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a. Economic environment- What is the local economy like? When making a statement,back it up with facts relating to 2020 & 2021. When determining the economicenvironment where you will operate your business, consider using the documents inour D2L class drop box. Listed in Course Materials, Contents, Class ExamplesInformation. See "US & SC Economic Report," and "State, County, City DemographicSites." You should also consider reviewing links in the city, county and state whereyou plan to operate your business. Google Charleston economy or something similar& youll get lots of data.b. Social environment what does society think of your product? Pizza? Carb heavy,but acceptable in a vacation environment (not so much in a hospital canteen). Stripperbar? Likely not well received (by everyone) in downtown Summerville.c. Competitive environment you will likely have many, often 5-0 to 100.List all within a four-mile radius for food establishments, or an areadiscussed with me for non-food businesses. Google Earth (free download) letsyou map roads (tools, ruler).List direct and indirect competition. For a semi-casual restaurant, McDonalds& the deli section in the next door Bi-Lo would be indirect competition. For ahotel, B&B's and www.airbnb.com are indirect competition. For a childcareoperation, nannies & a baby sitter association would be indirect competition.d. Legal environment what licenses do you need to operate? City, county & statelicense? DHEC approval? Alcohol? Servesafe certificate?
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