Year 11 students can use SWOT analysis to look at local businesses in a smart way. Here’s how they can break it down:

Strengths

• What it Means: These are the good things inside the business.
• Examples: A strong brand, customers who keep coming back, and special product features.
• Interesting Fact: A 2023 survey found that 68% of successful local businesses think having strong relationships with customers is their biggest strength.

Weaknesses

• What it Means: These are the things that can make it harder for a business to do well.
• Examples: Not enough money, not having skilled workers, and being in a bad location.
• Interesting Fact: The same survey showed that 42% of local businesses have trouble managing their money, which can hurt their performance.

Opportunities

• What it Means: These are outside chances that could help the business grow.
• Examples: New market trends, new technology, and changes in the local population.
• Interesting Fact: A report said that online shopping grew by 41% in 2020, which gives local businesses a chance to sell online.

Threats

• What it Means: These are outside difficulties that could be risky.
• Examples: Economic problems, more competition, and changes in what customers want.
• Interesting Fact: Research shows that 60% of local businesses see rising competition as a big threat, especially after Covid-19.

How to Use This Information

By doing a SWOT analysis, students can help figure out ways for local businesses to improve. This can show businesses what they are good at and what needs work. It can help them set goals that match what customers want. Using SWOT with another tool called PESTLE will give students a fuller picture of what affects businesses today.