Decisions about Premises can make or Break a New Business, Says Start Up Donut

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If you’re starting a business and trying to keep your costs down, the first big question to ask is “do I need premises?”

Bristol, UK, October 13, 2009 (PressReleasePoint) -- Premises are often the second-biggest overhead for many businesses (after wages). So, could you start your business from home? Start Up Donut expert Terry Gilbert has this advice:

“Providing it won’t hinder the business or adversely affect your home life, then yes, starting from home is a good option.”

Some new business owners take on premises because working from home is impractical, or because they want ‘clear blue water’ between home and work. As well as freeing you from domestic distractions, having premises can create a better perception of your business to potential customers.

It’s very important to monitor costs, says Gilbert:

“You shouldn’t overstretch. Burdening yourself with unnecessary additional costs can be disastrous. Look closely at your anticipated sales and all other costs and then work out how much money you can afford to spend on premises. If you can’t afford your ideal premises, you’ll need to compromise.”

Costs could include a deposit, rent or possibly a commercial mortgage, business rates, utilities and the cost of insurance. There may be service charges, too. You might even have to invest in the look of your premises, including décor, furnishings, equipment and signage. And don’t forget security.

Start Up Donut contains advice, tools and resources for start-up and new businesses. It’s supported by Google and contains many offers for business start-ups.

The Start Up Donut is at www.startupdonut.co.uk
Further information: >> visit http://startupdonutblog.co.uk
>> contact Mark Williams, BHP Information Solutions, tel: 020 8394 0049 or info@startupdonut.co.uk
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