When it comes to running a business, there are many things you can do to improve and grow it. One of the best ways to ensure overall success is to invest in the business premises, as positive effects from this can be widespread.
Investing in premises
While your business likely already has an office location, if it is a rented premise, this can cause several hurdles for businesses in their early stages.
Firstly, as you don’t own the building there are limits to the renovation that can be undertaken, and then there’s the issue of the owner potentially selling it from under you. Owning the premises is naturally the preferred option however it can be unaffordable option for many businesses, however with affordable loans and funding options, it can become a reality for more businesses in the future.
While owning a building is an advantage in itself, after all, property is where money has always been. Below, you’ll find four reasons why ownership can help your business from the inside too.
Less stress – if you own the building you instantly feel less stress about a wide range of things. While you’ll have to pay the building’s mortgage, this will no doubt be less than rent, and it’s less stressful as you don’t need to deal with the ‘rent man’. Then there’s the subject of fixing things when there’s an issue. Rather than waiting on someone else to get it sorted, you can go right ahead and do it yourself from now on.
Security – then comes the bonus of being safe and secure. If you own the building, it’s yours, so you don’t have to worry about it being sold from under you, meaning you have to relocate your entire business. Another way to further protect your business premises whilst promoting growth is with unsecured business loans, which aren’t secured on your assets such as the businesses buildings.
Create space – if you’ve been having issues with lack of open spaces, kitchens being too small or there not being enough offices within your building, owning it completely fixes this as you can modify the interior of your premises to one that suits your needs.
Help the business – finally, it can help the business to grow. From creating shared working spaces to boosting morale and creativity with workers, to being able to forecast better due to no changes in rental charges, overall, ownership is much better for your company.
However, while the ownership of a building brings plenty of advantages, there’s one thing that you’ll have to ensure you do; keep it safe. Below, you’ll find ways of ensuring that you can keep your business safe at all times.
Keeping it safe
Below, you’ll find the three key ways to keep your building, and business, safe once you own the premises.
Risk assessments – firstly, hire someone to come in and assess the building. This way you’ll be able to discover the vulnerable spots and areas need the most attention when it comes to protection.
Security systems – the next step is to install security systems. From CCTV to fire alarm systems, this will ensure your staff and the building are as safe as can be at all times. You can even hire companies to help keep it safe too.
Insurance – finally, you need to ensure you have insurance as this is the single most important way to protect yourself, your staff, the building and business should anything bad happen.
As you can see, while there are a few things you need to take into consideration with owning your building premises, overall, it only works to help your company.
Photo credits: eOffice