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PESTEC Factors
Elizabeth Mc
Created on January 23, 2024
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PESTEC
External factors affecting business
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Political
Corporate Tax UK
The amount of taxes is decided by Government
New legislation can affect businesses
Political means that the factors come from government, and may include legislation
Economic
Uk Interest Rates
Unemployment, interest rates and inflation are all levers
When trading internationally, currency is different
Economic means anything to do with the levers of economy
Social
Ages of UK citizens
Businesses need to consider demographics when making products
Building on a trend may be good for a product
Social means any sort of trends or factors created by people living in society
Technological
Most popular social media platforms (Facebook)
Businesses can use new technolgy or softwares to automate themselves
Social media is a powderful advertising tool
Technological means anything do with new devices or softwares (technology)