Manhattan surely is one of the best locations to move your business to. There are plenty of reasons why this is so. Manhattan is one of the biggest business centers in the world. This makes business development a lot easier as partners are much easier to find as well as customers as the market is huge no matter what your business is. New York City is a city with millions of people. This is exactly why there are so many successful businesses in NYC. But you have to know a thing or two before starting or moving your company to Manhattan. And we decided to tell you five things you certainly need to know. These are just some disclaimers to have in mind in case you have been thinking about relocating your business. If you want to keep leading a successful company that brings you income, these are definitely things you shouldn’t disregard. Developing your business in NYC is easier but it isn’t easy. We will also mention the reasons why this is so so keep on reading.
Cost is much higher than you might be used to
Depending on where you are moving your company to Manhattan from, the cost of living here will shock you! New York City is one of the most expensive cities in the country. And this is not only when it comes to food or housing. Everything is very expensive here.
Let’s start with real estate. As a company, you will surely need some sort of an office or a commercial space. This is a necessary thing to have when you are moving a company. You need somewhere to move it to. To rent out a property, you will need a couple of thousands of dollars a month. Especially if we are talking about moving your company to Manhattan. Manhattan is the most expensive part of New York City when it comes to commercial real estate. Purchasing an office would be too big of an investment to make when moving your company to Manhattan. This is something we would advise you to give some time to. Owning property in Manhattan comes at a much larger cost than you would think. Which is exactly the next thing we have to mention.
Not to forget to mention the fact that the office you might be able to afford might be too small for your needs. And if you want to keep everything in one place, this is not a good idea. But you can always find a solution. Rent out a storage unit and have everything in one place!
Taxes are very high
One of the most important things we have to tell you before you decide on moving your company to Manhattan is that the taxes are very high. Much higher than in some places in the country. If you are moving to Manhattan from Florida for example, this will be a drastic change you will need some time to adjust to.
This means that the first couple of months of having your company in Manhattan might be harder than anything you have done so far. You will most likely be spending money more than you will be earning any. This is not something everyone is ready for. If you have a small business, Philadelphia might be a better option.
Moving your company is not such an easy task
The third thing you must be aware of before moving your company to Manhattan is that moving your company won’t be such an easy task. There will be a lot of paperwork to handle, things to organize and pay for. One of those things certainly is moving services. Moving your company to Manhattan from anywhere in the country or the world won’t be possible without the assistance of professional movers. Luckily, Heart Moving Manhattan is there to assist anytime!
You need to work harder than anywhere if you want to succeed
Since this is a very busy market when it comes to everything you need to be prepared to work harder than ever! No matter which type of business you have, you will have to give it all in order to keep your business working. This is because the competition is huge. There are companies from all over the world with offices or headquarters in New York City, Manhattan to be more precise. Most of them have been there for dozens of years and have a steady positive income as they have plenty of partners, clients, or customers.
As your company will be new among them, you will certainly have to do a good job in order to push through this crowd. This means non-stop working, organizing, checking that everything is the way it should be, marketing, hiring new, better employees, and so on. You know what it takes to run a business but after moving your company to Manhattan, you have to double the amount of work!
It will pay off in the end
Moving your company is not easy but it is possible. And with a lot of effort, this will all be worth it! Manhattan is a great place to have a business in. No matter what type of business we are talking about. There are plenty of cons to having a business here but the pros outweigh them. But unfortunately, there are a lot of businesses that don’t make it in New York City. Hence why there are so many NYC businesses relocating to Philadelphia and other similar states.