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There are many things to think about when choosing the location for the head office of your company. This guide will highlight some of the key things to consider when deciding where your company should base itself.
Somewhere with access to the workforce
The majority of businesses have to consider access over all else when it comes to choosing where to place their headquarters. This largely depends on your business and whether you’re after a young workforce of graduate millennials or an older, more experienced group of people.
As a business, you should work out what type of labour force you want and pay attention to where your potential workforce is currently, where they’re likely to go in the future, and what they want from a company.
Cities with large populations of skilled young people like London, Cardiff and Manchester are hubs of activity and provide many opportunities for businesses. Companies know that skilled workers prefer to be in close proximity to people like themselves and so cities with those features have an advantage over quieter rural areas.
Somewhere that fits with your businesses ethos
In addition to being able to access the workforce, it’s important that the location you choose for your headquarters is the right fit for your business.
If your company is especially into diversity, serviced offices in Manchester or London might be something to consider. With the residents of larger cities speaking more languages, this can only be a benefit to the diversity of your business
Culture plays a big part in the development of a business, and mustn’t be ignored if choosing to locate headquarters in large cities. Serviced offices are also a lot cheaper than standard office rentals, but more on that later.
Likewise, if your company prides itself on its high level of talent and style, having an office in the centre of London or Manchester amongst coffee shops and busy workers might be the perfect branding image for you.
There are both pros and cons of deciding to place your business within proximity of competitors.
If a location has a lot of consumers because of the current competitors, your business might benefit from this too. On the other hand, if several competitors sell the same product there will be repercussions on one of the businesses in particular.
Is your location or office type affordable?
When it comes to choosing a location for a business, there are lots of hidden costs to be aware of on top of the monthly rent payment, especially if you need to decorate the interior or fit the office with new furniture and equipment. Not only do owners need to pay taxes on commercial buildings, but there are often renovation or installation fees to pay before your business can move in and begin work.
On the other hand, serviced offices instead have an all-inclusive monthly payment plan. This makes it a great option for cutting costs without compromising on functionality, particularly if your chosen location is more on the expensive side.
In summary, your company should choose to place its headquarters somewhere that has good access to the workforce, but is still affordable. As well as this, the location should fit in with your company’s ethos, and you should be aware of all nearby competitors before deciding on one specific location.