There comes a time when firms wish for a radical change of scenery. At that moment, it’s not hard to imagine that many business owners consider relocating their corporate HQ to another place, whether it’s a town or a state, or even a country. These days, we witness a trend of company leaders moving their corporate headquarters to Florida.
It would be overly ironic if one were to think only retirees flock to this southern US beauty. So, what’s the catch? In the article that you’ll find below these words, we’ll show you the pros and cons of moving your corporate headquarters to Florida.
Pro: Florida is Considered a Proving Ground
Are you a business leader trying to “make it big”? If so, you’ll want to know (the southern part of) Florida is considered by many business experts to be something of a proving ground. This part of the US is home to millions of consumers. Still, the Florida market is pretty tough.
But, it shouldn’t mean there aren’t any opportunities for newcomers. Quite the contrary! With the right kind of idea or a product, and an effective way to spread it around (i.e., reach potential consumers), you’ll be totally fine! Of course, Florida isn’t NYC. Still, one can easily say: if you can make it there, you’ll make it anywhere.
Pro: You’ll Grow with Ease
Since you’ve noticed the time has come for you to move your office, that might mean you’ve outgrown your surroundings. What was once home to a startup, right now, might seem cramped. Or maybe you can’t finance the expansion of your office in the place that serves as the original location of your business? Whatever’s the case, i.e., wherever you’re coming from – there’s a fair chance you’ll expand your office for a lower price in Florida. And did you know doing business is cheaper in Florida than in most US states? We’ll show you why in the next paragraph.
Pro: Lower Taxes
When one thinks about the construction “doing business is cheaper,” it’s not that hard to assume there’ll be a talk about lower tax rates following those words. Anyway, local business owners enjoy Florida’s overall low tax burden. There’s absolutely no personal income tax to pay to phrase it differently.
Additionally, corporations in the Sunshine State pay only 5.5% on their corporate income tax return. Now, how does that sound? It’s no wonder many business owners dream about moving their corporate headquarters to Florida.
Pro: Bigger Employee Pool
Currently, we can use two adjectives to describe Florida’s employee pool: young & educated. These young professionals possess many other attributes, but let’s try to be modest here. Also, some folks call Florida the next Silicon Valley. As a business owner, you’ll have a lot of professionals to consider as potential employees in your firm.
Many young folks are flocking to the Sunshine State searching for job opportunities. The numbers are only increasing with each year passing. Some of them are bound to knock on your office door as soon as you relocate!
Pro: Fantastic Commercial Moving Service
If you were to ask business owners around Florida, what’s the one thing (besides low taxes) that makes this state stand out from the rest, they’d probably tell you it’s the fantastic commercial moving crews. And who could blame them? They’re only speaking from their experience!
Anyway, you won’t have any trouble finding folks who know how to deal with your whole inventory with natural ease! Commercial moving isn’t the same as residential relocation! It’s more complicated, and the potential consequences of going DIY aren’t to be messed around with!
Con: The Relocation might Prove Costly
Even though it’s not that hard to organize a commercial move in Florida, getting there might prove to be a bit costly. Still, you shouldn’t worry so much about it! By working with the right moving crew, carefully negotiating the price, and engaging all of your diplomatic capacities, you might escape the financial downside of the whole ordeal.
As we’ve already mentioned, it’s way better than going DIY because if you choose the latter, no one will cover your damaged office inventory if something goes awry. We can assume your office items are nothing but expensive.
Con: Potential Loss of Regular Clients
As we’ve already said, Florida is home to a large client base (in addition to being home to millions of consumers). However, by moving to another state (in this case, Florida), you’re risking the loss of old, loyal clientele.
Make sure you calculate the numbers and see if the risk pays off. We reckon there’s a tiny chance of your business not succeeding after relocating to Florida since that’s rarely the scenario in these parts.
Con: Your Employees mightn’t Like the Change
Before you make a final decision to move your corporate headquarters to Florida, it might be time to consider what your employees think about the change. Make sure you invest some time in talking to them about this life-changing decision. They’ll probably have to move their home closer to the company headquarters, just like you.
Even though Florida’s fantastic for family life, many folks are reluctant to make such a radical change of setting. While you’re explaining your decision, focus on the advantages we’ve shown you in the above section of this article. That’s enough to get anyone excited!
Notice anything about the Prospect of moving your Corporate Headquarters to Florida?
All of these downsides of moving your corporate headquarters to Florida don’t really pose any serious threat, as you might’ve noticed.
All you’ve got to do is invest a bit of time and thinking. We’re sure the PROS outdo the CONS here big-time! With a big employee pool (triggered by great job opportunities), millions of potential consumers, low (sometimes non-existent) taxes, both corporate and personal, numerous growth opportunities, fantastic moving crews, and many family-friendly areas, the Sunshine State indeed sticks out as a great place to do business in the southern part of the country.