A SWOT analysis is a way of understanding the Strengths, Weaknesses, Opportunities and Threats for your business.
Your strengths and weaknesses are internal: aspects of your personality, personal skills and things that you’re good or not so good at. Strengths and weaknesses can also apply to a group or organisation, rather than one individual. These can also be known as advantages and disadvantages, depending on the context.
Your opportunities and threats are external: aspects of the environment, or things beyond your control, such as the actions of others. Opportunities are things that you can’t control but could take advantage of or exploit, whilst threats can cause damage to your success potential.
Download our handy guide for more information on what a SWOT analysis is and how you could use it to benefit your business.