Benefits that may accrue to a firm as a result of growth of the industry.
Benefits that may accrue to a firm as a result of growth of the industry.
- Easier access to labour- where many firms are located in one area a pool of labour of various skills is usually available. Therefore firms relocating to the area find it easy to obtain.
- Improved/efficient infrastructure- usually where many firms are located, infrastructure would be highly developed e.g. roads, power, water and communication facilities. Firms relocating in that area thus enjoy the services of infrastructure already in place.
- Firms may be able to dispose off their waste product easily
- Ready market may be available from the surrounding firms
- Readily available services such as banking, insurance and medical care
- Adequate supply of power due to large volume of consumption e.t.c
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