How population affects business!

[Mellorando]

Population is literally the lifeblood on which any business at all could succeed
Increase in the size of population can enlarge the production base of the economy. The increase in size of population enlarges the scope of division of labour which in turn results large scale production, reduces cost of production and prices and expands market.
Population growth increases density and, together with rural-urban migration, creates higher urban agglomeration. And this is critical for achieving sustained growth because large urban centers allow for innovation and increase economies of scale.
Businesses react to the world around them. Products are sold not based on the business’ designs but on the strength of the customers’ needs. Therefore, it is vital for small businesses to be responsive to population shifts and lifestyle changes that are widely adopted by customers. Shifts in population and migration affect the composition of your workforce and influence the type of products your customers can purchase. Meanwhile, widespread lifestyle changes can influence the benefits businesses have to provide to their employees and what products they can sell to their customers

Below are the advantages of economic growth to a business

Advantages of population growth
1. More people leads to greater human capital. If there are more people, the probability of finding a genius like Einsterin, Marie Curie, Beethoven increase. These exceptional people can lead to technological and cultural masterpieces which enrich our lives. The past 200 years have shown exponential growth in technical development and innovation. There are many factors behind this, but the world’s growing population means we have a bigger pool of human capital and the possibility of these cutting edge discoveries increase.

2. Higher economic growth. Population growth will lead to economic growth with more people able to produce more goods. It will lead to higher tax revenues which can be spent on public goods, such as health care and environmental

3. Economies of scale. Farming and industry have been able to benefit from economies of scale, which means as the population grows, food output and manufacturing output have been able to grow even faster than population growth. For example, at the turn of the nineteenth century, Thomas Malthus predicted population growth would lead to famine as we would be unable to feed the growing population. However, his dire predictions failed to materialise because he failed to understand, that the productivity of land, labour and capital could all increase more than proportionately. 300 years ago, most of the population worked on the land. Technological innovation and economies of scale, mean productivity of land has vastly increased as farmers make use of mechanisation and economies of scale for increased food production.

4. The efficiency of higher population density. In terms of per capita carbon footprint, areas with a high population density are significantly more efficient than rural areas and places with a low population. When people live in densely populated areas, they are more likely to use public transport, live in apartment buildings which are easier to heat. In big cities, transport and the delivery of goods is much more efficient, whereas for low population densities, the average cost and environmental footprint are much higher. Therefore, population growth which leads to growth in city connurbations (which is a feature of global growth in past) is not as environmentally damaging as we may think. In Green Metropolis, by David Owen he argues living in closer proximity in cities is a key aspect of sustainability

 

[Kingsley]

Population has been seen as total number of people living within a geographical entity at a particular point in time. Population is very essential for any settlement to be regarded as a settlement. infact the number of people in a particular place will determine the relevance that will place on that particular environment. The econmic strength of a people most times is measured by the population in that community. when it comes to trade and commerce we always add value to the population size of such geographical location.

Nigeria happens to be the largest economy in Africa due to our population size and this has attracted alot of investors all over the world to come to Nigeria becomes of the position it hold on account of her population. Businesses thrive very well in Nigeria because of her population, Nigeria is the most populous black nation of the world and the most populated in Africa and the 7th most populous in the world this is why Nigeria is regarded as the giant of Africa. There is enough people in the country that will make businesses to always succeed.

No matter the type of business you bring in here there will always be a market for it due to the large population size.

 

[Good luck]

Population has really affected business generally because a highly populated environment will always help market bringing more people together to trade and their will lot of varieties of things to be trade on.If you notice something like a market,you will see that it is always full of people because different people are there to buy and sell goods in large quantities.you will meet different ethnic groups because of the population.Population create avenue for good business anywhere in the world

 

[Deleted member 28127]

Sometimes the climate affects a business such businesses disappear in summer while other businesses disappear in winter means in all the time you couldn't assume that this business means you need to merge between population and climate.

 

[PICKFORD]

Population is literally one thing that you have to consider when setting the location of your business for example if you are thinking of establishing a confectionery business you need a place with a lot of people where they can see your product and patronize you but if you are dealing on renting of houses and space in like lands you don't necessarily need a large population. A company cited in a area where there is low population means low profit but if you cite your industry or company in an area with high population size then you are bound to make more profit.
But anyways no matter what type of business that you run with a small scale business or large scale business population is essential Africa is considered as one of the biggest country with large population presently no there is a rise in poverty in Africa establishing of industries in places like Africa is actually a good idea.

 

[Yusra3]

A business needs the size of consumer base and workforce availability that are directly influenced by population size and ageless structures. The bigger one is the amount of a customers. At the same time, the more there is competition. A population can over time result into demand for products and services that are elderly-related and at the same time reduce the available workforce. As a cause of population's demographic changes like having more or less income, education, or urban or rural distributions affecting consumers’ preferences and spending behavior too. Wise companies constantly track the population developments in order to modify the assortment of the goods, promotional strategy and the entire management plan to interact with the consumers in the best possible way.