Are you planning on moving your business to Kansas City? With its booming economy and business-friendly atmosphere, Kansas City ranks among the best places to start a business in the country. A recent report says KC is one of the top 50 cities in the U.S. to start a new business, based on key indicators such as rate of entrepreneurship, wage growth, job creation and population growth. This may sound like great news to you if you’re planning to move your business to Kansas City in the near future. However, there are challenges to moving any business anywhere, leading to concerns ranging from relocation costs and potential employee attrition to finding affordable office space and choosing the right mover to make it all happen. Here are some tips on how to prepare to move your business – successfully – to Kansas City.
Know How the New Location Will Affect EmployeesSwitching your business location could lead to many employees deciding to simply leave your company. Maybe they don’t want to live in Kansas City, or the move is too far for them. Maybe they don’t care for the local school system. Or maybe they were thinking of leaving anyway and the relocation provides them with that break. Or it could be that there is no incentive to make the move with you. This is why it’s wise in some cases to offer an incentive for your employees to relocate with the company. You could offer to pay for some of their moving expenses, for instance, or promise them bigger and better offices in the new digs. Whatever the case, don’t discount the impact of the move on your workers, and be prepared to compensate them for the inconvenience. Consider the change in lifestyle for your employees as well. Is the cost of living much higher in Kansas City than your existing location? Expect many employees to opt out of the move if they can’t reasonably afford a new home in a new city.
Map Out Your Relocation CarefullyIf you fail to do this, there will be all sorts of obstacles and challenges that can make the transition more difficult than it has to be. A change in location is a major change in your organization. Don’t take it lightly, or assume everything will come together at the last minute. Plan well in advance for the change, taking into account logistics, employee impact, vendor impact and more.
Connect With Local Business OrganizationsPart of planning is looking ahead and connecting with invaluable resources that will help make a more seamless transition. Check out the KC Chamber of Commerce to find helpful resources in the area. Research the business climate for your industry prior to making a definitive plan to relocate your business here. Head to the City of Kansas City government website for help with businesses or KCSourceLink for your guide to entrepreneurship. Inquire about state laws, policies and regulations that affect your specific industry. Seek advice from local community and business leaders.
Analyze the CostsCost is a factor in any business move, so don’t discount this consideration – no matter how attractive the tax benefits would be. You’ll have to make a compromise between business expenses, employee quality of life and target market of your products and services. Take a look at data trends on demographics, consumer spending, lifestyles, and more. This can provide insight into anything from customer accessibility to commute times. Making smart data-driven decisions is key in being a successful KC business owner. Check with the local economic development office or commerce department to get information on cost of living, average home sale prices, average lease and rent costs, etc.
Know the Potential Talent PoolIn the event you lose employees to the relocation, and you most likely will, you have to be aware of the future talent pool you’re jumping into. You want to be assured of access to highly qualified workers in case you experience high levels of employee attrition. College towns historically provide a lot of new talent, but don’t discount areas with strong trade schools and community colleges. You could qualify for training incentives to boost your bottom line. Luckily, Kansas City is home to many institutions of higher learning and trade schools, from which you could potentially draw talent, such as:
- University of Missouri-Kansas City
- Rockhurst University
- Avila University
- DeVry University
- Donnelly College
- Metropolitan Community College-Maple Woods
- Kansas City Art Institute
- Calvary University
- Manual Career Tech Center
- Concorde Career College