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

Opening a Business in my Neighbouring AreaBackground to the BusinessWhen we were first set this project to actualize I thought andresearched into the many business I could have selected to generate in myneighbouring area. There were many options I could have chosen for myproject, after want consideration I managed to narrow down my finalideas into four businesses in which I could have chosen and were mostsuitable for my project. My ideas which I thought of were a restaurantwhich would sell alcoholic beverages, non alcoholic beverages andmeals, a clothing store for young adults, a beauty store which wouldsell cosmetics and other products similar, and finally a stationarystore which would sell school equipment, and many other stationary genuines. I thought about each(prenominal) option carefully and went through theadvantages and disadvantages to each proposal I had to decide from.To begin with I went through the advantages and disadvantagesof opening a restaurant in my neighbourin g area, if I were to open arestaurant in that respect would be a great deal of competition in the locationof Brighouse as at that place are several restaurants in Brighouse, one of mycompetitors 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, indoors 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 top(prenominal) class restaurantwhich also has a good status like La Romantica. Other restaurantswhich would not be classed as high competitors unlike the higher up areThe Golden Hind Fish Restaurant, The Auctioneer, Swankies, BengalBrassiere and Water Front Lodge. The advantages of having a restaurantsituated in Brighouse would be that there is a good market demand forrestaurants in Brighouse and that would produce the business profit.So I came to the conclusion to decide against the idea of opening arestaurant in Brighouse because of the competition, the competition istoo immense for a small restaurant to contend with. Also there aremore disadvantages than advantages.Secondly I could have opened a beauty store in the centre 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 leave alone mean that the government entrust have more money to spend inthe figure on public services such as the NHS, schools and the policeforce. Also for my business I will have to pay 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 negative issue, this could be due to an i ncreaseof demand in products, so prices would rise and less people wouldspend their money on them as their prices would be too high. Anotherbad issue could be that the government might have to spend money onimproving the environment due to the damaged which might be caused bymy retail outlet, some of these damages which my business could do are pollution such as waste pollution which would be my leaflets whichpeople could have dumped in the street therefore the council will haveto get more cleaners, also noise pollution by the straining pedestriancongestion which might occur.