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Lloyds TSB Location

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A07 Location Lloyds TSB is located 149 Commercial St Newport Gwent 149 Commercial Street Newport Gwent NP20 1TS Lloyds is located here because when a particular industry becomes associated with an area the local labour force develops skills appropriate to that industry. A new business in the same industry will therefore be able to recruit employees who have the right skills and experience it needs. If a business locates in an area where employment levels are high, it will have to compete with other businesses for the employees it needs. The business may have to offer higher wages and salaries, improved benefits and conditions, or a better working environment in order to tempt employees from other employers. ...read more.


Of the people in Newport who were of working age the employment rate was 70.7 per cent during the summer of 2004. Wage and salary levels Wages and salaries often form a large part of the expenses of a business. The general level of wages and salaries in an area can therefore be an important factor and influencing the decision where to locate. Locating in an area where the levels of wages and salaries is high can significantly increase the costs of s business, by locating in an area where the levels of wages and salaries is lower a business can keep its employee cost to a minimum. Proximity to customers and other businesses When Lloyds is located on the high street of Newport it is easy for customers to get to the bank. ...read more.


Demographic change Demographic change is change in the size, structure and distribution of the population. This affects the location decisions of the business in several ways. Businesses providing goods and services aimed at young people or health services for the elderly. Competition When Lloyds is deciding where to locate they should consider there competition. Lloyds have many competitors but they have to prevent other businesses from forcing them out of the market. A business that can compete successfully can keep there existing customers and attract new ones. Lloyds will have to price there products the same or very similar to the price of there competitors so they don't lose customers simply because the product is more expensive. Lloyds when deciding to locate should think about all these reasons so that they don't fail and stay successful. ...read more.

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