Competition is a fact of business - but look to turn it to your advantage. You can stay ahead of the pack by making sure you're clued up on what your competitors are up to and finding niches they haven't yet explored. Even if you can't compete with your larger competitors on price, find a good unique selling point (USP) and customers will be streaming through your doors.
SWOT analysis: a method of taking an objective look at a business by assessing its strengths, weaknesses, opportunities and threats.
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