Questions You Should Ask Yourself Before Moving Your Business
Moving your business isn’t a decision you should take lightly. Moving your business means moving your equipment, your team, and setting up shop in a brand new place that may have a different set of rules and regulations – not to mention may or may not be welcoming to new businesses. Below, we’ll take a look at the questions you should ask yourself before moving your business.
Is The Local Business Community Going To Welcome You?
First, you need to consider whether the local business community is going to be welcoming to you. Make sure you check the state and the city tax codes so you can figure out if your business will enjoy any tax benefits. You should also know whether there’s a state income tax, and whether you will need to pay a percentage of state tax for commercial leases. In some cases if you receive orders from another state, you may need to pay extortionate shipping costs.
Will You Be Able To Get To Where Your Clients Expect You To Be Easily?
It’s also important to consider how easy it will be to get to where your clients want you to be. How will your new location affect employees, too? Make sure you check out transport links and whether this is a fair decision to make for everybody involved. Making sure there are transport links nearby is a must if you’re going to keep costs for employees and clients low and morale high.
Will The Local Workforce Be Enough For Your Company?
You want the most talented people to work for your company – will you be able to achieve that if your next talent pool will come from the local workforce? Or is this potentially a place where talented people would like to relocate themselves? Make sure you’ll have a good choice of candidates before you look into business moving seriously.
Is This A Place Where Everybody Can Flourish?
You want everybody to have a ‘sense of place’ where people can flourish. Not just you, but your team, too. It will take more than a nice place to work to make this happen. It takes a combination of things! It can vary depending on the kind of business you run and the people who work for you. For instance, people may get a sense of place if there are great schools, an amazing nightlife and a thriving music scene. Whatever you do, you need to ensure that it meets the values of your business. If you know that the sense of place matches your business needs and values, then you have probably found an ecosystem where your business can thrive.
You may want to relocate for a variety of reasons. Making sure you carefully consider the above questions will give you an idea of whether this is the right choice for your business. Location will impact many things, including talent, your business’s relationship with the local community, and your overall success. Make sure you think this through!