An average relocation package costs between $21,327-$24,913 for a transferee who is a renter and $61,622-$79,429 for a transferee who is a homeowner. Of course, this number is just an average of what larger corporations are spending on employee relocation – the relocation amount can be anywhere from $2,000 – $100,000.

Should I move my business location?

Good reasons to move a business include increased space needs and wanting an area with higher foot traffic. Create a business plan before opening a new location. This gives you the opportunity to review your financials and generate a market analysis.

Should cost be the major influence on location decisions?

The top five major factors identified that may strongly influence international location decisions generally were: costs, infrastructure, labour characteristics, government and political factors and economic factors.

Why relocation is good for business?

Improved working facilities: Relocating your business operation may help to improve efficiency and productivity levels because you can provide your staff with much improved and larger working facilities where they have upgraded tools and equipment to work with.

How to move a business to a new location?

The following is part of a three part series detailing many of the most important aspects of moving a business to a different office location.

What does it mean to move your business?

But before we get into the nitty-gritty, let’s dissect what relocating a business actually entails. Relocating a business can mean several different things. It can refer to moving an office from downtown to the suburbs. It can also mean that you move your office from one city to another, potentially across the country.

How long does it take for a company to move?

Part of the problem is the complexity of these two issues. There’s no set time for how long it should take to move, Ward says, and sometimes you don’t have a choice. “I’ve worked with companies that made a decision in three or four months because they didn’t have a choice,” she says.

What happens if you move your business halfway across the country?

If you relocate your business halfway across the country, the amount of jobs available in that community will substantially decline, resulting in a decrease in town population as people leave in search for employment. This will then impact small businesses in the area due to the decrease in patronage from people in the town.