When Should You Relocate Your Business Premises?

Posted by Timotea Corderoon October 17, 2017

It is not every day that a business is required to move into a newer location! But when the need arises it is a must that you do! So how do you identify these tell-a-tale signs of when you need to be relocating your business?

Well, here are some things that suggest you need to shift!

Area

The floor area is one of the major concerns when either expanding or even downsizing. You may not have enough floor area to accommodate your new employees or the fixtures and fittings at your present location. This will inevitably call for the need for a new business premise that is more accommodating. Also the business premise will need to be changed if you are downsizing your business. Paying for too much of floor area that is unnecessary to you, will obviously be an utter waste of company resources which may be used in a better way.

Cost

The cost of your present building is another reason why you should consider relocating. You may also be able to find a better business premise at a lower cost or a relatively lower cost. Which will also increase your business activity. In such a case the cost of the business premises in relation to the returns will be much lower. So as long as the cost of relocation brings in a positive effect to the business, it is safe to assure that you should relocate! You should also consider going for a co-working space Hong Kong, as they are very cost effective and a very professional way of sharing resources with other companies.

 

Better reach

You may also be able to get a better reach of your target audience by relocating. In a business it is very vital that you try to keep growing the business in order to ensure that you survive, amidst all the competition. You should therefore, always look for ways to reach more customers as possible. And relocating in a prime city full of target customers is one way of doing that! It is also a good idea to go for a location that has shared co-working space, especially if your business doesn’t require that many workers and floor area!

 

Change!

In any business that flourishes well, there are changes taking place. And these changes cannot be conveyed only through documentation or re-arranging of seats. It may require that you change the entire company’s setup. Like the business premises and its interior setting. Especially if it is a takeover after a bad reputation, you may need to make such a drastic change.

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