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Advantages and Disadvantages of Business Relocation to Richmond Hill

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A team discussing about business relocation to Richmond Hill

Canada is one of the favorite destinations amongst business people. Its booming economy and migration-friendly laws make it a great place to start or move a business. And in the whole of Canada, the province of Ontario and its cities like Richmond Hill attract new companies the most. If you’re considering a business relocation to Richmond Hill yourself, you won’t make a mistake, and reputable movers Ontario can help you get there. Meanwhile, here are the things you should know about the city, and the benefits and drawbacks of doing business there.

General information about Richmond Hill

With 202,000 residents, Richmond Hill is the 27th most populous municipality in Canada. It is part of the Greater Toronto Area, meaning that it is conveniently located close to Toronto, only a 48-minute drive away. But the peace, quiet and good location come with a high price, so housing costs are higher than in Toronto, and 20% above the national average. But apart from these facts, are any advantages and disadvantages to a business relocation to Richmond Hill? Let’s see before you hire some Richmond Hill movers and make this place the new headquarters of your business.

Picture of a person getting ready for a business relocation to Richmond Hill
Richmond Hill has a very good location

Business relocation to Richmond Hill has plenty of good sides to it

  • The proximity to Toronto, Vaughan, and Markham – all these cities are great business hubs, and home to many skilled, young people. If you’re moving to Richmond Hill from afar using the services of long distance moving companies Ontario, you will likely lose a few employees due to the location change. If you can’t find an adequate replacement from them in Richmond Hill, you can find it in one of these cities. The commute time is short, so you can live in one place and work in the other without a problem.
  • It’s a wealthy city – this city has an affluent community with 52% of the families who have an income bigger than $70,000. Over 31% have an income higher than $100,000. This depicts that the people living here are wealthy, therefore potentially more interested in the services or products that you offer.

There are also a few bad sides to decision

It’s not just housing that’s expensive in Richmond Hill. As a business owner, you should know that it also costs a lot to rent office space in this city. You can expect to pay from $13 to $85 per square foot for office space, mostly depending on the location. If you have a well-developed business, the moving costs Ontario shouldn’t scare you away. But if you are just starting, you should think it through well.

Picture of a person with a piece of paper on their hand
Business relocation to Richmond Hill is usually a good idea, but not if you don’t have much money to spend

So, is a business relocation to Richmond Hill right for you?

After you have read all of the above, you might still not know whether a business relocation to Richmond Hill is the right decision to make. All the guides and articles in this world cannot decide for you. After doing a SWOT analysis you will know all your business’s strengths, weaknesses, opportunities, and threats, and you will be able to make a decision with that in mind. We wish you good luck and an easy relocation!