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Choosing a business location

  One of the top considerations new business owners face when preparing where to operate is location. Location is one of the most critical decisions as it can determine whether customers will enter your store or shop with your competitors. There are many factors to consider when determining location such as demographics, visibility, supply chain, competition, budget and legal and environmental obligations. Here are some tips to help you decide on the right business location: Determine what your business requires Understanding the key demographics of your target market can provide insight into where your customers live and prefer to shop. As most businesses will choose a location that provides exposure to customers, it is worth considering visibility and accessibility when deciding on a location. Other considerations include: Competition: Are neighbouring businesses competing or complementary? Future growth: Do you plan to expand or grow in the future? Will you have extra space if neede