Location strategy for business is the process of selecting a location for an enterprise that will enable it to gain the maximum benefit from external factors and internal resources. The most important factors in determining a good location for a business include access to markets, labor availability and cost, proximity to suppliers, tax incentives, infrastructure quality and access to capital. When making a strategic decision about business location, it is important to consider both the short-term and long-term effects of the chosen location on the business.