Business location (OCR GCSE Business): Flashcards
📚Flashcards
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11 cards from this deck
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Practise the cards
11 cards from this deck
Main factors in choosing business location
Main factors in choosing business location
Costs, proximity to market/labour/materials, govt influence
Costs that vary by business location
Costs that vary by business location
Land, premises, and labour costs
How lower costs benefit a business
How lower costs benefit a business
Improve profitability and competitiveness
Why locate close to target market
Why locate close to target market
Ensures quick and efficient service to customers
Where retail stores typically locate
Where retail stores typically locate
Shopping centres/high streets with high footfall
Where service businesses like hairdressers locate
Where service businesses like hairdressers locate
Near residential areas for easy customer access
Why access to skilled labour matters
Why access to skilled labour matters
Enhances productivity, reduces recruitment costs
Example: where UK tech firms locate
Example: where UK tech firms locate
Silicon Fen, known for skilled labour
Why locate near raw materials
Why locate near raw materials
Minimize transport costs, ensure steady supply
Where food processors locate and why
Where food processors locate and why
Near farms/fishing ports for lower costs & freshness
Government location incentives offered
Government location incentives offered
Grants/tax incentives in enterprise zones