Local macroeconomic factors - practical application
nramchkranb1Assume you have an option to start a business say in San Francisco, Ca or Memphis, Tennessee. What macroeconomic factors will you consider in making your decision? For instance how critical are the following local factors - please address as many of these factors as possible:
- Labor productivity
- Labor cost
- Consumer Confidence
- Foreign exchange rate
- Global economic conditions
- Stage of the local economy - unemployment rate, GDP growth etc.
- Cost of credit
How critical are these factors in affecting not only your location by also on your pricing, non-pricing and production strategy?
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