Things To Know Before Setting Up Your Business in An Industrial Park
If you’re a light, medium, or heavy industry, you sure wouldn’t be doing operations in a traditional office space. You would most likely be setting your eyes on a manufacturing plant or a factory. But have you ever considered locating in an industrial park?
What is an industrial park?
If you aren’t aware of what an industrial park is yet, it is a specific area in a country that is zoned and planned for the mere purpose of industrial development. Think of it as a more “heavyweight” version of a business and office park, where light to heavy industries do business. Good examples of businesses being located here are plastic manufacturers, food and beverage processors, steel manufacturers, and more.
There has been a surge of businesses that are opting to locate inside industrial parks through the years because it is extremely convenient. Because compared to just putting up a factory in one place, here, you are given an area where you are surrounded by everything and everything you need to operate. It is laid out right in front of you — transportation access, electricity, water supplies, gas lines, waste management, and sometimes, even an on-ground team. Because of this, you will save time, costs, you get access to better facilities and labor, and it is more productive.
However, there are also some things you should know before you choose an industrial park to locate in. All industrial parks and locations have their advantages and niches. If you want the best for your business, tailor it to the best industrial park. That said, here are the things you should know and consider before locating inside an industrial park:
Your Business Goals
First, think about your business goals. What do you want to achieve inside a business park? Do you want more production? Are you looking to export your products? Are you looking for investors? You can also think about the facilities that you need. Do your employees need a transportation system? Does your business need better waste management? Once you’ve laid these out, you will gradually be able to narrow down the deciding factors below.
Now that you’ve had your business goals laid out, it’s time to think about which country can cater to it the best. This is where the research comes in. There are many countries with industrial zones. While all of them are surely great and have a lot of benefits to offer, make sure that you choose a country that best fits your needs.
For example, if you highly value your business being in a strategic location, you may want to consider the Philippines as it is an entry point to almost 500 million people in the ASEAN market. It is also in proximity to major cities like Japan, Korea, and Singapore. Plus, the lifestyle in the country is accessible and convenient if you plan on relocating.
Let’s say that you’ve already chosen a country to locate in. Which zone or region are you going to place your business in? In the Philippines, industrial estates are distributed almost everywhere. From the north to south of Metro Manila and even in Cebu! So, once again, make sure that you choose a place that you can maximize.
Your Workers and Employees
Your employees will be the backbone of your business, so it makes sense to put them in your considerations. If you’re going to be locating your business in an industrial park internationally, it’s best to find a country that has a quality and accessible workforce. Some things you should consider are the literacy rate as it makes communication efficient. And if you’re planning to reel some investors in, it will definitely come in handy. You may also want to consider people with a great work ethic. Do your research on character and compelling advantages. Lastly, professionalism. Let’s say your business specializes in food processing. You’d want to look into places with high rates of graduates in that specific field.
The concentration of medium to heavy work in industrial parks can, however, raise environmental concerns because of the facilities, machinery, heavy transportation, and waste. However, there are many industrial parks nowadays that value sustainability and the environment. Hence, if you want to reduce your carbon footprint, this is definitely something you should consider.
If you are a light to heavy industry that’s looking for a space to do business in, an industrial park may just be the best option for you. Not only does it provide you a space for your venture, but it also offers a plethora of benefits for your business. Even better if you find the perfect industrial park for you. These deciding factors will make the process easier and more efficient!