PEST analysis:

POLITICAL FACTORS

When starting a new online business, it's important to be aware of political factors that could potentially
impact your business. Here are some political factors to keep in mind:

Government Regulations: You need to be aware of any government regulations or policies that could
affect your business. For example, there may be regulations related to data privacy, online advertising,
or e-commerce taxation.

Political Stability: Political instability or a change in government can have a significant impact on
businesses. Changes in government policies can affect taxation, trade regulations, and other aspects
that can have an impact on your business.

Intellectual Property Laws: Intellectual property laws, such as copyright and trademark laws, can have an
impact on your business. Make sbure you understand the laws related to your business and take steps
to protect your intellectual property.

International Trade: If you plan to do business internationally, you need to be aware of trade
agreements and tariffs that may affect your business. Changes in international trade policies can have a
significant impact on businesses that rely on imports or exports.

Labor Laws: Labor laws and regulations can affect your business, especially if you plan to hire
employees. You need to be aware of the laws related to minimum wage, working conditions, and other
labor-related issues.

Political Ideology: Political ideology can have an impact on consumer behavior. Be aware of any
potential biases or preferences that your target audience may have and tailor your marketing and
messaging accordingly.

Cybersecurity: Cybersecurity is a growing concern for businesses. Governments may have regulations in
place to ensure the protection of personal data, and businesses need to be aware of these regulations to
protect their customers' data and avoid legal issues.

It's important to stay up to date on any changes to these political factors to ensure that your business is
operating legally and effectively.
ECONOMICAL FACTORS

When starting a new online business, it's important to consider the economic factors that can impact
your success. Here are some economic factors to keep in mind:

Market conditions: The current state of the market can have an impact on an online business, that is
why, the market conditions must be analysed, before launching the busines.

Competition: The level of competition in this industry it is not that low, but we must be aware and make
sure that this does not impact our profitability and market share. But we must also analyze our
competitors and find ways to differentiate our business.

Taxes and regulations:

Sales tax: Many countries and states require businesses to collect and remit sales tax on their
products or services. Be sure to research the sales tax laws in your region and register for a sales
tax permit if required.

Income tax: Online businesses are typically subject to income tax, just like traditional businesses.
Make sure to keep accurate records of your income and expenses and consult with a tax
professional to ensure you are complying with all tax laws.

Website accessibility regulations: Many countries have website accessibility regulations to

ensure that websites are accessible to individuals with disabilities. Be sure to comply with these
regulations to avoid legal issues.

Currency exchange rates: If you plan to sell your products or services internationally, currency exchange
rates can impact your revenue and profitability. Keep an eye on exchange rates and consider hedging
strategies to mitigate risks.

Payment processing fees: Payment processing fees can impact your bottom line. That is why we must
research and compare different payment providers and find the best fit for our business.

Investment and financing: Starting an online business often requires significant investment and
financing. Our funding options are going to be mostly from investors of companies that make, or deal
with products in food sector.
SOCIAL FACTORS

When starting a new online business, it's important to be aware of social factors that could potentially
impact your business. Here are some social factors to keep in mind:

Demographics: Understanding your target audience's demographics, such as age, gender, income, and
education, can help you tailor your products and services to their needs.

Cultural norms: Cultural norms and values can affect consumer behavior. Be aware of any cultural
differences that may affect how your products or services are received.

Social trends: Social trends, such as changes in fashion, technology, and lifestyle, can affect consumer
behavior. Be aware of any social trends that may affect your business and adapt accordingly.

Brand reputation: In today's digital age, brand reputation is more important than ever. Be sure to
monitor your brand's online reputation and address any negative feedback promptly.

Customer service: Providing excellent customer service is crucial for online businesses. Make sure to
have a plan in place for handling customer inquiries and resolving issues promptly.

Ethical practices: Consumers are increasingly concerned with ethical practices, such as sustainability and
social responsibility. Be sure to communicate your company's ethical practices to your customers and
ensure that you are conducting business in an ethical and sustainable manner.
TECHNOLOGICAL FACTORS

When starting a new online business, it's important to be aware of technological factors that could
potentially impact your business such as:

Infrastructure: Your online business relies on technological infrastructure, such as servers and networks,
to function. Make sure to invest in reliable infrastructure and have a plan in place for managing and
maintaining it.

Mobile technology: More and more consumers are accessing the internet through mobile devices. Make
sure your website is mobile-friendly and optimized for mobile devices.

Cybersecurity: Cybersecurity is a growing concern for businesses. Make sure to implement strong
security measures, such as firewalls and encryption, to protect your website and customers' data.

Cloud computing: Cloud computing can provide cost-effective and flexible computing resources for
online businesses. Consider using cloud computing services to host your website and store data.

Data analytics: Data analytics can provide valuable insights into customer behavior and help you make
informed business decisions. Consider using data analytics tools to track website traffic, customer
behavior, and other metrics.

Social media: Social media platforms provide a valuable opportunity to connect with customers and
promote your business. Consider using social media marketing to reach new customers and engage with
your existing audience.

Emerging technologies: Emerging technologies, such as artificial intelligence and virtual reality, have the
potential to revolutionize the online business landscape. Keep an eye on emerging technologies and
consider how they may affect your business in the future.

By considering these technological factors, you can ensure that your online business is equipped with
the necessary technology to operate effectively and efficiently. Additionally, by staying up to date on
emerging technologies, you can position your business for future growth and success.