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Plant Location

In: Business and Management

Submitted By anujachangrani
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STARTING A NEW BUSINESS: Starting a business in a new country involves a lot of risk. Many entrepreneurs invest and risk their personal savings in their businesses. Regulations for new businesses vary across countries and in some cases the cost of business registration can become prohibitive. Starting a new business involves many hurdles, but excessive bureaucracy should not be one of them.
POLITICAL STABILITY: Political trends can impact any level of society, be it individuals, families or organizations. Trends in policies set by government agencies and leaders can affect the legal framework within which a business operates. Being aware of the political conditions at the national and local levels is a very important part of planning and strategy development for a business. What happens in the politics of your country and your neighboring countries influences your business to a very large extent. Changes in the government policies may affect your business positively or negatively. Unstable political conditions where government policies change frequently discourage business, as investors fear for the safety of their investments. Government support to economic development through infrastructure development, facilitation, industrial parks, and the like all encourage entrepreneurship.

MARKET AND COMPETITION: Sun Tzu, the ancient Chinese philosopher and military strategist, famously said: "If you know your enemy and know yourself, you need not fear the results of 100 battles." Before you set up a business in a country you need to know whether there exists a market for your product in that particular country. Once you know your target audience you will know how to market your product in a way that speaks to them. You need to know who you are going to sell to, what they need and who else is supplying the same goods or services as you. You should understand the size,...

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