Small business owners are beginning to appreciate the merits of relocation in order for their business to grow

A new study by ‘Make it Cheaper’ and the Centre for Economic Business and Research has found that more than a third of the 750 small business owners questioned would consider relocation in order to cut costs.

This not the first time that cost cutting has been put forward as a primary reason for the consideration of relocation.

Global economies around the world have been in varying states of turmoil since the financial crisis of 2008. Nobody was able to escape the crisis and pretty much every company throughout the planet, big or small, had to adjust certain aspects of their business to survive.

Ideas such as redundancies, scaling back on orders and unpaid overtime have all been tried in an attempt to deal with the situation. However, these are likely to have had varying degrees of success.

Companies are therefore beginning to assess the merits of relocation, even if that involves moving overseas.

The new statistics are backed up by additional recent research which found that entrepreneurs had expressed their satisfaction that they relocated abroad to start a new business.

The NatWest International Personal Banking ‘Quality of Life’ Index found that 78% of expats felt that faster growth was one of the major advantages of running a business abroad.

22% of those surveyed consider their business prospects for the next 3 years to be either excellent or very good, having already relocated abroad.

USA, Honk Kong and Singapore were rated as the top 3 countries for nurturing enterprise.

There was mixed results in terms of general business prospects though as Canada, Australia and New Zealand were deemed the countries with the most positive business prospects. Portugal, Spain and France performed poorly in this area.

All of these statistics point to a growing trend of business realising that the potential for growth, productivity and ultimately success may be much greater if moving abroad rather than stagnating in a fragile UK economy.