Last week I performed a SWOT analysis on my venture, House of Muze Designs. In this posting I have conducted a PEST analysis. The concept of the PEST analysis is to look at external factors which influence the business.
The focus of a PEST analysis is to show which external factors are influencing the business. There is often confusion between a SWOT analysis which looks at internal factors influencing the business. The factors reviewed in a PEST analysis are: Political, Economic, Social, and Technological. It is imperative as both a leader and an entrepreneur to evaluate as many factors of one’s business as possible. Check out my PEST analysis below!