One of the most fundamental aspects of starting any business is staying true to your roots, but when it’s got to the point that your business is doing so well in a completely different marketplace, the opportunity presents itself for you to up sticks and move, should you do it? Because there may be an ethical dilemma in you moving your business to another state, or country, should you actually make this move, or will it cause more problems?
- Your employees. Firstly, you need to think about how it’s going to work for your employees. If you have built an empire based around remote working, then this doesn’t have a devastating impact on productivity, but when a company is uprooting its entire workforce, it’s inevitable that there’s going to be some backlash. People’s lives are going to be changed, and you will have to prepare for a lot of people jumping ship. And this is why you need to phase the move gradually. An appreciation for the bigger picture is something that you need to communicate to your employees, because if you go about things by shielding them from the big decisions, they aren’t any wiser as to why you are doing this in the first place. Of course they know it’s for the benefit of the business, but is this ever reason enough?
- The logistics. As anyone who has moved home will attest, it’s a very stressful process. For anyone who has moved a business, it’s far more than that! There are specific contractors that can help with this, and if you are in a specialized industry where machinery and bulky equipment can present a logistical nightmare, you can visit A&A Machinery for machinery moving resources, but you have to consider the costs overall. Sure, it’s possible to get a relocation grant, but this isn’t always going to save your bacon as far as moving costs are concerned. Establishing a line of credit or a business loan may provide that financial buffer you need, but are you digging yourself further into the financial hole?
- Will it be good for you? It’s important not to underestimate this, and although you have weighed up the pros and cons, you are still going to move your entire life somewhere else. Moving your company means a new start, and it may not always feel right after a while. If you are making the change from one country to another, it’s not just about the benefits of the business, and although it may be more lucrative, the differences in culture, and the potential language barriers may be too much change to cope with. Change can be a good thing, and when you are weighing this up, not just from a business perspective, but a personal one too, you need to consider both equally. Moving is uprooting a lot of the fundamental structures of your company and placing them somewhere else. People chase the money, and this can cloud everything else. But with moving a company, it can be a short-term pain for long-term gain, but there is a lot more for you to take on board before you board up your current location.
This article contains contributed content.