This article looks at starting a business, and the property considerations which go with a business start-up. Starting a new business is a daunting task, with many considerations regarding money, location and property, but there is help and advice out there, you won’t be on your own. The government offer a good general and legal advice site for new businesses.
Premises for a new business.
There are many things to consider when going into business, and premises can be one of the most important. In order to go into business, you have to decide how much money you have available for premises, as well as what type of business you are going into, and also location. It’s best not to rush these decisions but to think and talk them through with your business partner or advisor.
As you make your decisions on the best location for your business, and what type of premises you need and afford, when you come up with your final plan you need to look for commercial property for sale at a price that you can afford.
Where to look for premises.
You may be dithering over whether to rent or buy, the best way to go is undergo some extensive research on finance. Business Wales also offers a useful guide to choosing business premises, which is generally applicable to the rest of the UK.
Considerations for the right premises.
If you get the right help and advice with your new venture, and thus the right premises, your dreams of successful business and financial fortune will be a step closer. What is important is that you understand what will work for your new business. The premises that you take on should accommodate the business with comfort and without creating excessive overheads. The property should be legally suitable for the business that you are running, for example industrial, machinery and fire regulations should not be breached.
The future of the business, such as expansion should be taken into consideration, and facilities should be suitable for the number of employees, contractors or people onsite. Access should meet the requirements of vehicles, visitors and deliveries to the building. Transport links should also be taken into consideration, as remote and hard to find premises will lead to higher overheads. The premises should have adequate utilities for the demands of the business.
Business and insurance rates for premises can also be a deciding factor in where you choose to locate.
Competitors are always another factor. For example, if you are a new fabric warehouse, you don’t want to take a property in between two established fabric warehouses.
There is limitless commercial property for sale but it is important that you make sure that you choose a premises that really meets the requirements of your business and enables keeping overheads to a minimum.