SWOT analysis

 What is a SWOT analysis? 

A SWOT analysis is a strategic planning tool used to assess the Strengths, Weaknesses, Opportunities and Threats of your business. 

 • Business plan 

 • Strategic plan 

 • Marketing plan 

 • Feasibility report 

 • Communication plan


 Internal factors (strengths and weaknesses)

External factors (opportunities and threats)

Keep your SWOT analysis short and simple. Have 3 – 5 items / issues


SWOT analysis is like a snapshot taken now. 


STRENGTHS - Consider the following: 

What does the business do well? 

What do you do differently to your competitors? 

What is your competitive advantage? 

What is your Unique Selling Point (USP)?

What internal strengths does your business have? Consider skills, knowledge, passion, niches, networks and reputation. 

What external strengths does your business have? Consider customers, technology, brand awareness, funding and capital. 

What skills and training do you have? 

What are your key areas of expertise?

Have you bought innovation into the business idea? 


WEAKNESSES 

 The SWOT analysis tool should be used to identify weaknesses in your business. Consider the following: 

 • What are the weaknesses of your systems and processes? 

 • Are there weaknesses in your business model or business plan (little start-up capital, only one supplier, no staff, etc). 

 • Do you have areas on improvement as a business owner? Think skill sets / experience? (Digital media, marketing, finance, sales, cold calling). 

 • Based on your competitor analysis, what weaknesses does your business have compared to your competitors? 



OPPORTUNITIES Seizing opportunities 

 The SWOT analysis tool can be used to identify and explore opportunities. Opportunities are the external factors that, if used effectively, can help you build your competitive advantage. 

Consider the following: 

 • What are the current industry trends (e.g. a new online channel to market products and services)? Can they be used to your advantage? 

 • Are there any upcoming changes that could positively affect your business? Consider, for example, consumers, regulation and technological advancements. 

 • Is the business eligible for any grants or tenders 

 • Are there any opportunities to innovate? that you could implement in the business? 

 • Are there new market opportunities that you could consider? 

 • Based on what you have learnt about your competitors, what opportunities are there to be better than them? 


THREATS Counteracting threats 

 The SWOT analysis tool will help you to identify and counteract threats and build resilience. Threats include external factors that may be beyond your control. 

 Consider the following: 

 • What external factors could put the business at risk? 

 • What political, environmental, social, and technological factors 

 • What new competitors might affect the business? may enter your market? How could this affect your business? 

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