Political Stability
- Pages: 2
- Word count: 301
- Category: Consumerism Money Politics
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Order NowPolitical stability – knowing where you stand as a business with regard to what the government aim to do. This will give you more certainty. A change in government could create uncertainty. The Coalition government are trying to encourage and support small businesses as they see this as a key way to boost the economy Economical
Changes in the level of consumer spending. If recession, consumers will generally spend less therefore parents might choose not to send the children on coaching courses. Changes in interest rates will affect the business. High interest rates means any money banked will gain more interest. High interest rates also mean any loans will be more expensive to pay back. VAT can affect business as will affect your pricing.
Unemployment high, people will generally have less money to spend on luxuries. Business taxes could increase which again will eat into your profits. Social
If a major event running such as Olympics or World Cup children may be more inspired to participate in sport. Increase in number of obese children
Increase in number of females taking part in sports that were traditionally played by males e.g. rugby, football ect Increase in number of ethnic groups
Increase in number of disabled people taking part or wanting to take part in sports With all these social changes taking place we could exploit these areas by targeting out courses at these groups Technological
Keeping any IT systems up to date can make your business run smoother for example a modern, sophisticated booking system can make booking children onto courses much more efficient. Keeping up to date with advancements in sports technology
Legal
CRB – making sure employees have been checked
Comply with health and safety law – correct use of equipment, risk assessments, first aid (needs to be updated)
