustainable business operations.

  True
• What does the term "Business Location" refer to?

  Geographical place of operations
• Match the location type with its advantage:

  Industrial Park ↔️ Lower rental costs

  Online ↔️ Global market access
• Why is "visibility" important for a business location?

  Increases brand awareness
• What are the three key factors that businesses consider when choosing a location?

  Accessibility, visibility, cost
• Businesses always choose locations near their competitors to gain market share.

  False
• An online business location provides global market access and reduced overhead costs.

  True
• What is one key advantage of locating a business in an area with good infrastructure?

  Facilitates operations
• Order the following types of business locations based on their visibility and foot traffic from highest to lowest.

  1️⃣ High Street/Town Center

  2️⃣ Industrial Park

  3️⃣ Online
• What is the term for the geographical place where a business operates?

  Business location
• The cost of a business location has no impact on its profitability.

  False
• The accessibility of a business location refers to how easily customers can reach it.


  True
• Considering government incentives is crucial for selecting a profitable business location.

  True
• Businesses may choose to locate near or away from competitors depending on their strategy
• What are the advantages of a high street/town center location?

  High visibility and foot traffic
• Order the following business locations by their primary advantage:

  1️⃣ High Street/Town Center: High visibility

  2️⃣ Industrial Park: Lower rental costs

  3️⃣ Online: Global market access
• The availability of skilled workers is a key consideration in the labor market when choosing a business location.


  True
• Match the business type with its preferred location:

  Retail store ↔️ High street location

  Manufacturing business ↔️ Industrial park
• What is a primary advantage of an industrial park location?

  Lower rental costs
• High street locations must comply with local zoning laws and obtain necessary permits