People who are in business would know how it is like to engage your business address and move to a totally new place. Sometimes it is done on purpose and at other times it’s the only option you are left with. A geographical position, wherever it may be has its own importance. It gives you a sense of familiarity and brings you inside a comfort zone. However, sometimes it may be harming your business in ways that can’t be treated. So the decision of change in address and that too especially for businessmen and companies is a very calculated and important one.

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What could the reasons for this step be?

The reasons are multiple and varied. Sometimes businessmen decide to move out so that they could be closer to their residential place. Sometimes it is a better locality that they find which according to them would help their business flourish or would be of a greater market value than the older place. Sometimes it is because businessmen tend to move to a larger more advanced building then the [resent one and at other times businessmen are made to evacuate the rented buildings by the owners because they got better offers for rents. So whatever the case maybe, the change of address will definitely affect the business and the businessman in different ways. Sometimes positively, sometimes negatively and other time indifferently. Following are some of the pros and cons of the change in address for a business company:

PROS

Prestige and Perception

If you are moving your business place to a new location because of the better opportunities that you see over there than it will bring in a lot of prestige followed by a lot of money! This is a very good step and that too in the direction ahead, as moving from smaller less known areas to the ones known for business and industry is something every person desires and aims so if given a chance this great, it should never be missed and should always be considered a plus!

Credibility

A new place if in a known area is the destination where you are headed then you are headed in the right direction. It is something you can rely on and it might serve as a launch pad for your new career goals to be accomplished. It definitely would be a big decision and would ask for a few sacrifices too but it would be worth it in the long run.

CONS

Initial Costs

When you move to another place and shift to a totally new place, you have to spend more than you earn initially. This phase will give you a tough time and many people give up during this. It seems as if all you are doing is letting your capital go down the drain without yielding anything as you had in your head. This time would demand a great deal of courage, confidence and a little extra money as an investment.

Extra Expenses

At a new place, you will have to start from scratch in terms of your office management. You will have to furnish and arrange the office or the company in a personalized form which might add up as your extra expenses and may bring you a little regret as to why did you leave the previous office in the first place! You might also find difficulty in finding the new junior staff and if you find any, you’d have to pay them a little more than before as better places demand better salaries!

Making Name

It will also take you a few months or even a year to make your name in the new place unlike the old one where you were already settled with a good name and a lot of clients at hand.