Business premises | NatWest



 

Finding the perfect business premises

There are lots of factors to consider before you decide on your business premises.

Add your signposting title here… Key requirements

Once you've made the decision to acquire a premises of some kind, you need to consider your must haves, such as:

  • Size and layout
  • Accessibility (for staff, customers and suppliers)
  • Parking
  • Capacity to expand
  • Utilities
  • Mobile reception
  • Availability of high-speed internet
  • Location

 

Do you need premises?
Add your signposting title here… Key requirements

Once you've made the decision to acquire a premises of some kind, you need to consider your must haves, such as:

  • Size and layout
  • Accessibility (for staff, customers and suppliers)
  • Parking
  • Capacity to expand
  • Utilities
  • Mobile reception
  • Availability of high-speed internet
  • Location

 

If you need premises, what are your requirements?

Add your signposting title here… Working from home?

You may need to make improvements to allow you to work from home, we provide useful things to think about as well as options for funding the changes.

Read about improving your home
Work from home?
Add your signposting title here… Working from home?

You may need to make improvements to allow you to work from home, we provide useful things to think about as well as options for funding the changes.

Read about improving your home

Do you need premises or can you work from home?

Add your signposting title here… Location, location, location

The location of your premises is incredibly important. If you're looking to open a shop or restaurant, you'll want to be in an area with guaranteed footfall and that isn't close to the competition. If you'll be having regular meetings with clients and suppliers, it's important to be in an area that is easily accessed by road and public transport.

Being in an undesirable area could make it difficult to hire employees - if your business is in London for example, you're far more likely to attract talented people if you're based in Zone 1 rather than Zone 6. On the flip side, the more central your location, the more you'll probably have to pay, but don't be afraid to negotiate on price!

Location, location, location
Add your signposting title here… Location, location, location

The location of your premises is incredibly important. If you're looking to open a shop or restaurant, you'll want to be in an area with guaranteed footfall and that isn't close to the competition. If you'll be having regular meetings with clients and suppliers, it's important to be in an area that is easily accessed by road and public transport.

Being in an undesirable area could make it difficult to hire employees - if your business is in London for example, you're far more likely to attract talented people if you're based in Zone 1 rather than Zone 6. On the flip side, the more central your location, the more you'll probably have to pay, but don't be afraid to negotiate on price!

Where should your premises be based?

Add your signposting title here… Safety and security

Getting the right insurance for your premises is vital. Small businesses are rarely cash rich when they start out, and having insurance will ensure your comapny can continue operating should the worst happen eg a burglary.

When you take on a premises, you also become responsible for the health and safety of anyone that works or visits the site. Be absolutely certain that all health and safety regulations have been adhered to, and remain constantly vigilant to minimise the risk of accidents.

Our insurance options
Safety and security
Add your signposting title here… Safety and security

Getting the right insurance for your premises is vital. Small businesses are rarely cash rich when they start out, and having insurance will ensure your comapny can continue operating should the worst happen eg a burglary.

When you take on a premises, you also become responsible for the health and safety of anyone that works or visits the site. Be absolutely certain that all health and safety regulations have been adhered to, and remain constantly vigilant to minimise the risk of accidents.

Our insurance options

Make sure you have adequate insurance for your premises

Man and woman in cafe
Add your signposting title here… Rent or buy?

Buying a property means you have an asset in your business premises, but you'll also take on some additional risk. If you rent you can move quickly and easily, but you are vulnerable if your landlord decides to sell the property.

Consider what you want from your premises, how long you'll need it and what works best for your budget. The key things to think about are:

  • Do you need a property that will allow your business to expand?
  • Will buying a property put your company at risk financially?
  • Do you need a property temporarily or for the foreseeable future?
  • Location v affordability - which is most important?
  • How will costs impact you now and in the future?

Choosing whether to rent or buy is one of the biggest decisions you'll make in the early stages of your business' life, so make sure you consider all options and angles. You can also discuss your circumstances with other business owners, a chartered surveyor or accountant before taking the leap.

Funding your business and premises
Consider all potential costs

Use our checklist below to make sure you've thought of all relevant costs

Deposit, rent and mortgage
Solicitors and accountant's fees
Business rates and utilities
Insurance - contents and buildings
Renting parking spaces
Maintenance and repairs
Decorating, renovations and alterations
Equipment and signage - buy or hire
Add your signposting title here… Protecting or improving your premises

If your home is going to be your place of business, you might want to make some improvements. And wherever you base yourself you should make sure your premises are protected.

What next?

Find out about the funding options we have for your business

Funding options
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