So then, what are the comparative benefits of towns and cities as business locations? The benefits of a city-centre locationįrom London to Los Angeles, major cities are business hubs and the most common areas to establish new startups. Are you looking for a short-term location with plans to move in the future, or are you looking to keep your HQ grounded? If it’s the latter, making sure your premises can accommodate the growth of your business means you won’t need to deal with the costly and time-consuming act of moving your business. East London, for example, is an excellent place to launch a tech startup, whereas Sheffield in the manufacturing capital of the UK.Įven if you find a location that ticks all other boxes, have you considered business growth? As any other business leader, you’ll want your company to do as well as possible, which means expansion could be a real possibility. Depending on your industry, choosing between a major city and smaller town can have an impact in attracting the right people, but choosing which city or town can be just as crucial. That includes the big costs like rent and business rates, but also smaller, easy to forget fees like whether you and your staff need to pay for parking or if the premises needs a deposit.įinding the right talent is a must, and your location plays a big part in this. You wouldn’t move into a home that you couldn’t afford, so why would you move your business into a building you can’t afford? It’s crucial to make sure you thoroughly research everything that you’ll need to pay to operate in your location of choice. On the other hand, if your business offers a new spin on a popular market and you’re confident you can out-perform established companies, choosing to set up shop near competitors is a good way to quickly pick up customers and create a presence. Restaurants and car dealerships regularly operate in close proximity of similar businesses, as they give customers the chance to compare before purchasing.If there is too much competition in an area, consider relocating to a more suitable location. ![]() Gauging the competition in the area is an interesting one, as it’s not necessarily a bad thing to be located near competitors. Suppliers are another thing to think about, as businesses that require frequent deliveries need to make sure they’re easily accessible. If you’re hard to find and rely on a high footfall, you’re limiting your potential to grow. It’s not just your staff that need to reach your business, your customers do too. It’s not always a simple choice whether to choose a major city or a smaller town, so we’ve listed a number of details to think about before committing: What to consider when choosing your business’ locationĬhoosing the location of your business is important and needs careful consideration. Below we take a look at what businesses need to think about when looking for new premises, and then review the benefits of setting up shop in both big cities and smaller towns. ![]() ![]() Gallaway suggests that all these companies being founded in San Francisco and Silicon Valley are more than just coincidence - the proximity to some of the best engineering universities in the world has allowed each business to flourish.īut it’s not just household names that can benefit from where they’re based, all businesses need to take into consideration the pros and cons of their location. ‘Serial entrepreneur’ Scott Gallaway has reviewed how location has impacted the success of 'The Four' - the world’s largest tech companies, Amazon, Apple, Google and Facebook. You could have the most unique idea or well-polished business plan, but if you don’t find a location that fits your business model, you’re limiting your potential for success. Whether you’re an established business searching for a new HQ or are a brand-new startup looking to find your feet, the most important thing to remember is location, location, location.
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