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Top Factors Influencing a Business Relocation

Business Relocation Factors

Do you feel it's time for your company to relocate? Maybe you're running out of space, need better facilities or wanting to reduce your office costs. The reasons for companies deciding to relocate their business are endless, but here are the 4 top factors that influence their decision and move to "where the grass is greener":

Cost Issues
Cost is major concern for businesses. Perhaps your office lease is up for expiry, and your landlord is asking for more rent. Looking at other options will give you greater leverage and negotiating power to secure a competitive office rent at another location.

Better Location
Chief amongst reasons behind a business relocation is the need for a better location. Particularly if you want to attract the right workforce to your business, you need a location where you can easily find and retain the right talent and professional expertise for your business. The right location can also influence how your company brand is perceived so it's important to chose one which is both accessible and portrays the right image for your business.

Expansion
Moving office is often the only way to obtain more space for a flourishing business. If it is not possible to expand your business (either by obtaining adjoining space or by increasing productivity of your current operation), then you need to find out how much office space you need for your business. Use the Office Space Calculator to work this out for you based on headcount and number of private offices and meeting rooms.

Better Office Lease Options
Re-negotiating a new office lease on a new property can give you the opportunity to obtain a more favourable office lease, and with the current market conditions, you should be able to secure good tenant incentives. Use a Property Agent to negotiate your new office lease on your behalf to get the best results.

To help you find the right property for your business, use the Office Space Checklist to help you decide which office property best suits your needs.

 

Planning an office move? Go the office relocation planning resource centre

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