Frequently asked questions

  • What is a competitor analysis?

    Competitor analysis describes the process of strategically assessing the strength and weaknesses of businesses competing for the same target market as you.

    It should help you make key decisions about how you’re going to run your own business, such as whether it’s better to invest in a physical presence or run an online store. Whatever you decide, Square can help you get set up with either a free online store and online checkout tools for taking secure payments, or point-of-sale systems and contactless card reader for physical storefronts of all shapes and sizes.

  • What should you include in a competitor analysis?

    This will vary depending on the type of business you’re analysing. There are no set rules.

    However, in general, a competitive analysis will cover:

    • Information about the business itself, such as how long it’s been running and how many employees it has

    • Information about its products and services, such as how they’re created, priced and distributed

    • Information about the business’ customers

    • Information about sales and marketing strategies, such as how much is spent on advertising and SEO strength

  • What is a competitor SWOT analysis?

    SWOT stands for strengths, weaknesses, opportunities for growth and threats. Once you have all the information you need on your competitors, you can analyse the data by examining and assessing these four areas in relation to your business.

  • What is an SEO competitor analysis?

    SEO stands for search engine optimisation. It describes the process of trying to organically get your website to appear high up in search results. The higher your site is listed, the more traffic it will get. If your competitors have superior SEO than you, your business may struggle to get visibility.

    To conduct an SEO competitor analysis, you’ll first need to identify who your search competitors are – and it won’t necessarily be who you expect. Once you know who you’re competing with, you can learn from their SEO strengths and weaknesses to leverage your own SEO into the best position.

Next steps.

Launching your business

From choosing the right business licence and insurance to setting up payroll and hiring your first employee, we’ve got the resources and information you need to start your business successfully.

Managing your business

Once your business is actually open, learn how to manage its everyday activities. Finance, operations, marketing – they’re all down to you. We give you the help and advice you need to get to grips with these.