Explain the Characteristics of the Local Business Environment Essay

IntroductionI am going to talk of the town about characteristic of the local backing environment in the Leicester. My chosen business enterprise is eastern European restaurant.Product MarketThis restaurant will be aimed at a niche market for European people who live in Leicester. They are a lot of people from Eastern Europe identical Poland, Latvian, Lithuanian and it will help to me make a profit. I font for European public, because I check off there are lots of Asian restaurants in Leicester and not umteen European.Sector and industry changesThis business falls into the tertiary sector which is growing faster than primary or secondary as many companies decide to provide service because it brings more profit than manufacturing. People pay more notes for go down goods and services than they do for raw materials. At the moment many people havent got a job which helps to me to chose more options of quality staff and wages. Tertiary sector is growing fast and took over about o f the industry. Primary and Secondary sectors not growing and not expanding as train of it isnt big.Legal physical body WorkI have researched about the types of wellness and safety that I would emergency in a restaurant and have found out that for my business which is a restaurant business I would need at list level 2 of food hygiene certificate for health and safety and health and safety certificate for the workplace. As I would be the only owner Sole-trader so I do not need to register my company as a company LTD and do not need a registration with company house. I will be personally responsible for accounts and paying evaluate of the profit Ill make each year.Planning and EmploymentI am thinking to open(a) my restaurant in Narborough road, because it is strategically advantageous position.I would like to recruit two bartenders and six waiters, referable to shift change.Economic trends and IncomeRecession is in the all world and touches all business sectors in UK. soon peo ple stop going to the restaurants. The government increasing VAT which affects small businesses and they income. Opening new business can be really risky especially new restaurant. People spending more money for goods they really need and not leaving any money for entertainment. If we will have a look at hierarchy of Moslow restaurant business is on the top needs for people and humans