Q: What are the most important things to look for when looking for office space? And how would you recommend going about it?
Sep 22 2008
Answered by: Marc Barber Ask a question
The oncoming recession means more businesses will be using serviced offices, virtual offices or even working from home - but if you're set on an office, there are some guidelines to follow.
Firstly, you need to look at location. If it's a shop, does it have the necessary footfall to guarantee good custom? If you have lots of client meetings in the office, does it create the right impression. Conversely, if you're not customer facing, you might want to go for somewhere plain and simple with low overheads.
Think about your suppliers. Costs can be reduced if your business is located near the source of supply. This can be either the main distributor of the item or where the item is grown or produced.
Don't forget that certain areas will allow you to claim government funding. For instance, the government has designated some poorer regions of the UK as assisted areas. These are parts of Cornwall, West Wales and the Valleys, the Highlands and Islands of Scotland, the whole of Northern Island, and various parts of England, including Yorkshire, Tyneside and Wirral.
The government has also created 2,000 enterprise areas. If you locate your business in one of these, you may be eligible for grants or loans from, say, a community development finance initiative.
It's also worth noting that the UK is divided into nine regions, each with its own Regional Development Agency. Locating an RDA area that supports your particular industry or sector could give you access to funding, a skilled workforce and suitable premises.
To summarise:
- You need to think about the relevance of the location to your business
- Convenience for you and your employees in terms of transportation
- The actual cost of the property and the lease (don't get locked into a long-term contract as that can be crippling)
- The potential grants and loans available given the area
Also see: Q: Is there a minimum amount of office space you have to allow for per person?
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