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Business Development

Business development entails tasks and processes to develop and implement growth opportunities within and between organizations.[1]It is a subset of the fields of business, commerce and organizational theory. Business development is the creation of long-term value for an organization from customers, markets, and relationships. [2]Business development can be taken to mean any activity by either a small or large organization, non-profit or for-profit enterprise which serves the purpose of ‘developing’ the business in some way. In addition, business development activities can be done internally or externally by a business development consultant. External business development can be facilitated through Planning Systems, which are put in place by governments to help small businesses. In addition, reputation building has also proven to help facilitate business development.

​Newmarket is a market town in the English county of Suffolk, approximately 65 miles (105 kilometres) north of London. It is generally considered the birthplace and global centre of thoroughbred horse racing[2] and a potential World Heritage Site.[3] It is a major local business cluster, with annual investment rivalling that of the Cambridge Science Park, the other major cluster in the region.[4] It is the largest racehorse training centre in Britain,[5] the largest racehorse breeding centre in the country, home to most major British horseracing institutions, and a key global centre for horse health. Two Classic races, and an additional three British Champions Series races are held at Newmarket every year. The town has had close royal connections since the time of James I, who built a palace there, and was also a base for Charles I, Charles II, and most monarchs since. The current monarch, Queen Elizabeth II, visits the town often to see her horses in training.

Newmarket has over fifty horse training stables, two large racetracks, the Rowley Mile and the July Course, and one of the most extensive and prestigious horse training grounds in the world.[6] The town is home to over 3,500 racehorses, and it is estimated that one in every three local jobs is related to horse racing. Palace House, the National Heritage Centre for Horseracing and Sporting Art, the National Horseracing Museum, Tattersalls racehorse auctioneers, and two of the world's foremost equine hospitals for horse health, are in the town, which is surrounded by over sixty horse breeding studs. On account of its leading position in the multibillion-pound horse racing and breeding industry, it is also a major export centre.

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