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For example, interest rates go down meaning your business loan cost more last year than it will this year.Some other examples include:factors refer to the cultural norms and attitudes of your targeted demographic and that of your employees, partners, competitors, etc.
For example, if you own a landscaping business, you’ll need to concern yourself with the weather every single day, while plumbers can work indoors.
Political is similar to legal and social, but is a bit different, as political factors seem to change more often.
Some examples are:factors are financial fluctuations that are typically out of your control.
Whether you’re starting a business, looking to strengthen operations, thinking about your next marketing move, or planning to grow employee numbers, a PESTLE analysis can help you plan.
In general, a PESTLE analysis allows you to both anticipate and prepare for industry changes, and implement changes in your own business to adapt to shifting industry trends.