Why Is Location Critical When Selecting Startup Office Spaces?

Selecting the appropriate office space for a startup is an important decision. Executive staff frequently fail to appreciate how location shapes the perception of a company among its stakeholders, its culture, productivity levels, and growth. By carefully weighing this decision, founders can ensure that their business enjoys both short- and long-term rewards. Learning why and how office location matters will help startups find their way to long-term success.

Accessibility for Employees

Talent acquisition and retention are possible when you have an easy-to-access office. Convenience reduces commute time and increases job satisfaction, which is important for employees. Choosing a site that’s close to a city’s main transportation points ensures that employees can arrive and leave on time. Startup office spaces that are more accessible to prospective employees help them clock in on time and enable them to maintain a work-life balance. Attendance and morale become problems for companies that are too far from public transportation.

Impressing Clients and Partners

Business relationships are shaped from the first encounter. Office spaces located in well-known or upscale areas give clients, investors, and partners a reassuring signal of stability and professionalism. Being around other stable firms or in a city’s banking districts strengthens credibility and builds trust. A good business address often reassures stakeholders and brings the company a host of business opportunities. We know that clients prefer this ease of access, as meetings can be held, increasing the overall productivity of a company.

Networking and Collaboration Opportunities

The location of a startup influences its professional networking. Proximity to similar businesses creates opportunities for informal networking. Startups can also share resources with like-minded companies. Events, workshops, and networking sessions often take place at locations adjacent to innovation hubs. Such meet-ups facilitate sharing and collaboration. When a company is located close to potential partners or mentors, it can grow rapidly by creating strategic alliances and joint ventures.

Cost Considerations

Companies with a strategic location enjoy several advantages, but the cost of operating in a fancy location is often high. Startups usually have budget constraints. Though inexpensive spaces may seem attractive, investing in a posh office is crucial for future growth. An office that is located in a cheaper commercial district may lower your company’s brand perception. Operating out of a good yet affordable location is a smart move for young firms. New businesses may benefit from financial incentives or grants available to companies operating in cost-effective commercial areas.

Impact on Brand Identity

The location of a company reflects and shapes its brand image. A trendy neighbourhood brings innovation and modern thinking, while a traditional area might suggest stability and reliability. If your company is located where your clients or potential hires are, it shapes their perception of your company. Impactful spaces echo the values of a company and help the company attract the audience it seeks. A good location that aligns with your business goals helps reinforce your brand message.

Scalability and Future Growth

When selecting office spaces, consider future expansions to avoid moving to a new location later. Commercial districts or spaces offer better growth opportunities compared to other areas. For example, landlords with properties that have vacant units can offer flexible leases so companies can expand easily. Startups that predict their future needs have an easier transition when they need to scale later. A solid plan ensures long-term business and scalability goals can be met without operational disruptions.

Security and Safety

The well-being of employees is a priority. Opening offices in secure neighborhoods lowers safety risks and provides peace of mind. A safe working environment enhances productivity as the likelihood of theft or accidents is reduced. This also helps attract and retain talented personnel. Areas with a good safety record may also enjoy lower insurance costs.

Legal and Regulatory Factors

Some commercial areas must follow zoning ordinances or regulations, which can prove restrictive for some businesses. A startup office should ideally choose a place based on the rules applicable to it. Studying local regulations keeps fines and other issues at bay. In certain areas, tax incentives or grants are offered to support and encourage new businesses.

Conclusion

Location is one of the key components that impact a startup’s success. The right office creates an environment that facilitates growth, improves talent acquisition, and develops a positive image. Startups position themselves for long-term success by taking into consideration accessibility, amenities, cost, and brand consistency. A detailed analysis of these factors ensures that the selected office space aligns with the organization’s long-term goals.

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Cities and Towns Trying to Lure “Pot” Stores to Open in their Community

William E. Cleary Sr. |CNBNews

GLOUCESTER CITY NJ (CNBNews)(June 2023)-In 2021 the state of New Jersey legalized the use and sale of marijuana. Since that time, according to the New Jersey Cannabis Regulatory Commission, there are 24 dispensaries that sell recreational cannabis in the state, along with 13 shops that sell only medical marijuana. (image courtesy of iStock)

That legalization has also seen a rush by local governments throughout the state bending over backwards to attract “Doobie Stores’ to open in their communities. For example, the City of Gloucester City passed legislation in January to amend it Land Development law in order to accommodate the marijuana industry. As such the development of the Southport area, which consist of over 100 acres of vacant land along the Delaware River will now be used to cultivate, manufacture, and distribute, marijuana. The new ordinance allows cannabis businesses to operate with Class 1, 2,3,4,5, and 6 licenses (Cultivation, Manufacturing, Wholesale, Distribution, Retail, and Delivery.

