PEST Analysis

The links listed in our Resources pages are organized into groups to assist you in performing an analysis of your external business environment, treatment a mandatory step when preparing a business plan. This framework is often called a “PEST” or “STEP” analysis because it considers:

  • Political factors include those which are of relevance to your business, primarily government regulation, trade restrictions, the possibility of government intervention, and political stability;
  • Economic factors such as macro-economic growth, fiscal and monetary policy, cost of borrowing, and and exchange rates;
  • Social factors including population, labour force and employment issues as well as attitudes and cultural influences regarding your products and services; and,
  • Technological factors such the emergence and adoption of new technologies relevant to your products and substitutes, and advances in automation and manufacturing processes that can impact your costs.

Legal and environment factors are sometimes included as explicit additional factors for an expanded analysis called PESTLE, but we believe that these are embedded in the above.

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  • Meet Greg Graham

    Market Metrics Inc. helps knowledge-based businesses with strategy, planning and innovation and was founded in 2003 by Greg Graham, a seasoned marketing professional. Greg is a Certified Management Consultant (CMC), an Accredited Small Business Consultant (ASMEC), a member of the American Marketing Association, and holds MBA/BEE degrees as well as a Certificate in Strategic Management. He frequently performs consulting engagements on behalf of the Government of Canada's Industrial Research Assistance Program (IRAP). Prior to Market Metrics, Greg's 21 years of corporate experience encompassed tech start-ups through Fortune 500 companies.

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