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I will write short, concise notes. A mix of both types of recording is needed, given the type of primary data wanted at the end of the questioning. On our fieldtrip we will go to a small area called Ballyhackamore as it is very close to our school and has a very wide range of shops. There are also a lot of people that shop here every week. These people are of a very varied age range and also an even proportion of males and females.
We have decided to use field and desk research. Field research is Primary research. This means that we go out and collect the information ourselves, so we do not have to sift through many pages of useless information, trying to find out one small piece of information that we could use. However we will also use desk research. This is where we look at information other people have gathered and use it to our advantage. This includes looking through newspapers, surfing the Internet or going to a library and examining records or books and the Companies Office if they are a limited company. This is going to be used to find out what businesses are in the area and what sort of profit they are making per annum.
Market Research – Market research is the process of gaining information about customers, competitors and market trends through collecting primary and secondary data. I will use market research to find the answer to my questionnaire i.e. what sort of business the local people in the Ballyhackamore area thought was missing and what they would like to see in the area. This is Primary research. It is also called Field Research. This will be our Questionnaire.
There is also Secondary Research. This involves looking at status from different years about topics and drawing conclusions from it. I could look at maps of Ballyhackamore to make sure I don’t create a business where it is not needed, or indeed duplicate a similar business, unless I feel the demand is there for a second one. Bank – I am using the bank for the purpose of collecting information about anything financial, from loans to pay for property, mortgage on property and starting the best bank account to suit my circumstances. They will act like a Financial Advisor. I will check Interest Rates and get the best deal.
Estate Agents – The estate agents job will be to show me the best available premises to start my business. I will look around many different estate agents until I can find the property and price that suits my business. I will also keep checking in the local press. Internet – the Internet will be used to show me available properties in the area but also to find out about the competition from rival companies in the area. It will also be used as advertising once the business has been set up. I could use E-Mail to send people information on the business. This may be unsuccessful because people will probably think it is Junk Mail and delete it. Therefore I will not depend on this as my only source of advertising.
Newspaper – this will be used while searching for the property but also as advertising after the business has been opened. It will also be used to advertise jobs in the business. Invest NI -I will talk to Invest NI (the new name for LEDU) about the possibility of both capital and revenue to help until the initial set up phase of my business. Also in the medium to long term I will hope to keep my relationship with Invest NI and be eligible for future grants.
Shell Livewire – Shell Livewire is another company, the same as Invest NI that helps businesses to begin and grow. They give grants to entrepreneurs to help them in their quest for a successful business. After completing all my questionnaires I will now put all my information into a database. I am using a database because I can perform searches on the information I have gathered to try and find exactly what I need to know. I can find different age groups, different sexes and even if the people are married or not. I will be using the database a lot until I discover which business I am going to open. I will then analyse my database and from that, hopefully find out what the public want in the area.
On a search of properties in East Belfast I found there were no available properties in Ballyhackamore that would suit setting up a business. However I did find a lot of buildings in East Belfast that could be possible sites for setting up a business. I found a sound property on Castlereagh Street. I also found a property on the Cregagh Road.
It is in a good location because this is near Ballyhackamore, however it is an upstairs premises so this could limit the type of people who could visit my business e.g. people in wheelchairs. New legislation coming in the next few years regarding access for the disabled means that an upstairs coffee shop without a lift to the first floor would not be viable. I have also found a suitable building in Kings Square. This is very close to Ballyhackamore and has a small shopping community itself. This would be a brilliant place for a coffee shop or trendy coffee bar. However on further examination of the area I discovered a coffee shop above a light shop in the Square, but again, access to the first floor could be a problem in the future.