Definition of Business External Environment The Small Business External Environment can be defined as the events, forces, conditions and entities surrounding a small business that influence its activities, choices and decisions. The external factors affect a small business’s abilities to be successful and build relationships with customers. The external environment has two components, commonly known as the Macro Environment and Microenvironment.   What is the External Micro Environment of a Business? The small business’s external micro environment is formed by the individuals and factors within the immediate area of operation that directly influence its business operations and ability to serve customers. There is direct contactRead More →