Location is something which is often overlooked when setting up a business because many people usually do not realise the impact that it can have on the success or failure of the business. The location of your business can actually deter or encourage potential investors. When considering location it is important to consider both the geographical location and the overall presentation of your business premises.
Tax Credits & Investor Incentives
If you are in a position where you can choose the city or even the state where your business is to be located, then you should look into some of the things that might attract investors. There are many cities and states which offer financial insentives which will not only help to attract possible investors but which could also provide your business with some additional funding.
It is estimated that there are approximately 3,000 tax credit and incentive programs available across the United States which are sponsored by state, local and federal governments in order to help drive employment opportunities and develop certain industries. If an investor knows that they could be eligible for a tax break in the state where your business is based it will make ivesting in your company much more attractive to them.
Even if you are restricted to running your business in your home town, there are still location factors to consider if you are going to attract investors. The first is to make sure that you choose premises in anappropriate area of town. This is especially important if your business relies on foot traffic. For example, a retail business needs to be in areas where shoppers are likely to visit rather then in an industrial area full of fatories. Similarly, a bargain style retail outlet is unlikly to thrive in a more upmarket neighbourhood and vice versa.
An investor is unlikely to invest in your business if they do not believe it will be profitable because you have not taken the location of your premises into account.
Choosing The Right Premises
Choosing your premesis can have an impact on the impression your business gives to customers, suppliers and investors alike. A cheap office in a run down building does not have quiet the same level of gravitas as a sleek modern office building. This is one of the reasons that many businesses choose to rent office space in an upmarket serviced office complex as it gives them access to services they would probably not be able to afford if they had to supply their own. These services might include access to meeting rooms and conference facilities, reception or conceirge services and other shared facilities.
This allows small businesses to present a much more impressive face to investors and customers. Even if the company consists of just two employees renting a couple of workspaces, they can use the shared amenities to host investors for meetings giniving the impression of a much more luxurious office.
In conclusion, it is important to think carefully when it comes to choosing a location for your business. No only so you need to consider whether it is more beneficial to choose a particular town, county or state, but also the appropriate area of the town. Businesses rely on being able to create a good impression so choosing an impressive office space can certainly help to so this. Serviced offices allow you to make the most of shared amenities at an affordale price with the added bonus of making your business look a little more up market.