For 37 years, the City promoted an idea to develop that once-industrial site into upscale housing, a waterfront marina, and a retail district. The city spent thousands of dollars on architects, engineers, and development plans for that purpose. In 2005, the site was named “THE GLOUCESTER VISTA.” Shortly after, a new Democrat mayor, William James, and the city council were elected, announcing that the area was so toxic it would take over a decade to remove the chemicals.

Continue reading →

NJBIA Coronavirus Survey Finds Most Businesses in Need of Assistance

A survey conducted by the New Jersey Business & Industry Association finds that 93% of members who responded either are already negatively impacted by the coronavirus health crisis or anticipate being negatively impacted in the near future.

At the same time, most respondents say they will need to cut costs due to coronavirus-related hardships, including a reduction of staff, hours, benefits and other remedies.

Members also described in detail their most critical issues, showing a vast number of impacts from businesses from varying industries.

\”The concerns of our members are extremely clear during this unprecedented time,\” said NJBIA President and CEO Michele Siekerka. \”They are highly concerned about the overall stability of their businesses and the welfare of their employees.

\”We are pleased to see the efforts of our policymakers and our state agencies, thus far, to address the economic impacts the coronavirus is having on our job creators and their workers. As these plans and protections are gathered and expedited, it is critically important to recognize how the uncertainty and vulnerability of our employers impacts our overall economy in New Jersey.\”

Survey results

When asked to what extent has your business been negatively impacted by the coronavirus:

54% said they have already been negatively impacted

39% said they anticipate being negatively impacted in the near future

7% said they do not anticipate being negatively impacted

When asked how they will respond to the negative business impacts caused by the coronavirus (respondents could select any or all options that applied):

40% said they will need to reduce staff

37% said they will need to reduce employee hours

12% said they will need to reduce benefits

24% said they will do nothing

Another 37% listed \”other\” additional remedies to accommodate the impacts including: needing to temporarily close; relying on personal savings and credit to pay bills; negotiating with vendors, landlords and utility companies; adjusting service levels; reducing expenses; increasing spending on cleaning and disinfecting; increasing remote working.

In separate questions, a majority of respondents said they were unsure, at this juncture, whether they would need gap loans or waivers of workplace compliance requirements due to the fiscal impacts brought on by the response to the coronavirus.

Most critical issues

NJBIA also asked members to explain what the most critical issues to their business are as the association works with policymakers and state agencies on responses to address the economic impacts of the coronavirus.

A few notable entries from the hundreds of responses included:

\”Trying to keep up with payroll, taxes, health ins., vehicle ins., fuel, worker\’s comp ins., vehicle payments, vehicle registrations, and all State associated fees with licenses and registrations. If we can\’t access the customer\’s property and/or an employee gets the illness, this will put us out of business.\”

\”Besides health of employees, worry about supply chain interruptions. If say UPS goes down, how will I deliver products? What if my suppliers are closed?\”

\”Unable to provide home based services as usual.\”

\”Business customers and my employees being able to work if kids are home from school.\”

\”Personal protective equipment for my team of healthcare workers. We can\’t get level 3 masks right now.\”

\”Cash flow if sales decline.\”

\”The phone has stopped ringing, people are not spending money.\”

\”Access to short-term financing.\”

\”As a supplier of printed material for many local NJ businesses, we are expecting a significant loss of revenue due to cancellations of events, trade shows, etc.\”

These survey results were fielded from 336 respondents from March 13-15. NJBIA will keep the survey open to its members to acquire additional input.

\”We want to ensure that we are relaying these impacts in real time and working with our members and all levels of state government to bring the assistance needed to secure New Jersey\’s workforce and economy,\” Siekerka said. \”We also continue to update our comprehensive resource page at

www.njbia.org/coronavirus

.\”

Philadelphia CBP Seizes $113,000 in Atlanta-bound Counterfeit Designer Brand Handbags

March 19, 2020

PHILADELPHIA

– U.S. Customs and Border Protection (CBP) officers seized a shipment of 32 counterfeit designer brand handbags March 10 that arrived in Philadelphia in an express delivery parcel from Turkey. If genuine, the handbags, which were destined to an address in Atlanta, would have had a manufacturer suggested retail price of $113,683.

This is the second significant shipment of designer brand handbags that CBP officers recently seized in Philadelphia, following the

$317,080 in counterfeit designer brand products

officers seized February 24.

