As exciting as it may be, on one hand, relocating your business to pretty much anywhere tends to be quite an exhausting challenge. Even if you are moving to another part of the same city, it isn’t a simple task. It is crucial that you bring any disruptions to a minimum, and make sure that your new offices are going to meet both the current and future requirements of your business. Business relocation isn’t something that you will do often during your business career, so the chances are high that this is your first time.
Now, every country has its own regulations and rules when it comes to moving there, especially as a business. Australia is a pretty attractive place both for experiencing a new lifestyle and moving your business into a whole new market. The east coast quite a lucrative location to move to, so New South Wales is a smart decision for where to relocate your company. However, of course, it comes with its own set of challenges that you must overcome.
Entrepreneurs are welcome in New South Wales
New South Wales is just the perfect place for businesses. It offers a variety of appropriate visas that you can apply for in order to properly relocate your business. For example, there is an entrepreneur visa program that is specially created for international innovators. The nomination criteria for this kind of visa is competitive.
What you should know is that today, Sydney is seen as the startup capital of Australia, and provides a great number of options for various business owners. As of May 2016, the business opportunities of New South Wales have been showcased via their industry engagement program. The idea is to present how fruitful the business economy is, as well as other aspects, such as education, healthcare, and so on.
Furthermore, this part of Australia is quite welcoming towards migrant businesses, and keep working on their business migration program. All of this is, of course, done according to New South Wales’ means to stimulate economic development and also follow the priorities of the state.
The visa application process
Of course, as lovely as all of it sounds, it doesn’t mean that it’s simple. First of all, if Sydney is the place you want to move your business to, you need to find the right visa to apply for, and preferably look for a migration agent in Sydney who can help you sort this out properly.
The program that is most well-known for business visa application is the Business Innovation and Investment Program (BIIP). There are two types of criteria that you need to apply for, the New South Wales nomination criteria and the Department of Home Affairs criteria.
It is generally a process that consists of two parts. First, you get a provisional visa (subclass 188) which is applicable for 4 years. With it, you can do any business activities during this period only. The next step is getting a permanent visa (subclass 888). You apply for this one after you have met all the requirements of the previous one.
While you are moving your business to Australia, you need to think about the downtime that you are going to go through during this period. No matter how you decide to approach the whole moving process (do it yourself or hire a moving company), the fact remains that there is going to be a period when your electronics and equipment are going to be packed and on the road to their new destination.
Even when you get there, you will need a certain amount of time to set it all up. So, naturally, due to the fact that your operations were down during that time, your sales will potentially drop, and you will have to work your way back to being at the top, next to adjusting to the new business environment.
So, it goes without saying that relocation is going to cost you a certain amount of money, no matter whether you are doing it on your own or with the help of a relocation service company. Such a company can give you an estimated price, but in the end, the costs will almost always end up being higher than you have planned.
On the other hand, if you decide to do everything by yourself, you have to face the fact that each and every item that you move will be your full responsibility. So, in the unfortunate case where an expensive piece of equipment falls or get crushed during the relocation process, you will have no one to blame and look for compensation from. The money to get a replacement will have to come out of your own pocket.
Finally, once you go through all the aforementioned legal processes and move into the desired space in New South Wales, you are going to have to come to terms with different lease payments, which are certainly going to be higher if your choice was a better or larger area for business.
Moving your business to New South Wales can mean opening your business to many new opportunities, and quite possibly expanding it to lengths even greater than it has had before. However, just like every other relocation process, it comes with its own troubles and challenges.
You need to apply for the right visa and go through the process of having a permanent one so that you don’t have to worry about time limits. Then, of course, there are the costs of the whole process, as well as the fact that you have to account for the downtime while all your equipment is on the move to its new destination.