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Factors Affecting Location Of Industries: 12 Factors Entrepreneur Must Know
Factors Affecting Location Of Industries
Generally, the location of industries is influenced by economic considerations though certain noneconomic considerations also might influence the location of some industries. Maximization of profit which also implies cost minimization is the most important goal in their choice of particular places for the location of industries. Let us learn about various factors affecting location of
industries. T
There are several factors that pull the industry to a particular place. Factors Affecting ation Of Industries are:
1. Availability of raw materials
2. Availability of Labour
3. Proximity to Markets
4. Transport Facilities
5. Power
6. Site and Services
7. Finance
7. Finance
9. Personal Factors
10. Strategic Considerations
11. External Economies
12. Miscellaneous Factors
\section*{Let us learn the factors affecting the location of industries in detail below:}
1. Availability of raw materials: In determining the location of an industry, nearness to sources of raw material is of vital importance. Nearness to the sources of raw materials would reduce the cost bulk of the total cost. Therefore, most of the agro-based and forest-based industries are located in the vicinity of the sources of raw material supply.
2. Availability of Labour: Adequate supply of cheap and skilled labor is necessary for the industry. The attraction of industry towards labor centers depends on the ratio of labor cost to the in the interior parts of the Bombay region was one of the factors responsible for the initial concentration of the cotton textile industry in the region.
3. Proximity to Markets: Access to markets is one of the important factors affecting location of proximity to markets.
Industries located near the markets could be able to reduce the costs of transport in distributing the finished product as in the case of bread and bakery, ice, tins, cans manufacturing, etc. rather than producer goods.
4. Transport Facilities: Transport facilities, generally, influence the location of industry. Transportation with its three modes, i.e., water, road, and rail collectively play an important role. So the junction points of waterways, roadways, and railways become humming centers of industrial
activity.
Further, the modes and rates of transport and …