Company HQ relocation guidelines
Moving a company HQ can be a good way of developing your business. Various tax benefits, lower costs of running a business, bigger market; they could all be good reasons for changing your company’s HQ address. However, there are many other things that you need to consider before doing so. Of course, you will need to find a reliable moving company. And Preferred Movers NH could be the best solution in this case as they have years of experience in complicated commercial relocations. But finding suitable movers is only a small part of this process. If you are serious about finding a better place for your business, read these company HQ relocation guidelines and learn about what it takes to do it successfully.
Do compelling market research before you decide for a company HQ relocation
The first and most important thing with company HQ relocations is to do good market research. Your wish to move is not enough. You need to find a good place where you will move your company HQ. Different states offer different conditions for business. Therefore, you will have to do thorough research before making a scheduling with your state to state movers. Or maybe you are thinking about moving abroad? When choosing a new location for your company HQ you also need to think about your employees. How many of your employees will want to move? And will you have to hire new personnel after the move?
You will also need a detailed business plan
After you found a perfect new location for your company’s HQ, you need to prepare a good and detailed business plan. This plan should contain your company’s goals, aims, costs and possible benefits of the move. Planning the details will give you an idea about the costs of hiring moving companies in Massachusetts, and the ways to cover it. You will need an executive summary with details about your business and plans about targeting the new market. It should also cover detail operation, logistics costs, and financial prediction details for at least 12 months in advance. A good and detailed business plan is crucial when deciding why and where to move your company HQ.
If you decided on company HQ relocation, learn about different laws and regulations
Different states have different rules and regulations. Therefore, you will have to make sure that you learn about it all before deciding on a corporate relocation. Tax laws are complicated and if you are not sure about it, search for professional advice. Connect with local accountants and financial advisors that are experts in financial and legal requirements. This is the best way to make sure that you will feel the financial benefits of moving there.
Notify everyone about your company HQ relocation
When you decide to move your company HQ you will have to notify everyone about it. This includes your employees, clients, partner companies and authorities.
Notify your employees and help them move with your company
Of course, the first on your list should be your employees. This can be difficult new for some of them. So, you need to make sure that you do everything in your power to ease this process for them. Of course, one of the best ways to do this is to prepare different relocation packages that will allow your staff to move with the company. There are several different types of relocation packages that companies offer to their employees. Here are some of them:
- The lump-sum model is when the company gives its employee a certain amount of money to cover his moving costs. Employees like this model because they can keep everything they do not spend. But the Tax Cuts and Job Act of 2017 made these expenses taxable. So more and more companies are now trying to avoid this type of relocation packages.
- The core flex model is becoming more popular in recent years. Employees are given core benefits within their relocation package with a set of optional benefits.
- Tiered model is similar to the core flex model but it is more structured according to the employee’s position in the company.
Notify your clients and vendors
Next, you should notify your clients and partner companies about your move. Especially if you are moving long-distance or to another country. If you are only moving your company HQ, maybe this will not be so important to some of them. But those who are affected by your move should be notified. You can use e-mails, call them over the phone, or notify them in person.
Notify the authorities
Finally, you will have to notify the authorities. If there are layoffs, maybe you will fall under a WARN act. Check with your lawyer about it.
Find reliable professionals to help you with your company HQ relocation
Finding a reliable and professional commercial moving company is also an important part of a successful company HQ relocation. Unfortunately, that is not so easy to do. There are thousands of moving companies online and they all look reliable and professional. But only a handful of them is capable of performing difficult commercial relocations. Luckily, there are ways to identify frauds and find trustworthy moving professionals. Of course, reading reviews on the company’s website is not the best way to do it. On the other hand, if you use FMCSA’s website or Better Business Bureau you can learn almost everything about the specific moving companies you are interested in. You can read genuine reviews, learn about their complaints and history of resolved disputes. Use those websites to choose several companies and get their moving quotes. Compare the quotes and choose the best one.
It could be a good way to improve your business
As you can see, company HQ relocation requires lots of planning and research. But if you do it right it could be a good way to improve your business.