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What is a PESTEL/PESTLE Analysis? PESTEL or PESTLE Analysis is a strategic business planning or market research tool for Small Businesses Owners to identify, analyze, and monitor the key macro external factors that impact their businesses now and in the future. The macro external environment can be defined as the global business conditions, entities, events, and factors within which a small business operates. The PESTEL framework considers the Political, Economic, Social, Technological, Environmental, and Legal external factors as a basis for analysis and how they affect the probability of  small businesses being successful and profitable. PESTLE analysis helps you identify business opportunities and threats withinRead More →

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In: Business Analysis & Tools, Strategic Planning

What is A SWOT Analysis? SWOT (strengths, weaknesses, opportunities and threats) analysis is a useful small business analysis and planning tool that allows owners to focus on their strengths, minimize their threats and exploit new opportunities. SWOT analysis is most successful during brainstorming sessions and identifies the internal and external factors/conditions that are favorable or unfavorable in achieving specific business or project goals/objectives. SWOT analysis helps small business owners to set realistic expectations by being aware of weaknesses and threats. It also helps them to discover new prospects that they are well-positioned to take advantage of based on their strengths and external opportunities. SWOT analysisRead More →