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What is a business location?
A business location is defined as a place or structure occupied by a firm to run its operations. This includes any structure or establishment used in conducting a business.
What are examples of good business location?
Starbucks places its coffee houses in high-street, high-visibility locations in various settings, including downtown and suburban areas. You can also find Starbucks in office buildings, university campuses, and off-street highway locations.
Why is location important for a business?
Choosing the right business location is vital to business operations and success. A good location helps to :
Attract and retain workers with the required skills and talent.
Provide a balance between business costs and business revenues.
Offer the necessary infrastructure for your business growth. These infrastructures include a good transport system, gas pipes, and road networks.
Position your business to fully benefit from government policies, grants, or loans.
Ensure the smooth running of your business operations.
Provide an ideal location to get enough traffic for your business or to keep your business confidential.