7 Reasons Why a Relocation is Good for Business
Office relocation is not and should not be perceived as a bad sign. On the contrary. Business relocation is good for business for numerous reasons and entrepreneurs have recognized the benefits. If any proof is needed, it is enough to observe the trends set by big corporations and business giants. Always in motion, they are in search of better business opportunities. Why not follow in their wake?
Why is relocation good for business?
If you are considering an office relocation, you are most likely familiar with the abovementioned trends and opportunities of an office or HQ move. While it is not something to take casually, business relocation is not much different from other business decisions and projects. After all, when it comes to the moving process, the best course of action is to team up with other professionals - expert movers who will take care of the relocation. Firstly, we're offering insight into the advantages of commercial relocation for your best convenience. After that, you can focus on the task ahead of you, which is to learn how to prepare efficiently.
Relocation is good for business because it allows entrepreneurs to
- Reduce the overall costs of running a business
- Take advantage of beneficial government incentives
- Gain access to employees with better qualifications
- Modernize their facilities and equipment
- Reach and establish in new, more profitable markets
- Improve the quality of life and enhance their brand
- Cluster with companies within the same industry
1. A chance to lower the cost of operation
Reducing operating costs is the first step and a good way to make your business competitive in the market. Moving to a new location often presents many opportunities to find less expensive working space or offer better terms and easily attract employees. Equally important reasons for relocation are the utility expenses that take out a large chunk of your monthly budget. However, to assure relocation stays within your financial limits, ask a commercial move estimator to visit your business in person. This is an optimal solution for saving money when moving, as it will provide the most precise cost estimation.
2. Access to lucrative incentives
According to The Tax Foundation, Florida has improved over the last few years in terms of the corporate tax component of the state business tax, rising to an excellent 6th place. This improvement in business tax climate makes office moving to any Florida city a sound business decision. Also, there is no excuse for not being familiar with tax breaks and lucrative incentives in your industry. City authorities across the States are investing in their communities by offering profitable terms to businesses.
3. Better-qualified workforce
If your business depends on employees with a specific skill set, the only way to grow is to move to a location with a better supply of talented and educated workforce. The most obvious destination is in the vicinity of higher education facilities linked to your field of work. Once you gain steady access to labor that suits your business, you can decide whether to buy or lease office space as it will affect your budget long-term. Furthermore, it may happen that the local labor pool simply cannot support the expanding business anymore. In this situation, the only remaining option is relocation to a city that offers access to a larger number of high-qualified job applicants.
4. Opportunity to move to a bigger shell
Rare are entrepreneurs who make thorough market research and start their business in the most favorable location. Over time, as businesses develop, they reach a moment when no further growth is possible. Either they lack sufficient, affordable space or modern equipment - or both. At that moment, the right decision is to return to the step that was overlooked in the beginning. To reduce the impact of the move on your business, hire experienced movers. To allow experts to assist you is a way to transport your commercial goods stress-free and retain as much productivity in the process as possible.
5. Move where the grass is greener
Business owners should always be on the lookout for a location that provides the highest returns. Moreover, the farther your market is from you, the higher transportation costs will be. These can be avoided. Reducing delivery time and expenses will lead to higher revenues. Furthermore, relocation is good for business that has simply reached its limits at the present location. Opening new branches in new locations is a logical and even expected business decision.
6. Improved lifestyle benefits employees
One of the biggest and most important assets of every business is its workers. Relocation that has lifestyle improvements, among other things, in mind, can significantly increase employee productivity as a result. Several factors positively affect employee satisfaction. They include lower costs of living and crime rates, better access to healthcare and quality education systems, a clean environment, and diverse cultural and entertainment options. On the other hand, high-talent job seekers flock to cities that offer equally high-quality living, and business owners often follow in their wake.
7. Relocation for clustering is good for business
While it may seem illogical at first glance that businesses in the same industry benefit from clustering in the proximity to each other, there are financial advantages to this decision. The most important is the savings they achieve by grouping. By sharing the same infrastructure and supply and distribution networks, businesses increase their productivity. With improved efficiency, they become more competitive. Moving and clustering of companies make, in turn, one favorable location a focal point for the high-quality workforce, suppliers, and distributors. Silicon Valley, Hollywood, and Napa Valley are typical examples of companies clustering in the computer chip industry, movie industry and wine production, respectively.
Moving is beneficial; otherwise, companies wouldn't be in constant motion. While some businesses relocate to save on operating costs or benefit for tax and other incentives, others strive for access to a skilled and talented workforce. All things considered, growth opportunities are at the core of every business relocation. Expansion of working space, improvement of living conditions, and brand enhancement included.