Physical space is almost always a limiting factor for businesses. Even if you conduct most of your business online and you don’t need space for manufacturing products and so on, almost all companies at least need enough space to work comfortably and flexibility for meetings with staff and clients.
With this in mind, there are many things you can do to get the most value out of a small space. Consider a few of the following options.
Use folding tables and chairs
Space-saving furnishings that can be folded flat when not in use are a fantastic solution for many offices. Replace a bulky traditional desk or meeting table with a convenient folding table that you can move around or pack up easily. You can use folding chairs for the same reason if you occasionally need to accommodate more attendees than usual.
Storing paper records and files takes up an alarming amount of space after just a short time, and usually fills up heavy filing cabinets that get in the way and can’t be moved around easily. By switching to digital for as many systems as possible, you’re saving space as well as the environment. (more…)
Choosing the right commercial property for your business can be a difficult and time-consuming process. There are some different factors which need to be considered, and the selection and negotiating process can take months. If you don’t know what you’re doing, the whole thing can get rather frustrating. Here are some guidelines to help in choosing the right commercial property for your business.
When you’re looking for commercial office space for which you want to lease out some space to other tenants, the general rule of thumb is “more is better.” Of course, this also assumes that you do not overpay for the property with the higher number of units. But all things being equal, it’s better to have more units to rent out. This way, you can afford to charge less for each unit and still turn a profit.
As the old saying goes, the three most important aspects of commercial property are “location, location, location.” This is especially true with commercial property. If you are acquiring property for any retail purpose, you need to thoroughly examine the area in which it’s located. How much traffic does it have? What is the demographics of the area? Is it a growing or dying area population wise? Do the people in this area have a need/desire for your product/service? All these things need to be examined.
When it comes to getting financing from the bank, make sure all your financial statements are in order. What one of the major criteria banks are looking at is how well organized your company is, because a better organized better run company is far more likely to succeed. If the financial statements appear to be messy, this alone could be enough to cause the bank to turn down the financing. (more…)