Opening a Business in My Neighbouring Area Essay -- Business Managemen

Opening a Business in my Neighbouring AreaBackground to the BusinessWhen we were first round this project to complete I estimation andresearched into the many business I could cast off selected to open in myneighbouring area. There were many options I could have chosen for myproject, after long consideration I managed to narrow bug out my finalideas into four businesses in which I could have chosen and were intimatelysuitable for my project. My ideas which I thought of were a restaurantwhich would sell soaking beverages, non alcoholic beverages andmeals, a clothing bloodline for young adults, a sweetheart parentage which wouldsell cosmetics and other products similar, and finally a stationarystore which would sell school equipment, and many other stationarygoods. I thought about each option carefully and went through theadvantages and disadvantages to each end I had to find from.To begin with I went through the advantages and disadvantagesof opening a restaurant in my neig hbouring area, if I were to open arestaurant at that place would be a great deal of competition in the situationof Brighouse as in that location are several restaurants in Brighouse, one of my challengers if I were to open up a restaurant in Brighouse would be LaRomantica, this restaurant is a successful Italian restaurant whichhas been open for a few years, within this period of time it has builtup a good reputation to the people in and around Brighouse. Anothercompetitor is the Brooks restaurant this is an upper class restaurantwhich also has a good status like La Romantica. Other restaurantswhich would not be classed as high competitors unlike the above areThe Golden hind(prenominal) Fish Restaurant, The Auctioneer, Swankies, BengalBrassiere and Water Front Lodge. The advantages of having a restaurant find out in Brighouse would be that there is a good market have forrestaurants in Brighouse and that would produce the business profit.So I came to the conclusion to decide aga inst the idea of opening arestaurant in Brighouse because of the competition, the competition is similarly immense for a small restaurant to contend with. Also there aremore disadvantages than advantages.Secondly I could have opened a beauty store in the bosom ofBrighouse much like the nation-wide store Boots. If I were to open abeauty store in the centre of Brighouse there could be many advantag... ... income support and job seekers allowance from the government,which go out mean that the government provide have more money to put down inthe budget on public go such as the NHS, schools and the policeforce. Also for my business I will have to hand taxes on my profitswill again go to government services and the improvement of publicsectors in the UK. Also other people will be paying taxes on myproducts, which will be used by the government to be used on publicservices in the UK. But my business could create inflation in thecountry, which is a negatively charged issue, this cou ld be callable to an increaseof demand in products, so prices would go on and less people wouldspend their money on them as their prices would be too high. Anotherbad issue could be that the government efficiency have to spend money onimproving the environment due to the damaged which might be caused bymy retail outlet, some of these restitution which my business could do are contaminant such as bolt pollution which would be my leaflets whichpeople could have dumped in the street hence the council will haveto get more cleaners, also noise pollution by the heavy pedestriancongestion which might occur.