5.1.5 Business toolkit step 1: Business analysis


We recommend three steps to support profitable entry into the MRE industry: business analysis, product development and communication. On the following pages you will find tools to help your business to assess whether to make the decision to diversify into MRE.

1. Business analysis tools

1.1 Access to MERiFIC documents through a PESTLE grid (Political, Economic, Social, Technological, Legal and Environmental)
1.2 Evaluation of the industry using Porter’s five forces
1.3 Links and useful information

1.1 The macro environment: studies and resources from MERiFIC:

We have classified the reports and findings from the MERiFIC project according to criteria from the popular business PEST analysis tool, to which we have added Legal and Environmental aspects.

Political:

What political factors are affecting the industry?

What support is the government giving?

  • 4.1.1 UK  National Policy Framework for Marine Renewable Energy within the United Kingdom (pdf, 1.71MB)
  • 4.2.5 Combined Policy Applications Report (pdf)
  • More MERiFIC work on policy issues
Economic:What’s going on in the economy?What factors will support your new venture and what may increase risk?

 

 

Social:Are social demographics affecting the MRE industry, for example: a more environmentally aware consumer?

 

Technology:

What technological breakthroughs are affecting the MRE industry?

Environmental:

What impact will MRE have on the environment?

Legal:

Is there any beneficial legislation that will support industry growth or inhibit growth?

  • 5.2.1 Procurement code of practice
  • 4.2.3b Policy Systems: Legislation shaping the renewables sector – UK stakeholder workshop minutes
  • More MERiFIC work on policy issues

 

 

1.2. Evaluation of your business using Porter’s ‘five forces’

Use the questions in the link below to assess your industry. Porter’s ‘five forces’ looks at the power of buyers and suppliers, threat of new entrants, threat of substitute products and the intensity of rivalry to assess the viability of an industry. You can  print your answers at the end of the survey, after clicking on ‘Submit’.

Take the five forces evaluation

1.3. Other useful information on the MRE market

Here you will find useful links and information (not exhaustive) for the MRE sector: journals, websites, groups and organizations, trade shows and conferences, etc…

Specialist publications:

Groups and organisations:

Conferences:

  • All Energy Exhibition and Conference
  • Coastal Futures
  • EWEA Offshore
  • Global Offshore Wind
  • Hamburg Offshore Wind Conference
  • Offshore Vessels and Access
  • Ocean Business
  • Offshore Wind
  • Port Infrastructure for Offshore Wind
  • Renewable UK
  • Seawork
  • Sea Tech Week
  • Thetis EMR
  • Wave and Tidal
  • Windfarm Development, European Offshore
  • Windforce
  • Windforce Baltic Sea
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