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1. The local pool of employees has been exhausted. Certain locations may restrict a business’s options when it comes to procuring a specialized labor force. A shortage of qualified workers can prevent growth, and relocating to an area where there are more applicants that meet the firm’s specific needs is a common reason for a business to seek a move.
2. Operational costs are too high in the current location. Real estate and cost of living in certain areas may become too high for a business to reasonably sustain over the long term. A company that makes a move to a less expensive area within a reasonable proximity to its client base may be able to significantly cut costs and raise profits.
3. The company is expanding. In some instances, a business’s facilities simply become too small for its staff to operate. Overcrowded offices can diminish productivity, and many businesses look for new locations to provide themselves with the opportunity to scale the company comfortably.