Business owners delay moving because of the costs, time and hassles of relocating
More than three quarters of small and medium sized enterprises delay moving premises because of the stresses associated with the task, according to a survey by E.ON.
The research reveals that, on average, small businesses moving premises in the last five years have lost 7.5 working days each at a cost of an estimated £40,000 – equivalent to around 2.5% of their annual turnover. The costs account for how much is spent moving and upgrading premises and the losses caused by disruption to businesses.
Moving office is cited as the second most stressful task by 31% of small business owners, just behind hiring new staff at 32% and ahead of handling finances (27%), covering staff absences (19%), and dealing with customer complaints (13%).
As a result, 78% of managers suffer “cramped, dilapidated, expensive or inefficient buildings” with 28% worried about the costs and time involved in moving, and 27% saying they would not know where to start.
A fifth (20%) of small business owner say that dealing with transferring service providers is another reason to delay office moves.
Anthony Ainsworth, business energy director at E.ON, commented: “To hear that more than three quarters of small businesses are staying in potentially inappropriate premises because moving is considered just too hard is surprising. The disruptions businesses face are a very real barrier to relocation and possible future growth.”