CBP officers initially examined this latest shipment on February 26. The shipment contained 31 Louis Vuitton handbags and one Gucci handbag. Officers detained the shipment due to the poor quality and packaging of the merchandise.

CBP officers worked with CBP’s Consumer Products and Mass Merchandising

Centers for Excellence and Expertise

, the agency’s trade experts and verified through the trademark holder that the products were counterfeit.

CBP protects businesses and consumers every day through an aggressive

Intellectual Property Rights (IPR) enforcement program

. Importation of counterfeit merchandise can cause significant revenue loss, damage the U.S. economy, and threaten the health and safety of the American people. On a typical day in 2019, CBP officers seized $4.3 million worth of products with Intellectual Property Rights violations. Learn more about what CBP did during \”

A Typical Day

\” in 2019.

“Customs and Border Protection officers encounter a wide variety of counterfeit consumer goods, like these trademark-infringing products, and we continue to work with our trade and consumer safety partners to identify and seize counterfeit products,” said Joseph Martella, Area Port Director for the Area Port of Philadelphia. “CBP urges consumers to protect their families and their wallets by purchasing authentic goods from reputable vendors.”

CBP officers and U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigation (HSI) agents seized 27,599 shipments containing counterfeit goods in Fiscal Year (FY) 2019. The total estimated manufacturer’s suggested retail price (MSRP) of the seized goods, had they been genuine, increased to over $1.5 billion from nearly $1.4 billion in FY 2018.

Additionally, HSI arrested 256 individuals, obtained 197 indictments, and received 157 convictions related to intellectual property crimes during FY 2019.

The People’s Republic of China remained the primary source economy for seized counterfeit and pirated goods, accounting for a total estimated MSRP value of over $1 billion or 66 percent of the estimated MSRP value of all IPR seizures.

CBP\’s

border security mission

is led at ports of entry by CBP officers from the Office of Field Operations. Please visit

CBP Ports of Entry

to learn more about how CBP’s Office of Field Operations secures our nation’s borders. Learn more about CBP at

www.CBP.gov

Follow the Director of CBP’s Baltimore Field Office on Twitter at

@DFOBaltimore

and on Instagram at

@dfobaltimore

for breaking news, current events, human interest stories and photos.

U.S. Customs and Border Protection is the unified border agency within the Department of Homeland Security charged with the management, control and protection of our nation\’s borders at and between official ports of entry. CBP is charged with securing the borders of the United States while enforcing hundreds of laws and facilitating lawful trade and travel.

What Every CEO Needs to Know About Cybersecurity

Companies often push cybersecurity aside, but CEOs are responsible for helping teams create and implement effective cybersecurity and risk management plans.

Gloucestercitynews.net-(March 19, 2020)–As companies continue to expand their information technology resources, cybersecurity measures can often get left behind. CEOs are forced to focus on the more pressing matters of business as usual, and IT departments are floundering to provide the most effective solutions possible without the support of executives. Instead, an effective approach to cybersecurity begins with the CEO. Your involvement in creating and implementing cybersecurity measures in your organization has a profound impact on how well those security measures work. Unsure of where to begin?

Krystal Triumph with

Atlantic-IT.net

in New Jersey shares what every CEO should know about implementing cybersecurity measures for your organization.

Start with a Risk Assessment

It is difficult to make a plan and take action if you aren\’t aware of the risk your company faces. Work with a managed service provider or your IT team to perform a risk assessment and determine which aspects of your company are most exposed. Are there areas of your company that aren\’t up to current compliance standards? Is lack of knowledge among executives and workers putting your data or finances at risk?

Establishing an effective security protocol in your organization starts with you. Many of the risks organizations face when it comes to cybersecurity are a byproduct of human involvement (phishing emails and social engineering, for example) or lack of communication between your IT team and key decision-makers. Both issues can be resolved through your involvement in establishing a risk management protocol and emphasizing the importance of training both executives and employees in cybersecurity measures.

Train Your Team

Now that you have a better understanding of the threats, or potential threats, your business faces, it is important to pass this knowledge on to your executive team and your employees. Teach your team about the risks of cyber threats and how they could impact your business. It is especially valuable to teach the entire organization how to recognize and avoid phishing emails and other social engineering schemes. According to the most recent data, one in 25 branded emails is a phishing scheme. That means those in your organization who receive far more emails than 25 per day are putting themselves and your company at risk if they lack awareness of phishing tactics.

Develop a Plan

Part of your risk assessment and training process should be working with your IT team or service provider to develop a plan for

IT risk management

and disaster recovery. Should the worst occur, what actions will be taken—and by whom—to either mitigate the risk or recover any lost or damaged data?

