The Financial Case For Relocating Your Business

The Financial Case For Relocating Your Business

So you’ve decided – or are in the process of deciding – that relocating your business is a viable option for your company.

Relocating your business can be a stressful experience. It’s like the stress of moving to a new house, but with so much more involved.

When you move house, you’ve already done all the research and know that when all the packing, unpacking and lugging everything around is done, you’ll finally be left to relax in your new home.

When relocating your business, there are a few more risks involved, especially financially. That’s why at Compare the Man and Van, we’ve put together a few points which explain to you why relocating your business is a risk worth taking.

It’s cheaper up North

If you’re a business based down South, the sheer vastness of the London expense may be getting to you. It’s no secret that everything up North in England is cheaper than its southern counterpart. This means that if you’re running a business, by locating it further up North, you’ll find yourself with access to cheaper real estate and cheaper labour.

With less-expensive bills to pay in terms of staffing and commercial property (and as a by-product, your own personal accommodation), you could find yourself much better off. With smaller outgoings, drawing a sustainable profit could become more of an attainable goal. Click here to find out which areas of the country are cheapest when it comes to running a business. It probably won’t surprise you to learn that two spaces in the top three are taken up by areas in the North of England.

Proximity to transport interchanges

The Financial Case For Relocating Your Business

Is your business in the middle of nowhere? It may have seemed cheaper to take up a commercial property in a remote part of the country, but the lack of ability to commute could cause some problems. First of all, you’ll be cutting off the talent who don’t have access to on-demand transport and rely on public means to get to work.

But from a financial point of view, it could become a strain for you, as well as employees and customers alike when it proves to have a negative effect on fuel costs. Have a look here for some further benefits on running a business where commuting on public transport is beneficial.

Government Assistance

Perhaps relocating your business to certain areas could benefit you by way of grants, available to apply for in development zones.  With the government having launched 48 of these zones across the country by 2017, it is believed that these are beneficial for many new and expanding businesses.

Some of the financial benefits of relocating your business to an Enterprise Zone include 100% discounts over five years, to the value of £275,000 per business, and simplified planning from the local authority. For more information on government provided assistance via Enterprise Zones, please see here.

Those are just a few reasons why relocating a business could be financially beneficial. If you do decided to make the move, rest assured that here at Compare the Man and Van, we will be on hand to help you make the right moves for the move.

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Poppy loves personal finance almost as much as she loves her two cats, Tif and Taz.
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