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Relocating Your Business – Know Before You Go

Apr 22, 2019
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Relocating a business can offer many advantages, from to opening new markets to lowering the tax burden to reducing operating costs. Whatever their reasons, business owners seeking a new locale must consider many factors.

Local Laws and Ordinances

Many municipalities offer incentives to move into the area, including enticing tax breaks. Those incentives may expire after a number ofyears but remember local laws and regulatory requirements must be met for the duration of a firm’s operations. Pay close attention to ordinances that apply specifically to your company and to the overall regulatory climate of a region.

Insurance Costs and Requirements

Even during expansion, a business needs to control costs. A new location may offer reduced shipping costs or lowered salary expenses, but if insurance costs are prohibitive the move may not be worth it. Look for an insurance broker who can customize policies to suit exactly what you need. Perhaps you are looking for a Mediterranean climate close to the Pacific coast and have chosen Lodi, California; search for commercial insurance lodi ca and ask for a quote. A local agency will be well-versed in what minimums are required by law and what additional coverage is advisable in case the unthinkable does happen.

Workforce and Work Environment

As the owner you are looking for a good business environment, but employees value a nice place to live. Be sure the new community will allow relocating employees an improved quality of life. You will also want to hire some local workforce, so consult local colleges and career agencies to ensure the new talent pool will satisfy your firm’s needs. Research local business cultures so your expectations will align with existing workplace practices.

Existing Infrastructure

A business that ships goods will want transportation hubs close by; manufacturers may need plenty of available warehouse space; multinational firms should be close to a major airport. Moving your operations closer to suppliers and large customers can benefit a firm in any field.

Look for an insurance broker who can customize policies to suit exactly what you need. Perhaps you are looking for a Mediterranean climate close to the Pacific coast and have chosen Lodi, California; search for commercial insurance lodi ca and ask for a quote. A local agency will be well-versed in what minimums are required by law and what additional coverage is advisable in case the unthinkable does happen.

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