If your business grows rapidly and without enough planning, there may not be enough space for everyone to work efficiently. With increased orders to fill you may also need to find premises that accommodate bigger production facilities and storage for more raw materials.
There are several things to consider when deciding to move to newer and bigger premises, including whether to buy premises and equipment outright or to lease them.
In a period of rapid growth, when working capital may be under pressure, leasing premises or hiring serviced offices gives greater flexibility even though it costs more.
To avoid relocation again too soon, you could search for a business location that gives you the option to expand in the future.
You may also be able to negotiate discounted rates with your landlord if you lease another warehouse in the same complex, or a second floor in the same building. Learn more about leasing premises.
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- Small Business State Budget 2019-20 Roadshows - Redlands 18/06/2019
- Mentoring for Growth Day - Cairns 18/06/2019