PETESL analysis on my business

 

PESTEL analysis

Political factors 

Because of the nature of my creative enterprise (documentary making) there will be a lot of political factors to consider, I need to make sure I stay unbiased when producing content to make sure it's as factual as possible. I need to be careful not to slander any political party. I'll also have to take into account things like labour laws, I would need to make sure that I'm not breaking rules.

Economic factors

There are many ever changing economic factors that will apply to my business, for example the willingness of consumers to keep buying and watching my content. This is why it's the companies best interest to stay topical to achieve viewer retention. If the demand for factual programming goes down then they'll be a lot less opportunities, this would obviously negatively impact the businesses income.

Social factors

It is essential  for the business to stick to it's values and mission statement, I need to be sure on my target audience to ensure that marketing is as effective as it possibly can be. The business must be well perceived by the public to succeed, in the creative industry one of the most important things is your reputation, if we market to the right people correctly, it will build up a trusting viewer base.

Technological

As a business in the creative sector it is so important to keep up with new technologies, in terms of the latest cameras and microphones, to distribution platforms. It's very important we keep up with everyone else so that are content at least looks as good as the competitions, preferably better. If not it would very unprofessional and would make it a lot harder to get clients. 

Environmental factors

One of the biggest environmental factors that my business will have to think about is transporting the film crew, especially if they're going over seas, it could be very bad for the environment to be constantly having many people travel all over the world. This is definitely something the business will have to consider. Because most things are on the internet we wouldn't have to worry about the environment for distribution because we wouldn't be distributing physical copies

  

Legal factors

With any creative enterprise there are many laws you need to be careful of, you need to make sure that you don't use any trademarked/copyrighted material, this could land you in a lot of trouble that's why it's so important to understand the rules, although I hope for the business to be global and there are different rules for different places around the globe so it can get a bit complicated but it's important to not get sued.