American companies have increasingly moved or outsourced work to foreign companies. During the 2000s, the biggest US companies cut their American workforce by 2.9 and increased their foreign workforce by 2.4 million. If you are a business owner who is considering relocating your company, try moving to a business-friendly state instead of taking it overseas.
Best States
According to Forbes, many of the best states for business in 2014 were west of the Mississippi, including Utah and North Dakota. Other states with a great business climate include North Carolina, Virginia, and Louisiana. These states offer business owners an excellent labor supply, less-restrictive regulations, and a great quality of life. Utah, which ranked as the best state for business, offers energy costs that are less than 26% of the national average. North Dakota has a low unemployment rate, a booming energy industry, and a high standard of living. North Carolina offers business owners a terrific workforce, great educational opportunities, and an excellent transportation system. Many other states also offer substantial opportunities for your company to thrive.
Foreign Disadvantages
Moving your business overseas has several serious disadvantages, including communication issues. Language differences matter, particularly in business dealings where misunderstandings can cost you money. Also, until you move your business, you do not know how well your foreign suppliers will perform. If things do not work out for you overseas, returning home will be prohibitively expensive. In addition, moving your company can be a public relations disaster. Americans are particularly sensitive to the loss of jobs overseas. You may lose part of your client base if you decide to move out of the country.
Moving
If you decide to remain in the country but move to another state, the moving process will require extensive planning. You will need to budget for moving expenses, appoint a moving team or committee, and plot a detailed timeline. Moving your manufacturing equipment will require hiring professionals like those from Don R Fruchey Inc to transport it safely to its new location or get it ready to send by rail.
If you are planning to move your business for various reasons, you should consider choosing a state with a business-friendly climate rather than moving overseas. When you research the disadvantages of moving out of the country, you may well decide to give Utah or another top business state a try. Sometimes, moving your company is necessary to stay in business, but if possible, keep it in the United States.
Share18 August 2015
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