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A Whole New World? The Impact Of Business Relocation

In What You Need To Know About Small Business on July 31, 2017 at 7:58 am

It’s a natural part of the evolution in any company, whether your business is in the process of scaling up, or you are just at that point where you are outgrowing your current location. Finding a place that suits your customers, clients, as well as your employees, is quite a task, and a business move is never an easy decision to make, especially if you’re going quite a way away from where you are right now. But there are a few things to take on board to make the transition easier on everyone, you included.

Understanding The Personal Impact On Your Employees

You need to remember that if your employees are sticking with you, especially if you’re making a big move, it means that they are placing a lot of faith in your abilities to take the company up to the next level. But even if it’s not a big distance, there are still practical things to bear in mind, especially if you choose to relocate to an industrial estate that can’t be accessed by public transport. This alone, can have an impact on their work ability, especially for example if they have to face a 2-hour commute into work every day. It can have a devastating consequence on their output.

Are You Covered For Everything?

Relocating a business means that you are likely to suffer some business interruption, and whether this means a loss of productivity before, during, and after the move, it could mean a loss of revenue. But on the plus side, there may be certain tax breaks based on where you have relocated to, but this is all dependent on the amount of jobs that the business is able to create. It’s also worth thinking about things like the public liability as well as surety bonds, which, in essence, is designed to protect the public from dishonest business practices which is vital if you are working in a professional capacity such as a mortgage broker or a construction specialist. You can find more information from www.meadowbrookdirect.com to give you more details on surety bonds and what ones are suitable for your business. But in terms of getting yourself covered when it comes to relocation, there are quite a few things you need to ponder.

How Is This Going To Impact On Your Customers?

This is probably the biggest question you need to ask yourself because if you are relocating even within the same city or town, is it likely that your customers are going to follow you? While you can spend money on marketing techniques to inform the customer of your change of address or offer discounts to keep enticing your customer to your new location, it is worth bearing in mind that this isn’t always going to work and there may very well be teething issues. It’s worth looking at sites like www.mymovingreviews.com to get an idea of what the best approach may be for your business. And while relocating a business is usually done for the reason of accessing a new market, it is very likely that you will find new customers to replace the ones that you have lost. Never forget the various resources online that can help to keep you ahead of the curve in this respect.

Relocation is in many respects a jump into the fire, but if you cover your bases correctly, then it should make a smooth transition to a brighter future.

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