Buisness locations

What determines business location?

Access to customers, access to factors of production, and minimisation of costs.

What are common location costs for new businesses?

Planning permission, purchasing or rental/leasing, refurbishment, business rates, labour costs, and transport costs.

Why is cost important in choosing a location?

New businesses often have limited capital and must balance affordability with potential success.

What social reasons can influence business location?

Managers may wish to live in a suitable environment for their families or stay close to their existing workforce.