Task 1 Essay

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Task 1 Local business A local business is a business which provided goods to the local population in the area, where the shop is. An example of a local shop would be an off license shop in Redbridge; Nisa Local. Advantages | Disadvantages | | Small businesses usually have a lower budget than large companies; therefore they are less able to put money towards advertising their business. This limits their visibility. | Small businesses rely on word-of-mouth to help advertise their businesses in the community they serve in. Businesses like this could also take the help of social networking sites such as Facebook and Twitter to write reviews about their experiences. This would be done for free and would also publicise the business. | As a small business has less staff than a large business, they are often limited with the skills their staff has. As a result, they are not able to achieve large scale events without over working their staff. | | People who own small businesses often spend a lot of time running day to day aspects of their time on their business that they very often forget to advertise the business. | National business A national business is a business which is only in one country, it is also known as a firm. National businesses are usually is big towns and cities. An example of this type of business is Barclays. An advantage of a national business would be that most people in the country would know the business therefore more people will use it which will lead to a better profit figure. However, a disadvantage of a national business would be that because the business is only going to be in one country, International business An international business is a business which is spread over in more than one country. An example of this type of business would Shell and Marks and Spencer. Public sector A business in the public sector

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