A PEST analysis is a useful tool for understanding new markets. Download this free template now.
If you’re considering exporting to another country, one of your first steps should be to complete a PEST analysis of the market.
PEST is an acronym for “political, economic, social and technologicalâ€ factors. PEST factors are external influences, so completing a PEST analysis is helpful prior to completing a SWOT (“strengths, weaknesses, opportunities, threatsâ€) analysis, which is based broadly on half internal and half external factors.
It is important to clearly identify the country or location that is the subject of a PEST analysis. A PEST analysis is a four-way perspective in relation to a particular business proposition. If you blur the focus, you will produce a blurred picture.
Our free PEST template includes sample questions or prompts, and you can insert the answers into the relevant section of the PEST grid.
Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.