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Btec Business L2 Unit 1 P5

In: Business and Management

Submitted By toffeemackem
Words 1064
Pages 5
Characteristics of The Sutton Business Environment

In Sutton, there are multiple markets (Mass Markets being products that everyone buys, Product Markets being markets that control the supply and demand for those goods, while financial markets relate to buying and selling shares and stocks), from mostly the secondary and tertiary sectors. This includes banking (in the tertiary sector) and (manufacturing in the secondary sector). The Sutton area has the following markets in the secondary sector: * Manufacturing- Product Market * Construction- Product Market

While, the Tertiary sector has the following markets: * Marketing- Product Market * Retail-Mass Market * Banking- Financial Market * Transportation- Mass Market * Health Care-Mass Market (If health care is private) * Education- Mass Market (Also if it is private) * Administration * Tourism- Mass Market

In accordance with the Office of National Statistics, in the Sutton area, 11.29% of people aged 16-74 are economically active with part time jobs (they have jobs and contribute to the economy of the area), while 46.81% of people aged 16-74 are economically active with full time jobs. The average for people from London aged 16-74 with full time jobs is 42.64%, with the average for England being 40.81%. The unemployment rate in Sutton is 2.56%%, with the London average being 4.36%. The average household income per week is £700 with the London average being £840. This shows that while the average percentage of full time employment for Sutton is higher than the London average; the average household weekly income in Sutton is lower than that of London. The Sutton Council has established a variety of programme/ initiatives to encourage economic growth, including offering commercial property, advice for new businesses on renting commercial properties and help with searching for the right commercial property for a specific business. This service is provided by the Economic Revival and Regeneration Team, which is, as the name suggests, is responsible for increasing economic prosperity and growth in the area. Also in the Sutton area, is the Sutton Partnership (run by the Policy and partnerships Team) which brings together businesses from the area to share business strategies. Within the partnership, there are 6 themed partnerships: * Economic & Housing Renewal * Community Engagement * Children & Young People * Safer Sutton * Sutton Adults * Sustainable Living
Each individual partnership is responsible for a specific area. For example, the Community Engagement partnership is responsible for developing the community with help from businesses.

Also in accordance to the Office of National Statistics, in Sutton, the primary sector is composed of the following sectors * Agriculture, Hunting and Forestry (Employing 480 people) * Fishing (Employing 10 people) * Mining and Quarrying (Employing 112 people)
While, the Secondary Sector is composed of the following: * Manufacturing (Employing 7,006 people) * Construction (Employing 7,708 people)

The Tertiary Sector is composed of: * Electricity, Gas and Water Supply * Wholesale and retail trade * Hotels and Restaurants * Transportation, storage, communications * Financial Services (Banks) * Real Estate * Education, Health Care and Social Work * Public Administration and Defense

Quite clearly, the tertiary sector is the largest sector in the Sutton area. It is worth noting that the tertiary sector employs the largest amount of people, with the primary sector employing the least. The primary sector has been declining since the Industrial Revolution- before the Industrial Revolution, the Sutton area was known for its lavender fields. The land used by farms was taken up by factories, particularly along the River Wandle, which would become the industrial center for the South East. Following that, the massive urbanization of the area lead to what little land there is left being taken up by houses. The secondary sector rose during the Industrial Revolution, as previously mentioned. However, from the 1960s, the economy was drastically changed (for the first time since the Industrial revolution) - the tertiary sector would become the predominant sector in the area, and across the country. The rise of the tertiary sector was intensified in the 1980s, after many regulations on banking and finances were removed, causing a boom in mortgages and financial transactions. I think the sectors that are in the Sutton area are there due to history, and changing national economic policies and pressures from manufacturers from overseas producing products cheaply.

Legal Framework that affects businesses

Legislation- Equality Act 2010
Makes it illegal to discriminate someone because of their age, gender, disability (those who have been or are disabled), marriage and partnership, whether they are pregnant (in the case of women), race, what religion they believe (if they believe any religion) or Sexual Orientation.

Replaces the Disability Discrimination Act 2005, the Race Relations Act 2000, the Sex Discrimination Act, the Health and the Equal Pay Act
The act also covers children, on all of the grounds in the previous paragraph

Also under the Equality Act, men and women must be paid similarly if they are doing the same job, which was also defined under the Equal Pay Act.

What does the Equality Act 2010?

Also, under the Act, businesses and the public must attempt to encourage participation in ‘general life’ (in the case of those with disabilities) - getting a job, buying a house, going to cinemas/ recreational activities. Businesses also have to introduce rules to ensure that the laws are followed. Also, men and women are required to be viewed similarly, in terms of pay. (As previously defined by the Equal Pay Act)

Businesses are affected as the act covers employment and services.

As the Equality Act replaces the Disability Discrimination Act, the Equality Act makes it illegal for people to discriminate against people with disability. Also the Race Relations Act (which the Equality Act also replaced), made it illegal for people to show any form of discrimination against people who are of different ethnicities to them.

Health and Safety At Work Act

Provides safety standards for workers

What is the Health and Safety at Work Act?
Under this act, employers have to: * Decide what could harm employees in the workplace * Explain how they will be controlled * Give employees health and safety training free of charge * Provide toilet facilities, drinking water, washing facilities * Provide first-aid equipment to an acceptable standard * Have insurance that covers employees in case they are injured at work
Also under the act, employees must: * Follow the training given to them * Take reasonable care of themselves and others * Co-operate with employers with health and safety * Tell someone, if precautions put in place are inadequate

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