Finding the right premises for your business is crucial. A key decision is whether to buy or rent business property.
Is renting property right for my business?
There are a number of advantages of renting commercial property, for example, renting business property ties up less capital than buying business property which means you can invest more money in the business instead. It can also give you flexibility to relocate easily should you need to in order to meet business demands and take advantage of opportunities.
Choosing to rent business premises
The type of property you rent and the location you choose will depend on the type of business you are running. The amount of rent you can afford to pay will also be a deciding factor. Remember to take into account extra costs such as business rates, utility bills and building insurance.
This guide will help you decide whether renting business premises is a better option for you than buying commercial property. It highlights the practicalities of renting business property 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