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Environmental Factors
Environmental factors can be explained as identifiable elements within the cultural, economic, demographic, physical, technological or political environment which impacts the growth, operations and survival of an organization. Environmental factors can be both internal as well external for the business. External factors can include economic and technological factors whereas; internal factors may include value system, objectives or internal relationships of a business. In this portion of your business plan, you will consider some of the following points:
Will weather play a role in business operations?
Is your company seasoning?
How will you handle the following:
Recycling
Traffic
Ethical issues
Sanitation practices
Parking availability
What are your social responsibilities?
What are some economic issues (such as Covid-19)?
Consider the following:
Cultural factors
Economic factors
Demographic factors
Physical factors
Political factors
Technological factors
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