3 Things To Assess When Relocating Your Business

Sometimes, business relocation is inevitable for various reasons. While it is nothing new, it became more rampant when Brexit triggered one-third of businesses to consider moving their outfits outside the United Kingdom. Business relocation is similar to looking for a company location for the first time.

This time, however, the difference is that you’ve done it before, even though the experience may be different. When moving your business, there are some crucial assessments to ensure it can grow to become a long-established business in the new location. Below are some of them.

• Investment protection and workforce safety

When you take a cursory glance at the security ratings in different parts of the UK, you will notice differences in the figures. Some areas score very low, while other locations have higher values. This indicates that different factors determine crime and safety ratings in all four regions of the UK. In 2020, England and Wales were reported to have higher crime rates in the United Kingdom. This makes it advisable to take security seriously when planning relocation. As an establishment, you are responsible for enhancing staff security and protecting your premises from break-ins and theft. Assessing these elements will also inform the decision to adopt additional security measures at the new premises, so keep this in mind. In some cases, this may be expensive, but the long-term benefits are multipronged when you take steps to protect your investment and workforce.

• Consider the topography of the new location

England has many low hills and plains, while Wales is mountainous. Northern Ireland is a hilly landscape, and Scotland has diverse landscapes. Essentially, the topography in the UK is varied. So, how does this relate to your business relocation? The new business location’s geography bears on weather, climate, plumbing, building design, and even how sewage is managed. Especially with sewage, it would be a major headache to relocate to a spot where sewage lines are on an incline.

This is when your business may have secured a spot on the low end of a hilly landscape while sewage pipes go upwards. Certainly, gravity would not be on your side, resulting in critical plumbing and wastewater pumping problems for your business. If this is what you are likely to face, it would be best to have an adoptable pumping station installed. That would be one business relocation problem resolved.

• Conduct market research in the new location

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When running a business, competition is a double-edged sword, so keep this in mind. It cuts both ways, and depending on which side of the divide you belong, this may be good or bad. Many business market reports indicate that some businesses failed to capture the new market because they didn’t analyse the existing competition.

Other reports also state that the lack of local support fuelled the collapse of companies that relocated. This also means they simply failed to adapt. You can never underestimate the significance of market research before relocating your business.