Searching for Premises

1. What Makes a Good Location?

Start by thinking about where you want to be. Do you need a prime town centre location? Or is an out-of-town business park more suitable?

1.1 Which area do you want to be in?

• Where are your potential customers and suppliers?

1.2 How expensive is the area?

• New towns and developments are often cheaper, but may not be suitable.
• Prices are lower in areas with vacant property - but may indicate that the area is not good for business.
• Setting up in certain locations may qualify you for grants or other financial incentives such as the Business Premises Renovation Allowance. The premises must be in a designated disadvantaged area and have been vacant for a year or more.

1.3 Must you be near transport links, such as the motorway network?

• Are the premises easily accessible?
• Will you be able to get supplies and make deliveries easily?

1.4 How will the location affect employees?

• Will you be able to recruit suitably skilled people locally?
• Will the location meet employees' needs for housing, schools, shopping and lunch?

1.5 What local facilities do you require?

• Do you need to be near a bank, post office or local parking?

1.6 How important is the image you project?

1.7 Could you run your business from home?

• Check whether your mortgage or tenancy agreement prevents you from working from home.
• Check whether you are suitably insured.
• Check your tax position. You may become liable to business rates, capital gains and other taxes.
• Will working from home create the right impression?