Coffee Break

Know Everything before Your Business Commits to a New Space

So, you’ve decided to take your business into a bigger physical area, both to suit the practical production of your goods, and to make your business seem more bona-fide to potential clients and customers. However, before you do so, you need to make sure you know everything you possibly can about the area you’re moving to. Below are a few areas that you should always consider before committing to a new space.

All packed up, but do you know what you’re moving to?

If you’ve been running your business from your bedroom, front room, garage, or any other room of the like, and now you want to rent an office space, you’re probably very excited. However, you can’t let your excitement make you rush into any decisions — you need to make sure you’re renting the right place. A hugely important factor is the location. Is it easily accessible for both you and any staff, or potential staff, that you employ? Is there a good public transport link nearby? Is there parking available? As well as choosing the best location in regards to accessibility, you have to think about it in terms of the competition and the clientele. What this means is simply: would being based near any rival companies prove to be a problem for you, or would it assist you? And is there a high enough demand for what you provide in the area you wish to enter? For instance, there wouldn’t be much use for a company that deals with the distribution and selling of boats in a city that is two hours from any potential sea to drive said boats in.

You should also know everything that will be required of you once you’ve signed the deeds and documents and moved in. For instance, will you need to have any relevant work done to ensure that it meets the standards demanded of in regards to hygiene? You may have to have commercial cleaning take place in the area to make sure that it is free of harmful bacteria before anybody enters the premises. Because of this, you have to factor in other potential expenses, and not just the costs of the actual move-in.

And if yours is a business that needs as a much space as possible to be able to thrive, i.e. a piece of land, there are a whole host of aspects that need to be considered to make sure you’re both legally covered now, and in the future. An example of this is if there ever comes a time when you have to move on from the site, and if you don’t want to be hit with any unforeseen liabilities relating to any sort of contamination it could be claimed that you are liable for, you need to commission an Environmental Due Diligence report. There are places where you can find Environmental Due Diligence explained simply, so saying you ‘weren’t fully aware of the liabilities you were taking on’ will not cut it when it comes to being accessed of contaminating the area. You also need to make sure your area, no matter what size or what type it is, offers the right facilities to equip your business, as you need to make sure your business is equipped the right way.

All of the above should be remembered when you take your business to a new area, and up to a new level.