Choosing the right criteria for the location of your new venture is critical. If your analysis is flawed, it’s easy to make the wrong decision.To find the best location for your project, begin by reviewing the qualitative and financial factors for each candidate. Assessing financial criteria is pretty straightforward, but you shouldn’t neglect the more subjective qualitative factors. It’s easy to overlook them in the planning phase, but they can determine the success of your launch, shape your operational performance and affect your bottom line over the medium and long term.
To help you analyze your needs and short-list the best candidates, we’ve created a decision matrix covering six key areas:
- Overall environment
- Quality of infrastructure
- Quality of the local ecosystem
- Quality of life
- Openness to the world