How to choose a location for your business
Despite the rapid advancement of technology and digital business, a physical presence will likely always be required, whether it’s to house your employees, keep products in a safe warehouse, or create a tangible brand presence for your clients.
When it comes to picking a location for your business, whether you’re opening your first office or store or seeking to grow into new locations, there are numerous factors to consider. If you are looking for help and advice on business location in Leipzig, Invest Region Leipzig are here to help you with everything you need to move and settle into your new business premises in the Leipzig Region.
Why is business location important?
The location of your business is vital for maintaining and growing your business.
A business’s location not only helps it attract customers, but it also helps it recruit the appropriate kind of talent to help it succeed. A business’s location also helps it build a brand and image, because there are always locations in an area that have a reputation, whether it is a reputation for simple living or a reputation for opulent luxury. The location’s reputation will reflect on how the business is perceived.
How can you choose the best location for business?
There are several factors to consider while selecting a business location. Every business is different, and you may have other important considerations when choosing a business location, however in general the main considerations should be: availability of skilled staff, cost of premises, proximity to other businesses, accessibility, demographics, and competition.
1. Cost
When it comes to choosing a business location, cost is an important consideration. City centres are great for staff and accessibility, but they also come at a high price. Before deciding on one place, it’s a good idea to examine the costs of numerous other business locations. If you need a city centre location but do not need a lot of space, you may save money by using shared office space.
Many locations offer support grants and assistance for starting and growing your business. Organisations, such as Invest Region Leipzig, offer assistance in all aspects of business establishment and development and can help your business access funding from the regional government and other funding agencies. Invest Region Leipzig can help you through the entire process, connect you with the right organisations to support your funding and answer any questions you have regarding financing and funding possibilities. If you are looking for assistance with funding, or any other advice on business start-up or relocation in Leipzig, please contact Invest Region Leipzig.
2. Accessibility
Accessibility is important for your business location. You could find the ideal bricks and mortar business in your desired location for a reasonable price, but if it doesn’t have any adjacent parking, or public transport links potential employees and customers may find it difficult to reach you.
You should consider access with regards to customer meetings, delivery of supplies, and requirements for a company warehouse or large storage area.
3. Demographics
The demographics of your target consumer and employees should also be considered while selecting a site.
Consider if your employees and customers are likely to live in the local area, or whether they are willing to travel to you. Also consider the skills employees have in the location – are there suitable employees for your business?
When looking for a suitable location for your business access to skilled workers that meet your business requirements is key to ensuring successful growth. Checking the availability of employees in your proposed business location an important step to ensure you can recruit the right team. Invest Region Leipzig can provide you with local employment data, connect you with local employment agencies, and the job centre, and suggest local recruitment events to help you confirm the availability of talent in the region.
Invest Region Leipzig analyse the labour market in the Leipzig region, and provide advice specifically tailored to your expansion project.
4. Proximity to other businesses
When choosing a business location, think about the other local businesses in the area. You should consider whether these businesses will enhance or detract from the quality and culture of your company. You should also thin about whether these firms are competitive enough to lure customers or staff away from your company.
You should also consider what businesses you need access to in order to effectively run your business. If you need to source stock or services, being nearby businesses that offer what you need is important.
5. Competition
Depending on the type of business and industry you operate in, being close to your competition might be advantageous or disadvantageous. If you’re a small business, picking a location near a rival that sells the same products but at a cheaper price may be a terrible idea, as potential clients would most likely choose the most cost-effective choice.
If you know your competition’s location is difficult to reach, on the other hand, you might choose a site that is convenient for clients.
6. Growth Opportunities
Depending on your business goals, you may want to consider the opportunities for future expansion within the business location. Consider the opportunities that location provides in increasing sales, employing more staff, attracting more customers and premises expansion.
Why is the Leipzig region a good business location?
The Leipzig region and its surroundings are now drawing a large number of businesses as well as people searching for jobs and a place to call home. Leipzig serves as a crossroads for important long-distance commerce routes connecting northern and southern Europe, as well as eastern and western Europe. Over time, a great multimodal infrastructure for road, rail, and air traffic has grown out of this foundation.
Together with the regional offices for economic development and local real estate agents, Invest Region Leipzig will find the best location for your company, whether industrial, commercial, laboratory or office space, already developed, or in a brownfield or greenfield site.