By building a plan of action, you provide peace of mind for yourself and for your team knowing that you are in control of how your data is used, where the risks are currently and where they could be in the future, and how to efficiently manage those risks. In order to better navigate the potential for employee-related risk—at least 78% of cyber espionage attacks start with phishing—make continual employee training a part of your risk management plan. Onboarding new employees should involve training, as well as regular updates for both employees and executives.

Create Clear Communication Pathways

In order for your risk management plan to be most effective, you will want to establish who on your team is responsible for each level of communication or risk. Which risks can be dealt with by your cybersecurity team and which risks require executive-level involvement? Assign roles that allow your team to understand exactly what their responsibility is in the face of cybersecurity risk.

With a plan in place and responsibilities clearly delegated, your team will have the tools they need to play their part in managing and mitigating any potential cyber-threats your company faces. Be sure to regularly review your plan and communication pathway, or partner with a managed service provider to delegate the task of consistent monitoring and management of your cybersecurity plan.

What you should take into consideration when setting up a business in Gloucester

If you are planning on setting up a business, there are many things that should be taken into consideration. This includes the kind of business you want to run, the costs, the legal side and much more. Since there are so many things to deal with, it can be overwhelming – but not to worry, we will look at the basic points to help you get started.

In this article, we will discuss what you should take into consideration when setting up a business in the Gloucester area.

Decide what kind of business you want to run

If you are planning on setting up a business, the chances are you’ll have a clear idea of the sector or industry you will be operating in, and have some experience of it. The importance of doing your research can not be underestimated. Speaking to other local business owners can be a good idea, as can mentors and start-up advisors. If you are unfamiliar with the Gloucester area, get talking to business owners in the local area and find out how they are doing.

An important consideration is the structure of your business. You can choose to be a sole trader, a limited company, partnership, LLP or other business structure. It is best to seek professional advice to work out which of these may be best for you. If your employment status changes, for example you decide to go self-employed, you will need to let HMRC know.

Create a business plan to follow

The next thing that you should take into consideration when it comes to starting up a business is to make sure that you write a business plan. This can help you to ‘map out’ your business and what you will need to do to give it the best chance of success. When it comes to creating a business plan, you should make sure that you set some realistic, measurable targets that you want to achieve and when, so you can work towards them.

Find a business premises

You will need a space from which to operate your business, whether you’re looking to start a retail business or become a consultant and work from home.

Do some research into the commercial premises available in the area and look at the

Gloucester City Council

website for information on business rates in the local area.

You will need to make sure you have the correct insurance for your business premises.

Get your financial systems in order

It is wise to start looking into things like setting up a business account, book-keeping software and seeking the advice of an accountant early on to make sure you are following the correct procedures.

Start off on the right legal footing

Having proper protections in place such as well-drafted terms and conditions and supplier contracts can help you to avoid issues like cashflow problems. A business lawyer will be able to help you with this.

If you are processing data, you should make yourself aware of your GDPR and data protection obligations.

You should also ensure your intellectual property is protected and managed well; this can involve everything from your logo and branding through to articles you write or products you make. If you think someone is infringing your intellectual property, you should “

take action to draw this to the attention of the infringing party, and enforce your rights

”. (Source:

Willans.co.uk

)

The legal considerations for business owners are numerous and too many to list here; it is important to seek advice from a reputable law firm. Look at online reviews of law firms that work with businesses in your sector, and ask friends and contacts for recommendations. It can be useful, though not essential, to use a law firm local to you, especially if you are looking to have face-to-face meetings with your legal advisers.

Keep this information in mind

Overall, there are a lot of things that you will need to take into consideration when it comes to running a business. If you are thinking about starting one soon, keep this advice in mind, and remember to consult professionals for tailored guidance.

Image; Pixabay

NJBIA Statement on Senate Economic Relief Actions in Response to Coronavirus

NJBIA President and CEO Michele N. Siekerka, Esq. released the following statement in response to a series of economic relief actions announced today by Senate President Steve Sweeney.

\”NJBIA thanks Senate President Sweeney for consideration of these much needed economic initiatives, which will help both employers and employees during these extremely challenging and worrying times for small business in the state of New Jersey.

\”In no uncertain terms, many of our members are telling us both directly and through our polling that they have serious concerns about the stability and solvency of their operations, both in the short-term and the long-term, due to the overall response of the coronavirus.

\”We believe the protections and extensions proposed today are a start toward helping to mitigate some of the negative economic impacts being experienced, or soon to be experienced by our job creators, workers and their families as we go through this together.

