The change of office is an important stage in the life of a company. It can signal growth, a change of direction, and maturity. But if not managed properly, it can be a painful exercise, so it’s important to weigh whether it’s the right time to move.

One of the most common reasons for moving offices is business growth. Businesses can simply outgrow the space they are in. Upgrading to a larger office space allows for a more productive environment and gives you the ability to increase workloads and staffing levels. Similarly, if your business is downsizing, moving offices can be one of the easiest ways to cut costs. There’s no point in wasting money on office space you don’t need. It may be convenient to have a shared office arrangement instead of leasing entire premises. This way, your company only pays for the space it uses and can share the costs of services such as reception facilities.

Like many business decisions, moving offices can be driven by financial concerns. If your business isn’t getting the most value from your current lease, looking for a better deal can ultimately save you money. Perhaps the landlord is paying rent but you feel the costs are not justified, so a new premise may be a better financial decision.

Outgrowing your office space may not just be a size related issue. As your business matures, so can your image. If your current office doesn’t follow the look you’re trying to achieve, then it may be time to relocate. This is particularly the case when you work from home, you may no longer project the professional look you are looking for. You may have more client meetings and hosting them from your home office is no longer ideal. It could also be that your current location is not attracting the customer you are looking for. Simply moving offices could increase your customer base.

When determining whether to relocate, consider the positive and negative aspects of the move;

SCAM

Costs: Moving offices can be expensive. It involves relocation costs as well as lost productivity during the move. It is essential to plan the process or seek professional advice so as not to lose business while moving.

Fitting out the new premises – Especially if the new office space is bigger than the old one, it may not have all the right furniture and IT infrastructure. This is where a serviced office can provide the best solution. The space is ready to work without your company having to bear the brunt of the costs.

Staff turmoil: A new location may not be desirable for all staff members and could cause employees to leave the organization. Discuss the move with key staff members and see if alternative arrangements can be made, such as flexible hours.

PROS

Profitability: Renting office space that doesn’t meet all your requirements can leave you paying for things you don’t need. A new office gives you the ability to pay only for the space you use. Shared offices can be an effective way to run your business at a much lower cost without compromising what you need. Relocation also allows you to renegotiate a lease that is more flexible and less risky, such as a short-term lease.

Gives your business a more professional look – Many small business owners start with very basic premises. A new office space tells clients that your business is growing.

Equipment Upgrades – Moving to a serviced office can often be the solution to upgrading your outdated IT systems and furniture. Newer infrastructure is already in place so your business doesn’t have to pay the price of having the best equipment.

Invigorate Staff: A fresh start in a practical and organized office space motivates employees and therefore increases productivity.