Find business premises
Overview
This standard is for entrepreneurs who need to find business premises. When choosing premises for your business you need to think carefully about your own needs and that of your business. The type of premises you need depends on the type of business you have, and other issues such as, whether you need to be close to your customers or suppliers, or how much space you will need for equipment or storage. The conditions of the lease and how much it will cost will also have a substantial impact on your business. Obtaining premises is a substantial commitment and usually requires a lease or a contract, so you will also need to seek out relevant information and suitably qualified advisers. Finding business premises involves assessing the impact a premises will have on you and your business, reviewing your business needs and matching them to available premises, including accessing relevant professional information and advice.
You might do this if you need to:
set up a new business or social enterprise;
review your current premises;
expand your business or social enterprise;
change or adapt the products or services offered by your business or social enterprise.
Performance criteria
You must be able to:
- identify your business requirements for the premises
- find out any legal requirements for deciding on your needs for business premises
- decide on the type of premises your business requires
- compare potential locations for your business
- define the space, storage and access requirements for your premises
- define premises access requirements
- define other premises factors to meet your business requirements
- review different premises to match them to your business needs
- identify any alterations required to fit your business needs
- review the terms and conditions, and cost for the premises
- assess the effect of costs, and terms and conditions on your business
- get advice about the premises from legal, property and specialist advisers
Knowledge and Understanding
You need to know and understand:
Business focus
1. what your business needs from a premises in terms of space, storage and access requirements
2. the planning permission, permitted development and changes of use requirements of your local authority
Research
3. the options for finding premises to suit your business needs
4. why a particular location suits your business needs
5. the benefits and other convenience factors of different locations
Finances
6. how the premises may affect fixed costs, cash flow and profitability of your business
7. how to calculate costs and benefits of taking on premises
8. the financial costs for maintenance, insurance, security, commercial rates and other taxes, fees, fit out and decoration
9. the contractual terms and conditions for your business premises
Information and advice
10. where to get information about suitable premises
11. the information you may need about contracts and leases
12. how to check that information is accurate and up to date
13. how to deal with property and professional advisers