06/01/2015 08:36 am ET Updated Dec 06, 2017

Your Business Is Growing and Running Out of Space. Now What?

Owning a business is a great experience, because it can provide you necessary financial freedom, but at the same time it does require a lot of responsibility.

With enough attention and care, all businesses will be able to grow in time. However, at some point the company will become large enough that you will need to move.

If you want to relocate your business the right way, then read on and find some of the best tips to help you make the transition smoothly.

  1. Find the best location
  2. Relocating allows you to start with a clean slate, so find a place that not only is large enough to host more employees and the items in your business, but at the same time opt for a location that is close to your suppliers. Try to think about the infrastructure and choose for a place that's easy to access, yet affordable enough and within your company's budget.

    Image Credit: Flickr, Creative Commons: Sam Lavy

  3. Donate unnecessary or obsolete equipment

  4. As your business grows, unnecessary office equipment will start to accumulate and this is surely something that you want to avoid at all costs. Donate the items that your business won't use any more, so you will have less to move.

  5. Mark boxes

  6. Marking boxes is a necessary thing because this will remove the unpacking hassle. This way you will be able to organize the moving process and make it more efficient, something that's definitely very important. This also streamlines the whole process, which is a major plus.

  7. Wrap electronics individually and remove the cables

  8. Cables need to be transported separately and, while you're at it, you also have to ensure that the computers are packed individually. All of this is so that you can remove them safely and with the best results.

  9. Move furniture first

  10. This comes as a no brainer, but you do need to move the furniture first before any other items. Do this even before purchasing new office furniture, so that you have an idea of where your furniture will be and what you need to fill in. It's a crucial thing to do because you will need office furniture in order for your business to work properly within the new establishment.

  11. Hire a moving company if you can't do it on your own

  12. Sure, moving the company on your own is a great cost-saving idea, but if you lack the time and resources you should leave it to the professionals. Working with a professional moving company will make the transitioning process a lot smoother and faster. If you do opt for this solution, do consider getting insurance, especially if you are transporting valuable equipment.

  13. Update contact information

  14. Once you are settled in the new location, you will have to update the contact information in both the online and offline world. Create business cards with the new location and also update your site, mail signature or other location that included the old address.

  15. Remember to claim the moving expenses tax deduction
Moving your business to a different location is very costly. And although the move may be financially beneficial to your business in the long run, it is still an expense. Make sure to claim the moving expenses on your taxes, but don't claim the move as both moving expenses and business expenses. Even interest on loans during the move may be tax deductible. In a quick move for instance where, a payday express loan is used against your monthly income statements. The interest rates can be high. So deduct it if you can! The interest deduction could possibly pay the gas expense used in hauling your equipment. There are a variety of way to deduct minor expenses. This should never be overlooked. Over the course of 5 years, it could add up to tens of thousands of dollars.