GCSE EDUQAS Business - 1.9 Business Location & Site

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Location

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Refers to the geographical area location that a business might be found such as a town, city, region, or country.

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Site

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Area within a geographical location that is concerned with more specific factors such as accessibility and footfall.

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Market Proximity

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Being close to the target customers.

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Bulk Increasing

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The good being produced is larger or heavier than the materials being used to make it, so it is cheaper to locate near customers.

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Raw Materials

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The basic material from which a product is made.

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Footloose

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An industry which is not tied to any particular location or country and can relocate to another place.

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Infrastructure

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Structures and facilities e.g., buildings, roads, utilities that are needed for the operation of a society or enterprise.

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Footfall

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The number of people passing close to the business. These are potential customers to the business.

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Competition

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The activity of striving to gain support/sales from someone else competing against you.

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Rent

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The cost a business pays to occupy a property for an office, retail space, storage space, or factory.