Successful businesses will generally start out small and grow as their revenue stream increases. This financial growth leads to a need for expansion into a larger space and sometimes a corporate relocation to another town, city, state or country. When the time comes to make a move like this there are a number of factors to consider.
The first factor of course should be your employees. They are the reason why you are where you are and it's important to reward their efforts and loyalty. Before making a decision on corporate relocation the issue of your workforce must be addressed.
Are you moving close enough to your present location where you can retain all of your employees? If not, is there a potential personnel pool at the new location and what will it cost to rehire and train new people? Can the corporation sustain the dual expense of severance for your current workers and recruiting of new ones?
Many opt for corporate relocation to other countries because labor is so much cheaper. This is particularly true for manufacturing companies in the United States who have found it more cost effective to produce a product in Central or South America and import it into the United States.
If you're planning on making a move like that you'll need to consult with professionals who are familiar with international corporate relocation.
Once you have determined where you are going and what you're going to do about employees you need to look at your corporate structure and identity.
If you are incorporated in the United States you have to have a business agent with an address in the state of incorporation in order to claim that state as your physical home base. Your move out of state might require you to restructure your corporation to comply with the laws of the new location.
Consulting with legal and financial professionals ahead of time on this issue can save you on taxes and penalties down the line. If you are moving out of the country you may want to maintain a U.S. address or you may want to incorporate in your new location. Check out the pros and cons of each.
Once personnel and financial issues have been resolved there is the matter of a moving or shipping company to do the physical portion of you corporate relocation. Most established corporations have valuable equipment that is just as essential to their success as their employees are.
Do your research when it comes to choosing a mover. It's recommended that you find someone with an established track record of success that has knowledge and experience in either short or long distance moves. If this is an international corporate relocation find someone who knows the ins and outs of international shipping.
Do your homework and ask questions. Your company is your livelihood and it deserves to be in the right hands.
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