5 crucial considerations for your first business setup in the city

by Startacus Admin

When it comes to setting up a startup, there are certain things to consider before you set up your business in the city...

Setting up a business is an exciting but daunting process. You’ve decided on the right name, created your brand and know your industry inside out. All that’s left to do is pick your location!

When it comes to setting up a business, typically, a city is where most entrepreneurs want to set up shop. The hustle and bustle of city life draws in business start-ups however, there are certain things to consider before you set up your business in the city.

What are the costs?

Starting a business isn’t cheap and things can get very expensive very quickly – especially when it comes to rent. For some start-ups, finding the right business premises can be limited by their budget.

Rental costs in the city more often than not are expensive. However, with the right research and negotiations, it’s possible to find more affordable business premises. It’s also important to know exactly what costs will be involved, such as utility bills and any maintenance fees, in order to stick within your budget.

How much space do you need?

The goal for every entrepreneur is a thriving business, in a luxurious, office building. However, as a start-up, one thing you need to consider is how much space you need rather than the space you might want.

Mashable.com recommends looking for spaces that are more efficient, such as rectangular spaces as opposed to corners of a building. A city can offer business premises of all sizes and it’s important to remember a smaller space can have just as big an impact!

Does it fit your business?

Finding a location for your business is about more than just choosing an office building. As a business owner, you need to consider the bigger picture, including whether your location fits with your business persona.

For example, if you’re setting up a business in London, you might want to look at the business clusters situated throughout the capital. If your business is centred around fashion, you want to be in Camden rather than Canary Wharf. Your surroundings should reflect your business as it can impact people’s perceptions!

Is it truly accessible?

Being based in a city almost guarantees your business will have access to plenty of transport routes, from trains to motorways to airports. Setting up your business in a city does come with a lot of benefits but you also want to make sure your location is truly accessible.

Are your premises easy to find by customers? Is there adequate parking? Is parking free of charge or expensive? All these things can deter customers and no customers means no business, writes TheBalancesmb.com.

Does it have all the facilities you need?

Start-ups can incur a lot of costs when setting up particularly when it comes to the facilities they need. From equipment to wi-fi, there are all sorts of different things you’ll need to be able to run your business and the cost can soon add up.

Serviced offices not only do you benefit from a fully furnished office, but quite often the pay-as-you-use pricing can help to keep costs down.

For example, a serviced office space from Be Offices will, alongside that all important city-based office space, include IT connectivity, free calls and instant access to a thriving business community, as standard. But additional ‘pay-per-use’ services include video conferencing, increased bandwidth and so on, mean you can manage your costs depending on your own needs.

 

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Published on: 14th October 2019