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External influences Economy Interest rates Most businesses will need to borrow money. The interest rate will affect how much it costs
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External influences Economy Interest rates Most businesses will need to borrow money. The interest rate will affect how much it costs a business to borrow money. If the interest rate is high the money a business owes is more than before. A 20% interest rate rise would affect Cadbury's; they would have to pay extra money towards the loan. This too would affect Sainsbury's in the same way. Any interest rates that go up will affect a business because the business needs to make up the costs and the only way to do this is to higher the prices of their service or products. The company might have to borrow more money to pay for the interest rate going up. Competition Competition is where rival businesses aim their products at the same customers and try to win and keep their custom. Sainsbury's main competitors are tescos, Asda and Morrison's. They all sell food and...
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