Moving your business from one state to another is a complicated process and will take some careful planning to accomplish successfully. When moving the company you have to take into account the many costs, whether or not to move any of your employees and legal entity changes all into account. The type of your business will mostly provide you with some guidelines on how to perform the move. You’re business unless its a sole proprietorship is organized under the laws of the state that it is in. Moving to another state you have several options that you can use to move your business to that state.
Begin by planning ahead
It is a good idea to go over the logistical ideas of where you plan to move your business to a few months before you begin the move. Do some research on the taxes to avoid any additional unforeseen expenses and identify and tax incentives that you will be applicable for when you move there. If you need retail space, spend the time to look around your new city and find a place that best suits your demographics and budget as well as to sign the lease which will start shortly before you move into the building.
Re-Register your business
You will have to re-register your company after you move to your new state. If your business is a partnership or sole proprietorship, then you will have to file a DBA declaration. If you run a limited liability company or a corporation, then you will have to take more complicated legal steps to move your business.
Consider your staffing options
If you run a business by yourself, then staffing is not going to be a problem, but if you have employees, you should consider if they can travel to the new location or telecommute. If they can’t, then you will have to hire new employees. Finding new staff from afar can be very difficult, so we suggest you use an agency to help you find some temporary workers. If you have to lay off employees, do in in a way that helps maintain positive relationships and avoids legal problems.
When you move to a new state, you might not be able to count on your local customers, so depending on your business you might be starting from the beginning all over again when it comes to customers. As soon as you move to your new state you should focus on efficient and impactful local advertising promotions, such as custom coupons, Groupon deals of discounts for your goods and services. Contact your local chamber of commerce to get in touch with local business leaders who might be able to help you with to gain some traction in your business.
It is a good idea to discuss with your lawyer before moving your business so he can help you with some of the legal issues involved and it could save you a lot of money and taxes.