Jul 30, 2015
London is home to nearly half a million start-up businesses and microbusinesses. It is the most popular tourist destination in the world once again, for the second year running, and some of the largest European companies, financial institutions, and organisations have their headquarters or major offices in the region. Whether you operate in B2B or B2C services, are a financial technology start-up, or are looking for a head office for your retail business, London is the prime location.
One of the most difficult aspects of choosing an office in London is knowing which area to start looking. East London Tech City and even central London are proving very popular with start-ups. Tech City, which is also commonly referred to as Silicon Roundabout, is popular with the ultra-modern and trendy technology companies, while the centre has seen a large increase in the number of financial technology companies that have sprung up. Do your research to ensure that you know which area is most suited to your business type before searching a website like GVA Grimley to help find potential premises.
Do consider your current needs, in terms of the amount of space and any requirements you have, but don’t overlook the fact that your needs may well change in the near future. If you are expecting a marked expansion, then prepare for this when you are renting or buying commercial property. Otherwise, you will end up having to look for somewhere to move your business to within just a few months of establishing your new base of operations.
You should even consider your branding and reputation. When potential clients see your address, they will start to make a judgement about your business, and when they see the exterior of your offices, that judgment will either be cemented in their mind or potentially altered. By the time they get through the door, it can be very difficult indeed to change a client’s mind if they have already painted a negative picture of your organisation. In business, image is important and it does matter.
When leasing or renting make sure that you are fully aware of all the terms and conditions, and what you are and are not permitted to do. Some landlords may be happy for you to renovate the whole building, while others may require that everything be put back to how it was when you leave, and some may not allow any major changes at all.
Getting the right office space is important to a business, as well as to its employees. Do your research, consider all of your requirements including space as well as ease of access and even the level of prestige offered by the particular business district you choose, and then choose the office that most closely matches these criteria.