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Nature of Buisness

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Submitted By KodiCarter
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“How do internal and external influences have an impact on business opportunities in NSW”

Within Australia Specifically NSW, location, legal outlines and rules ,technology, proximity, social influences, geographical location, business culture and competitive situations are few of many influences that impact businesses and there opportunities. These influences whether they are positive or negative create oppurtunities for a business.

location for a business has an affect on its opportunities as business that locates itself in populated area will benefit from exposure, More over, locating a business should be located in areas that are accessible for transportation. Not placing your business in good locations will have a negative affect on business and its revenue.

Marketing influences a business therefor having an impact on its opportunities. The way a business decides to market itself can affect whether a customer wants to purchase its product over other competing businesses.
By marketing a business well it will become well known influencing customers to buy its product slowly expanding the profit the business is making. Thus creating more business opportunities.

Legal outlines and rules are essential for owning a business as businesses aren’t able to run just as they wish. With new laws passing every year, businesses have to be carful as they can be punished and suffer severe penalties if they don’t abide by government rules and regulations. This has a positive impact on all businesses and opportunity as it leaves all on a legal level playing field leaving competition fair for all.

Competitive situations for a businesses are essiential as it encourages businesses to strive for higher goals and achieve higher than other competitors. This particular influence is useful for both the customer and the product makers. It encourages business to make

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