Three issues will govern where you start you business: where your customers are, where your suppliers are located, and where your employees live. Added to this set of requirements, you need to be clear about exactly what you need from your premises and the budget you can afford. This guide offers advice on getting the right space, at the right price and in the right location.
In a perfect world your location would be handy for customers, staff and suppliers - in reality you'll probably have to make some compromises along the way depending on the nature of your business. If you're a retail outlet, location will be your deciding factor; you need to make sure your business is in the right place to attract customers. However, if you're running a manufacturing operation that requires a lot of material and regular deliveries the most important issue will be access to good road and transport links. On the other hand, if you're just starting up and finances are tight working from home could be the best short term option.
Start by making a list of your requirements and make sure you cover the following areas:
Before you even start looking at premises to buy or rent, set yourself a realistic budget that the business can afford. Don't forget to factor in these additional costs:
Now you've got a specification for your premises you can circulate it to commercial agents. It's also worth getting in touch with your local Business Link and the Economic Development unit in your local council offices who may also know of suitable premises in your area.
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