Industry sector:

Electrician: Rent

It may well be that you decide to run your business from home, doing administrative jobs like invoicing and record keeping in a spare room or at the kitchen table. If not, enter in your cash flow forecast the amount of rent you will have to pay for your premises in the months when you will have to pay it. You might decide that you need business premises such as an industrial unit, lock-up garage, a yard or perhaps an office.

If you have not yet decided on a particular premises you could contact a local estate agent who handles commercial property to get an idea of how much the rent is likely to be. You should have already given some consideration to the type and location of the business premises that you will require, so they will be able to give you some guidance as to how much you will have to pay. It might make sense to team up with another trades-person who you get on well with and trust to share premises costs.

Bear in mind that if your premises are open to members of the public, they should be accessible to customers who are disabled.

Your solicitor will help you with the lease agreement but make sure that you are clear about:

  • whether the premises can be used for the purposes you have in mind
  • how frequently the rent will be reviewed
  • how long the lease runs for
  • what you and the landlord are each responsible for
  • the position as regards sub-letting