Cookstown Northern Ireland – Business location Essay Example

accuracy, I plan to distribute 40 questionnaires and collect a more definitive understanding of what people in the area want to see in terms of store options.

To complete my assignment, I'll be using secondary data which includes information already collected and stored in public records and books. Additionally, I'll visit my local council to acquire censuses, demographic and business-related information about Cookstown and the surrounding area. Inquiring about financial help available for new business setup I'll visit a local bank. Moreover, I'll explore government departments to identify any support they offer for new businesses.

My plan is to use the internet to gather secondary information to help me decide which business I want to set up in Cookstown. Conducting market research is crucial to minimize the possibility of failure and maximize the opportunity. Additionally, I carried out primary research to gain an accurate understanding of the type of business that people in Cookstown want to see open. To accomplish this, I created a set of questionnaires and distributed them randomly to 40 individuals (see appendix 1). This approach was adopted to gain a comprehensive outlook on the preferences of the people in Cookstown.

Instead of posting the questionnaires and risking unreliable returns, I personally distributed them face-to-face. This approach allowed me to receive the information immediately and proved cost-effective. I found that people were cooperative and willing to fill out the questionnaires, which was very helpful.

Although I am satisfied with my primary research, I would have included a larger sample size if given the opportunity to conduct it again. This would allow for a more dependable and precise representation of the opinions of the entire population

of Cookstown. I have compiled the results obtained from my questionnaires into a database, displayed on the following page, which indicates each participant's response to every question asked in the survey.

Using filters, I will extract significant information from the database, such as the most popular shop. For secondary research, I consulted the Department of Regional Development through my local council. They provided me with booklets containing facts, figures, and a socio-economic review of Cookstown District, as well as an area profile (see Appendix 2). I also obtained a list of businesses in the local area (see Appendix 3), which I will analyze to determine the potential success of my business and the level of competition. Additionally, I have a guide to the top 100 businesses in Mid-Ulster, which places significant focus on business success in Cookstown (see Appendix 3).

During my research on support for new businesses, I visited a nearby Northern Bank branch where I obtained a business plan, leaflets, and a guide aimed at assisting small businesses. This guide offers advice on the types of help and support available and outlines various strategies for securing funding to launch a new business (Appendix 4). By consulting these resources, I will be able to determine the most effective approach for obtaining the necessary financial resources for my business. As part of my secondary research, I also explored several websites including www.

Cookstown.gov.uk provided me with details regarding the economic growth of Cookstown district along with a directory of local enterprises (see Appendix 5). Additionally, I explored ledu.com.

Within Appendix 6, I acquired details concerning the assistance extended by Ledu towards newly-established small businesses. Additionally, I navigated through www.yell.com

in order to gauge the competition levels within the vicinity.

(Appendix 7) By utilizing secondary research, a S.W.O.T analysis of Cookstown was conducted which enabled me to accurately pinpoint the strengths, weaknesses, opportunities, and threats of establishing a business in the area.

My research entails finding out what the people of Cookstown want in a shop, determining appropriate prices for products, and investigating how much money people are willing to spend and how often they will visit the shop. I will also assess location options and competition levels by visiting the local council. Finally, I will gather demographic information from the local library or council offices to determine potential customers.

Investigation into advertising costs for a new business should consider local newspaper ads and leaflet distribution. The questionnaire used focuses on gender, age, and employment information to determine preferences within the Cookstown area. Analysis of responses will provide insight into the preferences of different groups, including males, females, and various age groups.

By asking three key questions, I can determine the market sector to concentrate on in Cookstown. The first question relates to employment, which reveals the disposable income of locals. Next, I ask about their views on shopping in Cookstown and how often they travel elsewhere to shop. This gives a general outlook on attitudes towards the town. The final question is the most important, asking respondents to specify what type of shop they'd like to see in Cookstown that isn't already available. This information is essential to determine the most popular and successful shop.

As part of my investigation, I inquired about the respondents' intentions for utilizing the shop they identified in the previous question and their

estimated budget for spending. This inquiry will provide insight into the potential customer base and forecast sales revenue.