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What Should Startup Businesses Look For In Their Commercial Rental Space?

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What Should Startup Businesses Look For In Their Commercial Rental Space?

  • 20th March 2020

The right premises and location for your business are crucial for attracting customers and employees whilst at the same time significantly influencing productivity. Here, we look at some of the key areas to consider when deciding on a rental property for your business.

 

Location

The location will be dependent on the type of space you need. Do you want retail premises, somewhere to manufacture or just office space? If yours is a retail business, for example, it may be important to find a town centre location. If you have a high volume of goods delivered or collected, easy access and suitable loading facilities will be a high priority. If you are looking for industrial property, then RTC Business Park offers the ideal location for your business and space to suit your individual needs. Our close proximity to major transport links makes our spaces a particularly appealing choice for the manufacturing and warehouse industry.

 

Budget

Work out a realistic budget for your premises. What do you want to spend and what’s the most you can afford to pay? Take into account all the financial aspects of the premises such as rent, rates, electricity bills, phones etc. Here at RTC Business Park, we offer a range of laboratory spaces to rent at competitive prices. The fully equipped laboratory units are set on a discrete site, away from the main office buildings which offer maximum privacy and security. The laboratory spaces can be tailored to suit the individual needs of your business.

 

Lease or licence

Licence agreements are more flexible than leases and are better suited to small, growing firms. They don’t tie you into long contracts, are quicker to sort out and normally incur few or no legal fees. Leases require a much longer-term commitment from occupiers, typically 10, 15 or 25 years. Leases do mean agreed rents will provide more security, giving you a right to renew your lease at the end of its term.