5 things to consider when choosing a business location

There’s a lot to think about when starting, expanding or relocating a business.

And choosing the right place can be a make-or-break decision.

Here are 5 important things to think about when choosing where to base yourself.

1. premises

Each business has its own specific needs and finding the right premises to meet those needs can be tricky.

You need somewhere that can handle your operations…in the right spot and within budget.

There are loads of commercial letting agents out there. Many of them have websites that allow you to search for what you need.

But if you’re looking to locate in the UK, have you ever thought about asking the local council or regional government if they can help?

A lot of them have business support teams that keep databases of commercial property, and will help you find the office space, warehouse or development land you need.

2. skills

Being close to the right people with the right skills is crucial. If you can’t recruit the right employees, things will soon grind to a halt.

So think about where all of those awesome people might be.

Choosing a location where you’re able to collaborate with local colleges and universities can be a huge bonus.

And many higher and further education establishments are really geared-up to work with businesses these days – allowing you to tap into student, under-graduate and graduate skills.

3. funding

Many businesses fail because of lack of capital.

It’s important to know about all of your options, and to work out what’s best for you and your business

And location can play a part in that.

For example, different places can provide different grants and other types of financial support to firms that locate to their patch.

Again, local and regional government business support teams can provide advice on where to go and who to speak to about finance.

4. support

It’s easier to do business when you have the support you need.

And it’s even better when it’s free.

That’s why there are plenty of support services out there. Like Welsh Government’s business support team - Business Wales.

And - as we say - most local councils will also be able to help you, providing expert local knowledge on property, recruitment, funding, relocating key employees, planning legislation and other factors.

5. connectivity

Superfast broadband. Good transport links. 3G and 4G capabilities.

All of these things are important if you want to keep your business connected.

So do your research and find out if a location has the right combination of physical and digital connectivity to help you stay in contact with suppliers, employees and customers.

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