LOCATION

Determining the right

• One of the most important decisions the small business operator has to make is choosing the right location for his business. The location decision must be made before actual operations begin. The wrong location will make it very difficult for the small business owner to achieve his business objectives.

What is the Right Location?

• The right location refers to that one which will bring the highest possible benefits to the firm. The right location for one business, however, may be the wrong location for another firm and vice versa.

Criteria for Selecting a Business Location

• Population growth

• Average annual income of families

• Proximity to markets

• Proximity to supply of raw materials

• Labor supply

• Business climate

• Population trends

• Local laws and regulations

Criteria for Selecting a Business Location

• Competition

• Compatibility with the community

• Transportation

• Public services

• Police and fire protection

• Reputation of the location