1.4.2 Business location

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What factor might influence a business's choice of location?: Proximity to market
Proximity to labor
Proximity to materials
Proximity to competitors
How does proximity to resources impact a business?: It affects the efficiency of obtaining necessary materials and services
What is a key consideration for a business when choosing a location near labor?: Accessibility for potential employees
Which businesses need to be particularly close to their customers?: Retail stores
Restaurants
What can be an advantage of a business being located near competitors?: Opportunities for collaboration
Customer attraction to the area
How does the nature of a business affect its location choice?: Different businesses have varying location needs
What is e-commerce?: Buying and selling goods through the internet
Why might a physical shop be beneficial?: Allows customers to experience products directly
How does proximity to materials affect a manufacturing business?: Reduces transportation costs and time
What impact has the internet had on business location decisions?: Allowed businesses to operate online
Reduces the need for physical premises
What advantage does a physical store offer over an online store?: Direct customer engagement
Immediate product availability
How does proximity to customers influence retail businesses?: Increases customer footfall and potential sales

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