Avoid Problems When Relocating as an Entrepreneur

Avoid Problems When Relocating as an Entrepreneur
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Moving to a new place is often a complicated process, and doing it as a business owner makes everything more challenging. It takes good planning and deliberate decision-making skills to set up your business properly in its new home and avoid a variety of legal pitfalls along the way. Here are some tips that will help make the moving process a little easier when you’re launching a business at the same time:

Build Out a Calendar for the Move

Planning each step of the move — especially when you’re moving out of state — allows you to see it overall and makes it less likely that you forget a crucial step. A thorough plan is also easy for others, such as employees, to follow. In some cases, it may be best to move the business to the new location gradually so that it has less impact on your day-to-day operations. Depending on your budget and expenses, this may not be a viable option.

Set Up Physical Facilities Ahead of Time

If your business relies on a storefront or a physical office to operate, set up a new place well in advance. If you don’t do this, you may not be able to get the building you wanted, leaving your business in limbo and costing you money and time. This process can also involve buying signs, materials, and furniture for the new location. If your business sells physical products, consider having extra inventory on hand during the transition, so you don't lose money when you make the big move.

Coordinate Your Employees

If you have multiple employees working for you, figure out which employees may move when you relocate the business. If you run a retail business or something with employees that are easier to replace, it's probably best to scout out new employees in your destination state. However, if your business has more loyal and involved, highly skilled, or niche employees, you may have to consider transferring them with you if they’re willing to do so. Keeping employees as remote workers is also an option.

Think About the Implications of Switching States

Depending on the type of business you own, moving it to a new state comes with varying degrees of complication depending on the licenses and certifications required to operate it and the rules in the new state. If you have questions about the viability of moving your business, differences in state regulations and operating requirements, or legal issues between states, hire a business lawyer to iron out the details.

Moving Your Business Must Be Done With Precision

Moving a business to a new state, or even just a new city, requires planning a thorough timeline, communicating with employees, and being savvy when setting up new facilities. Ensure that you can set up any certifications and licenses needed to operate in the new state, and consider a formation service or legal counsel if you need help.

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