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The effects of business on the community

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Task 9- The affects of my business on the company Positive and Negative effects on the society The impact of my business on the community can consist of both positive and negative effects. Starting with positive, having the only shop in Walthamstow and the surrounding areas, my business is offering something new to the community. People do not have to struggle in finding separate businesses that offer the same services I do in a package or separately in my shop. Furthermore, with my new business will be creating new jobs which will be available to anybody seeking for a job as it is very much needed in a time of a financial crisis (recession). Also, people in working for my business will be able to generate a feasible income, thus people will be paying tax which will be given to the local government. This will evolve the community into a safer, cleaner and more enjoyable place to live in, as it contributes to community centres, rubbish collections, fire brigade and much more. ...read more.


With time Economies of scale will be introduced to my business which means that the unit cost of production is to fall in size as my business grows. As my business is beginning to raise awareness and finance I will consider lowering prices if my business starts to grow in size and value. Furthermore, with no competition I can establish myself in the area and be the first one to open such a shop in the area and surrounding then that means my business will be well known, so if new competition was to open up then I would have the upper hand as I would have the experience and the name credibility so that people would come to me first then the new competition. On to the negative aspects, without competition I cannot save money on infrastructure as with competition we could speak to each other and agree on sharing some services such as delivery, cleaning etc, this could trigger a positive multiplier effect and reduce cost by a huge margin. ...read more.


Also, I could cut energy usage by using electrical appliances that don't use a lot of energy and using energy efficient light bulbs than the normal ones as well. Solving problems related to no competition will be accomplished by firstly, kick starting my business and making a success so that someone else will consider establishing their own business with the same idea as they can see that my business is doing extremely well in the market and so that they can have a share of the profits and have some competition which could befit my business in the following ways. Firstly, it can be a great way to save money by sharing infrastructure this way we don't have to spend so much of our profits on bills, for material like travelling, communication and others along the same line, which then for both our business to flourish the money saved can be used to expand our business. Furthermore, with competition we can witness the positives and negatives of each others business so that we can improve on our mistakes and make my business a greater force in the market. ...read more.

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