At Finnies we can provide advice and support on a wide range of business issues. This article includes advice on relocating your business.
One of the consequences of running a successful, growing business, is that there may come a time when you need to consider moving to alternative premises.
However, relocating your business necessitates careful planning. From choosing your new premises, to preparing your staff for the forthcoming changes, you must consider each stage of the process carefully.
The first thing to consider is your reason for relocating. This is an opportunity to reassess the needs and objectives of your business. It may be a good time to introduce any other key changes.
When choosing your new premises you should keep in mind the reasons why you are moving. Make sure that the site does not only satisfy your current needs, but will also accommodate any future developments, such as further expansion. You should also investigate transport links, and the local job market, should you intend to take on any staff from the local area.
From solicitors' and designers' fees, to the potential trading time lost as a result of the moving process, you must have a clear idea of how much each part of the move is going to cost. Include the cost of carrying out any additional building and decorating work, installing telephone and networking access and security systems, and the price of new furniture or accessories, as well as the cost of updating your company stationery, vehicles and website.
Announcing plans to relocate your business can raise feelings of anxiety among staff, particularly if you only intend to take part of your employee base with you. The issue must be dealt with sensitively. You may want to offer an incentive to your key employees, such as a financial package to assist with the cost of moving. You must also make sure you fulfil your legal obligations with regard to redundancy.
Think about each step of the process, and what to do should anything go wrong. Allocate the responsibility for key parts of the move to trusted members of staff. You should endeavour to implement the move as quickly as possible - perhaps over a weekend - so as not to impact on your trading time.
If you are looking for support and help from experienced accountants and business advisers, contact Finnies.
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