PEST Analysis for video game store that i'm opened Term Paper

PEST Analysis for video game store that i'm opened - Term Paper Example It should be noted though, that political environment does not necessarily imply the rivalry between top leaders. Instead, it is refers to how tax policy, labor-law, restrictions pertaining to trade are carried out. London, Canada is one of the best places in terms of political stability due to its setting. As far as the real politics is concerned, there has not been a case of political unrest in the city for a very long time. Concerning the taxes, the central government and the local one are the major collectors through various methods. For instance, the local government mostly collects from parking and such services Therefore, London City seems to be a perfect place to start this video store because there is political stability, no exaggeration of taxes not to mention the security. Secondly, economic factors in every city, especially one where a business is started, are very important and have to be investigated extensively. Usually, when the interest rates are low, business people are able to access loans at a lower rate. At this point, it is vital to understand that since the inflation rate is not high, the local people will be able to spare some money to spend on other things. As an informed businessperson, this video game store will have clients from every part of London courtesy of the marketing strategies. One reality about business is that no matter how strategic one may be, if the overall financial status of the target market is poor, the business will have minimal chances of success. Conversely, if the people in a region are financially stable, the businesses have higher probabilities of achieving success. Therefore, this London city is a great opportunity for this video game business to be initiated. The social aspect of every region is an imperative in the analysis of a business location. It is not logical to initiate a business where the locals hardly