Looking for the perfect space for your startup?
Transmit Startups
If you're looking for a loan to get your business started, or in your first two years of trading, we can help!
Before the overwhelm sets in, we've broken down to 10 things you need to know, to make choosing your premises not-so-hard-to do.
Here for a #quickwin? Grab our top 3 tips at top speed:
1. Is the location easy to get to?
Not all areas of the country are equal when it comes to offering the conditions required for a small business to succeed.
No matter what sector you’re in, you need to consider access. Can your customers get to you easily? What about your staff? Do you need access for deliveries?
Things to look at:
2. How long is the lease?
If it's still early days for your startup, it's important to retain as much flexibility as possible.
Your business could grow more quickly than you anticipated, meaning that you'll soon outgrow a tiny premises. Or, if you don't have as much success as you hoped, you may no longer require as much space or wish to terminate the letting in its entirety.
Tip: Try to negotiate a tenant-only break clause at a specific point (for example, after three years of a five year lease). This means that if you need to end the lease early, you won’t be penalised.
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3. Add up all the costs (yep, all of them)
When it comes to budgeting for business premises, there's more than just rent to calculate. Find out as much as you can about the following costs associated with any premises before you make it your HQ.
If you’re worried about covering the bills for your small business, you may be able to get a discount from your local council, known as business rates relief.
Thanks for reading!
See you next time,
Team Transmit
To borrow between ￡500 and ￡25,000 at a fixed 6% interest rate, get your Start Up Loan application started here: https://www.transmitstartups.co.uk/apply