Business Location

• Business owners consider several factors when choosing a location for their business, including proximity to the market, labour, materials, and competitors
• Proximity to the market is crucial for businesses like takeaways, corner shops, and hairdressers, while online companies and car manufacturers can sell their products anywhere
• Being close to high-quality labour or in areas attracting skilled individuals is important for businesses requiring specific skills like design engineers or solicitors
• For products like bikes (bulk-gaining), being located near the market is beneficial, while for products like bottles of smoothie (bulk-reducing), being close to raw materials helps reduce transportation costs
• Some businesses prefer to be far from competitors to access more customers without competition, while others like car dealerships and clothing shops benefit from being close to competitors as customers tend to shop around
• Business owners consider various factors when choosing a location for their business, including proximity to the market, labour, materials, and competitors
• 1. commerce is any transaction that takes place through the internet, while m-commerce involves transactions using mobile technologies like mobile phone apps
• Businesses utilizing e-commerce and m-commerce can choose cheaper locations as they don't need to be near customers, selling items online and using couriers for delivery
• Common examples of businesses operating online are clothing companies, designers, bloggers, and influencers
• Some companies opt for both an online business and a fixed retail premises, a common practice in retail industries like clothing shops
• New, small businesses often focus on e-commerce and m-commerce initially to keep costs low, benefiting from lower costs, flexible working hours, access to a larger market, and 24/7 operation
• Business owners consider several factors when choosing a location for their business, including proximity to customers, labour, materials, and competitors
• Retail companies generally prefer to be located close to customers, while service companies like train operators and taxi companies may need proximity to customers, but others like contact centres and web designers can be located anywhere
• Manufacturing companies often prioritize cheaper rent over proximity to customers, deciding on locations based on costs, especially for small businesses
• For manufacturing companies, the location decision may depend on whether the product is bulk gaining or bulk reducing, with proximity to the market or raw materials being a key factor
• Infrastructure, including efficient transport networks, is crucial for businesses as it supports economic activities like staff commuting, supply chain logistics, and product distribution
• Business owners consider several factors when choosing a location for their business, including proximity to customers, labor, materials, and competitors
• Retail companies generally prefer to be located close to customers, while service companies like train operators and taxi companies may need proximity to customers, but others like contact centers and web designers can be located anywhere
• Manufacturing companies often prioritize cheaper rent over proximity to customers, deciding on locations based on costs, especially for small businesses
• For manufacturing companies, the location decision may depend on whether the product is bulk gaining or bulk reducing, with infrastructure like transport networks playing a crucial role in facilitating economic activities