Finding the right premises for your business is crucial. A key decision is whether to buy or rent business property.
Renting business property ties up less capital than buying which means you can invest it in the business instead. It can also give you flexibility to relocate your business easily should you need to.
Choosing to rent business premises
The type of premises you rent and the location will depend on the type of business you are running. The amount you can afford will also be a deciding factor. Remember to take into account extra costs such as business rates, utility bills and building insurance.
This guide outlines the advantages of renting business premises which should help you when deciding whether renting business premises is a better option for you than buying property. It highlights the practicalities of renting business premises and other things you need to consider as a tenant such as commercial property rental agreements and alterations to rental properties.
Structure your business
Name your business
Register your business
Choose your premises