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Relocating A Business: The Top 6 Things To Consider

Jul 04 2023

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Relocating your business can be an exciting time – opening up new possibilities for growth. But it can also be stressful. It’s a big decision, and choosing the right location to move to is a difficult undertaking. There are countless options in the UK, with each workplace option and location having its own unique pros and cons. 

To help you get the most out of your business relocating, we’ve put together a list of six essential considerations to make when you’re in the planning and research stage. Read on to get the ultimate guide to relocating a business.

Cost changes

One of the most significant parts of the business relocation process is figuring out what your workplace budget is and how far it’ll take you. Your budget will be the key limiting factor in what areas are open to you and how big a space you can choose.

Establish how much you’re willing to spend per month on your new workplace, taking into account both overhead costs and potential hidden costs. The main ones to bear in mind are the monthly rent, any building management or service costs, and utilities including internet. 

It almost goes without saying that these costs will invariably be higher in more popular locations. If you’re planning on relocating to London, for instance, you’ll need a far bigger budget than if you’re moving to a small town outside of the capital. Check out the average office rental costs across the UK for reference.

You also need to factor in the cost of relocating itself. The further away you’re moving from your current office, the more expensive it’ll be to transport your supplies and any furniture you’re taking.

Workplace availability

Some areas of the UK are much better-equipped than others in terms of workplace options. While any location in the UK is likely to have traditional offices available to lease, smaller localities like villages and towns are less likely to have other options like serviced offices and coworking spaces.

If you’ve got your mind set on a particular type of workplace, it should be factored into your search. If you’re keen to adopt a flexible modern coworking space, for example, you’ll get the most choice in major cities. 

Use Google Maps or a dedicated workplace listing site like Hubble HQ to filter in your shortlisted locations for the type of workplace you want.

Impact on employees

Relocating your business necessarily involves thinking about how it will impact your employees. If you’re planning a major move, more than 20 miles away from your current location, for example, it will have a major impact on your staff. 

There are several considerations to make with regards to this. The first is to ask your employees how the move will impact them, and if it’ll be possible for them to make it into the new workplace on a regular basis. 

If the relocation means that some employees won’t be able to make it into the office every day, you’ll have to consider changing the way your business operates. Hybrid working patterns or a full-remote policy for non-local employees can both mitigate the negative impacts, as can travel stipends for commuters. 

Impact on customers/clients

Similarly, if your business is customer- or client-facing, you’ll need to think about how your move will impact your current clientele. Clients that come into your office for regular meetings, for example, might not be overly-pleased with the idea of having to travel much further for the same purpose.

The best thing to do to get ahead of this problem is to simply have the conversation with your customers or clients. Let them know what your plans are, and suggest some alternatives to in-person meetings to proactively solve the problem. Also factor in how easy it is to reach your potential new workplace, to make sure it won’t be prohibitively difficult for people to visit.

On the other hand, relocating your business is a great opportunity to get closer to your ideal customers or clients. Consider this when you’re choosing a location, and see if your shortlist puts you in proximity with good-fit businesses. 

Growth potential

Unless you’re sure that your business will never grow any further, it’s important that you factor your growth plans in to your relocation strategy. Choosing a new workplace isn’t a short-term decision. 

Accordingly, you need to make sure to pick a workplace that can not only accommodate your current team, but can also scale with your business to allow for personnel growth. You can use our office size guidese to get an idea of what this looks like in terms of square footage.

Also, since a big move might mean you lose some staff who aren’t willing to relocate or commute, it’s important to consider how big the talent pool is in the area you’re relocating to. For your business to grow effectively, you’ll need to have access to great hiring options. 

Community fit

Finally, it’s important to make sure that your business will make sense in the locations you’re considering. Although it’s hard to quantify, cultural and community fit can be the difference between a great workplace option and an average one. 

A good way of determining if a particular workplace option would be a good fit for your business is to look at what other businesses already work there and what on-site amenities are on offer. Both of these factors offer clues as to the type of environment you’ll be entering, helping you to decide if it’s right for your business.

How to choose where to relocate your business

Relocating your business is an exciting journey, but it requires careful consideration. By keeping the above factors in mind when you’re researching potential locations and specific workplaces, you can maximise the chances that you’re new space will be a perfect fit for the future of your business.

To get started with your journey, take a look at our workplaces in London and throughout the UK. We offer high-spec serviced offices, coworking lounges, meeting room access, and more, all housed in beautiful, iconic buildings. 

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