Where Can I Run a Business From?

Where are you going to set up in business?

• Buying or renting premises?
• Serviced offices
• Working from home

Buying or Renting Premises.

Several new businesses start in spare rooms or garden sheds, but many start in small business premises where a feeling of independence can be gained and the 'right impression' given to customers, clients and prospective employees.

Acquiring suitable property can involve considerable outlay, so care is needed to ensure that expensive mistakes are not made.

The new business should consider modest premises where overheads such as heating, lighting and rates can be kept to a minimum. There is little point in moving into premises where much of the space is unused, yet has to be heated and paid for!

Should you buy or rent?

Generally the latter is preferred by new businesses. This is because buying a property involves either a capital outlay or borrowing capital, or a mixture of both, which means less capital for buying stock and equipment.

What is a Lease?

A Lease is a contract between the property owner (landlord) and the occupier (tenant). The Lease document states the rules and regulations of the occupancy as well as confirming the amount of rent. Because the lease is a contract, either party to it can be sued by one another.

Rates.

Rates are a form of tax and are paid to the Local Authority as a contribution towards the costs of providing services for the district such as street lighting, refuse collection, etc. There is a legal requirement to pay rates and unless arrangements are made otherwise, the Local Authority will bill the occupier. The amount of rates depends on the type and size of property and not the ability of the occupier to pay, so the more modest the premises the lower the level of rates.

Repairs and maintainance.

Consideration must be given to the repairs of premises. As a tenant you may be responsible for some or all the repairs, and as an owner, you will certainly have to carry out all repairs. It is wise therefore to have premises surveyed prior to buying or leasing.

Establishing your own business has many advantages and one is being your own boss, and this will be brought home when you take occupation of your first business property and put your name over the door. However, there are many pitfalls in acquiring suitable premises and advice should be sought before any commitment is made. Location is usually the most important aspect of a retail / service business premises.

Serviced Offices

Serviced offices provide immediately available and fully fitted turnkey offices, with telephone answering and secretarial services also available. Serviced office customers range from large blue chip organisations that need local representation, space for a project team or a short-term office to small start-ups that require space from one to 100 people.

Running a Business From Home.

If you are seriously considering giving up office life for home, there are several important issues to work through first. The most important of these is why you are doing this. The reasons are numerous but mostly boil down to a better working environment; a cheaper operation; possibly a forced option by a spouse or even that you are starting a family and facing a major life restyling.

Whatever your reason, sit down and think carefully about why you are making the change and what you expect to get out of it. Better environment Working from home generally does mean a better working environment you will hear the sighs of envy as office folk call you on a hot summer's day and you are lying in the garden taking their call. But what is good for office hours may not be so idyllic for home life. An office in the front room makes it extremely hard to say goodnight at the end of the working day. Likewise receiving work calls on your private line means that people will feel free to call in evenings and weekends then they will be most surprised if the call is answered by a grumpy other half.

Loneliness
Working at home can also be quite a lonely experience gone is the office chatter, gone is the office politics. Instead you can be left in a vacuum, wondering what is happening and what decisions are being made on your fate without having the casual opportunities to put your side of the story. Plenty of homeworkers are desperate for company by the end of the day an understanding partner is essential. Alternatively, a good social life to make sure you do escape is also good.

Costs
Working from home is generally cheaper - no commuting costs, no office rental and can be the answer for those first starting out. But, again, remember there will be a cost somewhere. You will need the right equipment - using a dining room or kitchen chair or propping the computer up on the coffee table while sitting on the sofa are not good options.

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