Building a robust business credit profile can typically be a figuring out factor within the success or failure of a business. Basing your business near opponents can work each ways; on the one hand there’s the danger that you will lose customers to your rivals, particularly in the event that they undercut you on value or have other advantages. However, you would possibly benefit from prospects looking to go to multiple retailers easily – think of all of the jewellers in London’s Hatton Garden. Both way, competitor location knowledge helps you find the hotspots.
One other key profit is faster responses to customers needs. Carmichael et al., (2000) suggest that the key driver for SMEs to innovate e-business is competition and buyer feedback. SMEs realized that they should stay competitive with a view to survive, thus responding to customer suggestions is a crucial weapon of competitors. These operational benefits and … Read More