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Location and Premises for Start-up Businesses

 

Importance of Business Location

Where a new business start-up requires premises for its operations, the location of such facilities is of obvious importance. The chosen site must provide a convenient point of product distribution, feasible commuting for employees and convey the appropriate image to important stakeholders.

Premises as an Expense

Taking on premises can be a sizable expense of any business yet alone one with little or no income. High street locations might come with substantial premiums attached and be in short supply as well known consumer brands vie for prime position.

Rents and lease premiums have to be negotiated and budgeted for together with the business rates which accompany them. New businesses may receive a difference response to a leasing request than an established enterprise might.

Problems of Start-up Businesses Obtaining Leases

A start-up business might have problems obtaining a lease on premises in cases where landlords judge the venture as carrying a greater risk of defaulting on the agreed payments.

Property owners may in-turn request additional guarantees and security, over and above those usually sought from established businesses to prove that they can meet their contracted arrangements.

Help in Getting Business Premises

Regional development schemes, which focus central government aid to areas of high unemployment and economic depravation, might make the route of securing premises for a new start-up business easier.

In some parts of the country, it might be possible to receive financial inducements for starting a business in these areas and employing locally from an unused workforce.

The types of incentives which might be given in such circumstances could include rent free periods, business rate holidays, or monetary contributions.

Despite the attractive nature of these rewards, the location chosen from which to run a new enterprise must make sense both in the short and medium terms.

 
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