Location Is Key Labor cost isn't everything when it comes to a location for your business
By Jacquelyn Lynn •
Opinions expressed by Entrepreneur contributors are their own.
If labor costs are eating into your profits, is the answer to move all or part of your company to a location where people will work for less?
Possibly, but you have to look beyond the local pay scales and also consider current and future work force availability and characteristics, says Billy Joe Camp, president of World Business Advisors, a site selection consulting firm. "The work force has to be available, or the relocation isn't going to work," says Camp. He adds that wages tend to be standard within specific industries in spite of geography, but there are locations where savings can be made in the nonwage portion of the compensation package.
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