Starting a New Business? Where will you base it?

In UK on an average 500,000 new businesses are started every year, which means a new business is set-up every minute as compared to one new business setup in USA every 12 seconds.

If you are setting up a new business, Congratulations!

However, the first thing you need to consider is ‘where will you base it?’ Will you setup your new business at your home as a home business or will you hire or buy a new office premises for your business?

This will probably depend upon the type of business you are starting and the funds you have to invest.

Our suggestion would be to first decide if this will be your full-time occupation or you will initially start the business as a part-time business along side your full-time job. Also, will you be required to visit client sites to provide service or will your clients come to you?

The next important aspect to consider is the funds available to you for your personal and family upkeep during the first 6 to 12 months of your business, when you will be setting up your web site and getting those flyers printed, but you may not be generating the revenue or cash to take care of your day-to-day expenses.

Once you have thought over these things, you will now need to decide if you will be targetting your local market only or you wish to target a more wider county wide or country wide area for your business. If your target market is a larger area you may be better off avoiding your home address as your business address.

Let us now consider the options you have. You can lease an office space for your business, however it takes a long time to find appropriate office space and then there are legal requirements to fulfill. You also need to take care of Telephone lines and Internet connections and nothing happens overnight. Also, once you have signed a long-term lease, you cannot back out easily if the business does not work out for some reasons.

To avoid all these problems, we advise our clients to start with a Virtual Office in London that can be setup instantly and the minimum contract period is just three months. If you need the physical space where you can sit and work, you should consider Serviced Office in London. Serviced office can also be setup instantly and the contract periods can be as short as three to six months. You do not need to get any planning permissions, no need to wait for phone connections or internet connections and you do not need to worry about rates and payments for heating or cooling.

If you are convinced that a Virtual Office will be a good idea to start your business, why not take advantage of the Special Offer of 50% Off on Virtual Offices in London currently offered by Oplex Business Centre? Under the offer, you can have Virtual Office in London for as little as 50p. per Day!

Leave a Reply