7. Key Issues in Small Business Management
About this Booklet
Business management involves many complex issues. We asked some of our business
customers to identify the most pressing management issues that they deal with in their
businesses. We then presented these problems to professional organisations and
successful business owners. They applied their expert knowledge and understanding of
the small business market to produce the solutions you will find in this booklet:
Booklets to read with this one:
Considering your own business
The business plan
Principles of finance and your business
Your business premises
Factors to consider when choosing a location
The location of your business is extremely important in helping you to reach
your target market and operate within your budget. Give careful attention to
the following when deciding where to base your concern
Do you rely on passing trade?
How important is the image of your business?
Is there safe parking nearby for your customers?
Do you need factory or warehouse space with the capacity for
Production facilities can take advantage of low rentals in out-of-the-way back
streets, while retail outlets must be where the customers are. An information-
based service, on the other hand, can operate out of a briefcase with a
notebook computer, a modem and a cellular telephone.
It is important to research your market and the area in which you are thinking
of renting premises. This will give you an idea of how many other businesses
will be competing for your customers. If you locate your business in a busy
shopping mall, for example, you will need to work at making your products or
What you must know before you sign any documentation
How efficient is the management of the building?
If you are considering premises in an office building or office park, find out
who manages the premises. Talk to