PESTEC Factors

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)