North Dallas has become a stellar spot for business in the Lone Star State. At least 21 companies relocated to North Texas in 2021. With abundant office and commercial space, business friendly tax incentives, a talented workforce, and a diverse mix of industries, North Dallas offers so much to newly relocated businesses. Are you joining the ranks of companies like AT&T, Amazon, and American Airlines who have moved or expanded to Dallas? Here is a step-by-step guide to small business relocation in north Dallas:
- Find your why. Is North Dallas the right place for you? There’s a lot to consider in this region such as the mix of new markets and a wealth of hiring opportunities. Attractive qualities like lower costs of doing business and tax incentives may be enough to draw your small business to North Dallas; Be sure to explore what the quality of life will be like for business owners and employees alike in local communities too.
- Check your moving costs. There are so many moving parts to moving. One of the biggest concerns is the budget for relocation. This budget includes: leasing fees or deposits on the office space, employees’ expenses, potential loss of productivity during the move, and marketing and communication costs for announcing your new location. You’ll also need to consider whether you’ll hire professional movers, or conduct all (or part) of the move on your own. Count up all of the costs for setting up to work in North Dallas before moving.
- Make it official. For a small business relocation in north Dallas, you’ll need to contact agencies that need to know about your move. For example, federal, state, city and county will all need information on your new location. In addition, you’ll want to establish new relationships with local banks and set up new accounts if necessary. If you’re moving to Texas from out of state, you’ll need to register your business. A general business license is not required in Texas, but it’s important to check out the 2022 Texas Business Licenses & Permits Guide, which offers a comprehensive listing of state permits and licenses required for business enterprises in the state. For more information or assistance with permits, contact the Texas Economic Development and Tourism’s Business Permit Office (BPO).
- Establish a timeline, and share it. Before you relocate, get clear on the timing of your move, from start to finish. Update employees on the dates for moving. In addition, you’ll need to update your customers about your relocation and any changes in operating hours or production as you move. Make sure when you schedule your move you keep all of your employees’ and clients’ calendars in mind.
- Get familiar with Texas taxes. Once you’re in your new space, be a great neighbor in North Dallas. Become familiar with your business tax responsibilities. Federal tax obligations are filed through the Internal Revenue Service (IRS). State tax filings are done through the Texas Comptroller of Public Accounts (CPA). If your business trades online, check out the online Marketplace Seller for more tax information. For questions about local business and property taxes, consult your county’s appraisal district or tax assessor-collector. Business owners can find local appraisal district and tax office on the CPA’s website. The CPA also offers helpful tax training.
Joining the Metroplex as an employer is an exciting new adventure. To learn more about business opportunities and relocation requirements in the community of Fairview, click here.