So you’re planning on spending some time in the United Kingdom and you are looking to set up in business as a means of sustaining yourself whilst you are there? Actually a lot of visitors do this. It is a good way of raising some much-needed cash for touring the continent and taking in the sights, history (and nightlife) of Europe.
Now you’ve identified your niche and evaluated the competition, and you have a plan for raising all the starting capital that you are going to need. What next?
In all likelihood, the next big decision you are going to need to take is where you are going to base yourself, and much of that will depend upon the nature of the business itself. A sole trader offering a service which can be delivered from the end of a laptop or a telephone, such as a lifestyle coach or a consultant, can quite feasibly operate from your hotel room or from behind a desk in the living room of somebody else’s home. If you are going to be selling stock or managing teams of people in an office environment, less so.
Make Your Move and Be Ready for Business
In this day and age it is quite easy to source advice and information from a specialist online entity such as Zoopla. Rather than looking all about the place for disjointed scraps of knowledge spend some time taking advantage of a resource such as this to find out everything you need to know. From exchanging contracts to contacting business energy suppliers, quite often everything you require will be available from one central online location.
Once you have an idea of the type of costs involved and the work that moving in to a new business premises is likely to entail, you might then wish to drop in on an agency, which has properties galore on its database. You will by this time, of course, have acquired some idea as to where you wish to locate. Factors such as rental costs, as well as the proximity of your local market (if applicable), are needless to say of crucial importance in this process.
Rental Versus Purchase
Renting a property is naturally not the only available option, but a temporary business such as yours which has the purpose in mind of raising some much-needed cash before moving on would surely not wish to commit to purchasing real estate and sinking permanent roots. Office space can be leased for the short to medium term, leaving you free to plan your next move once your venture has served its purpose.
Always Read the Small Print
The other thing that renters need to be mindful of is of course the small print. It is vitally important that you are familiar with the terms of rental as these may differ between properties and between landlords. For instance how much notice needs to be given (in either direction) in the event that you wish to relocate, either domestically or to a new country, and who is responsible for major and minor repairs?
The United Kingdom, like any other domain, has its own rules on these things and it would be advisable for any potential renter or purchaser to familiarize themselves with them. Security of tenure and protection from unpleasant surprises hidden deep in the text can be of paramount importance at a time when your business, even if it is short-term, needs certainty and stability.