\”NJBIA is grateful to our policymakers for their continued consideration of ideas and proposals that can help the business community and we look forward to further working with them as they come to fruition.\”

Guest Opinion: Let\’s Not Panic

Well, I\’d have to say that 2020 is off to a hell of a start. From giant fires ravaging the country of Australia, the death of NBA icon Kobe Bryant, the Coronavirus, stock market volatility and of all things, Prince Harry wants out of the royal family!

Here\’s what I know; I\’m grateful for today and I\’ll take it as it comes. I\’m not

going to play into the fear-mongering on social media when it comes to stock market declines or Coronavirus. My solution is pretty simple; diversify, buy real estate for cash flow, wash my hands frequently and keep trucking along.

On Facebook this week I saw a lot of stoking the fire of fear when it comes to stocks vs. real estate. I don\’t agree with that tactic as I continue to own both stocks along with my real estate. Maybe it\’s the former financial advisor in me, but I don\’t get too emotional when it comes to investments. I make decisions based upon data and return on investment and believe me when I say, that this wasn\’t learned overnight. I got absolutely destroyed in the recession and learned some painful lessons about emotions and following the crowd.

This week I posted on Facebook about a partial note with a 12% yield that we were looking to sell and I had multiple IRA holders in my network reach out to purchase it. If you don\’t know what a partial note is, you can learn more about that

HERE

on our YouTube Channel, but in a nutshell it means that I\’m selling a portion of the payments on a note that I own for a period of time. These are ideal for IRA holders that may want to hold some cash flowing assets in their portfolio along with their stocks and bonds. Did you know that you can also hold these assets in an account for your kids, HSA, Roth or even 401k?

I don\’t think you should have all of your eggs in one basket which is why I own different businesses, stocks, bonds, notes and of course real estate. If you are interested in adding some notes to your portfolio as an income producer, reach out and let\’s schedule a call to learn more about your investment goals to see if they\’re a fit.

It\’s a crazy world we live in and that will continue on. I\’m grateful to have you in my network and I hope you stay healthy and happy!

PS: Don\’t forget to wash your hands! 😉

Regards,

Ben Fredricks

Odell Barnes REO

www.OdellBarnesREO.com

DLA Piper Opens an International Cannabis Law Practice

(Gloucestercitynews.net)(March 13, 2020)–No one can ignore the growth, size, and importance of the global cannabis industry anymore, especially when it comes to the medical cannabis market. Scientists keep on proving the health benefits of cannabis use, thus creating entirely new types of alternative treatments. That is the reason why a lot of companies and startups start to invest in the industry.

One of them is DLA Piper.

DLA Piper

, one of the biggest and well-known law firms in the world, has started an international cannabis practice with a team that will comprise more than 70 lawyers. They will be operating in more than 15 countries across Europe, Australasia, Latin America, Asia, and Africa. The decision came after closing a large number of deals that brought the firm over $8 billion.

The team will be led from Canada by Toronto based partner Robert Fonn and from England by London based senior associate Dylan Kennett.

DLA Piper’s life sciences sector team is one of the biggest of any law firm. Considering that the

cannabis industry

has become one of the fastest-growing ones, it is no wonder that one of the largest law firms wants to take advantage of it.

DLA Piper will continue advising on a range of legal matters in the cannabis industry, including the changing regulatory environment around the world, thus helping its clients understand and keep up with all legislative regimes in the growing industry. It will also focus on the medicinal products market, publicly acknowledging the proven benefits of cannabis and supporting further research.

It is expected that more and more companies and brands from all industries will follow in its footsteps. This is inspired by the predictions for the cannabis industry for the next decade. It appears that Europe has the potential to become a market leader, and everyone is watching closely.

Let us take a look at some predictions.

According to some estimates, spending on legal cannabis globally will reach $66.3 billion by 2025. The recreational cannabis market will cover 67% of the spending, while medical cannabis and the

CBD market

will cover the remaining 33%.

Other predictions say that the European cannabis market will reach $136 billion by the end of 2028. The United Kingdom’s market should reach

£2.31 billion by 2024

, and if Germany joins the legalization trend, its market could reach

$9.39 billion by 2028

On the other hand, Asia’s medical cannabis market could be worth $5.8 billion, Oceania’s cannabis market could reach $2.7 billion, and Thailand’s cannabis market could hit $661 million by 2024.

There is no doubt that the cannabis industry will become one of the biggest industries in the world, especially if it continues to grow at this rate. One thing is certain as well: all of those deciding on this venture are going to need professional legal advice.

images courtesy of unsplash.com