The importance of finding the right business premises
Sep 24 2009 By The Journal
FOR some newly-established businesses, finding the right premises that will allow you to effectively run your business is a key decision that will play a crucial role in the future success of any company.
Consideration should be given to the facilities you will need to allow you to begin trading effectively and without excessive costs. Business Link’s website, www.businesslink.co.uk/northeast, has a useful checklist of things you might want to consider when starting your property search. Requirements will differ from company to company; for instance a new retail business will need to have its premises completed before it is able to open its doors to the public, whereas a freelance journalist could easily work from a small office unit, with no real need to invest in decor and fixtures.
A business incubation environment might be the right kind of premises for you. Through these units, the Government provides cost-effective, supportive shared premises which include a range of specialist facilities, such as access to specialist knowledge, equipment and technologies. These specialist business growth facilities can take the form of incubation units, science parks and technology parks and business technology centres.
Business Link’s team of advisers can provide advice on the specialist incubation units in your area.
It is also important that your premises will fit with your medium to long-term plans. Different options suit different businesses; making a decision as to whether to rent premises or buy a property outright is also important.
Choosing the right location can also be something of a balancing act. Ideally, the location should be convenient for your customers, employees and suppliers. There are also many legal considerations to take into account when choosing the place at which to base your company, and again Business Link’s website is a useful starting point when beginning to think these through.
For more information about selecting the right business premises, visit www.businesslink.gov.uk/northeast or call 0845 600 9 006. The UK Business Incubation website www.ukbi.co.uk will keep you up to date with news about incubators.
Jill Lee of Business Link
