Despite heaps of ambition, determination and a fair amount of know-how, chances are your start up will face hardship.
Due to the impact of economic upheavals like Brexit, start ups will need a good deal of assistance moving forward to navigate the fall of the sterling and trickier trading. Although the government will be offering fund support for the start up, it will require a good deal of time and patience before your new business can fully excel.
In running a start up, few things are certain. While there are a host of ways to get your start up known locally, resources are inevitably limited when compared to the bigger firms.
Inevitably, securing business premises becomes something of a grey area. Below are a few reasons on why renting commercial property is vital.
Room to Adjust
Negotiation is a vital part of securing any decent deal. You can’t go out there expecting fair deals by the dozen, and as a start up with limited resources, it’s important any agreement struck doesn’t cripple your assets. Additionally, commitment at this stage isn’t fully healthy, and may end up bottle necking your business.
Renting commercial property can come in the form of a licence agreement, a temporary fixture that better suits the smaller start up. While it does open the possibility of short notice eviction, your company is not tied to a lengthy contract. This will benefit your start up, with the company constantly evolving and reshaping and thus able to relocate at a moment’s notice.
No Maintenance Fees
Purchasing a home or commercial property comes with many additional responsibilities. Even a solid buy isn’t truly a onetime transaction, and often the problems can only escalate from there. When the heating’s failed or the carpets worn through, a load of faff can arise.
Being granted access to the premises is great, but swerving around all the building maintenance work is better. Put simply, your start up isn’t responsible for building management, saving both time and money here in dodging this admin. Of course, neither is something your young company can afford to waste.
No Shortage of Offers
Of course, the buy is an act of long term commitment that not all businesses adhere to. Consequently, things can get very risky should the time come for retirement and selling assets. Despite your generous offer in selling, it’s possible none would buy your building, with only a pile of ownership fees to keep you company.
However, renting comes with a host of offers. Companies such as LCP list commercial properties in droves, a wide array of locations to choose from. Additionally, search results can be refined by size, town, county or postcode, meaning that a small start-up can pinpoint its perfect location. Ultimately, businesses bounce around here with freedom and without risk, not pressured to sell the building on.