The location of your business can be an important factor in its success. When choosing for a location, carefully assess the right environment for your business.

When starting out, you'll need to decide what is the comfortable location to conduct business. Unless you're a completely home based business, this will require buying or leasing a business premises. Each business has different requirements and it's important to consider your business needs and priorities when deciding on the type and location for your business premises.

For example, you can choose a location that may be perfect for your business because:

• your suppliers or distributors are nearby
• it's a known centre for the products or services you are providing
• many of the people who work or live in the area are your business' target audience
• the costs of buying or leasing in the area are affordable and meet the needs of your business
• it's a growing business hub with many opportunities in the near future.

Tips when choosing a location:

• Look different locations. Gather information about the demographic and economic characteristics of the areas you're interested in.
• Look your competitors. Find out where they are located and the type of premises, they use to sell products and services.
• Other businesses in the area. Other local businesses that might complement your business' product or service.

Think about the current and future needs of your business. Make sure you've got an up-to-date marketing plan and that your chosen location is in line with your business goals and objectives.