RICS have created a guide to help small businesses take better control of their finances through managing their property assets differently: the Small Business Property Guide.
Property costs – such as business rates and rent – are one of the most significant expenses incurred by SMEs and failure to take professional advice as to how to manage them could costs businesses thousands of pounds.
The guide, which is free of charge for business owners, is available from (today) and covers all aspects of the property process. It has been endorsed by the Federation of Small Businesses, the British Retail Consortium and the Association of Town and City Management.
The guide includes advice on:
- Finding the right premises
- Business rates
- Tax allowances on property
- Rent reviews
"Times are still hard for many small businesses across the UK. Property costs are both one of the biggest overheads and one of the most complex assets to properly manage and we hope that this guide can prove an invaluable resource."
Paul Bagust, RICS Associate Director
This guide takes you through the more common decisions and actions you may need to take – from acquiring a lease to challenging a dilapidations claim – along with vital property-related issues such as valuations, planning permission and the business rates system.
Though comprehensive, it is no substitute for the in-depth knowledge and advice a professional surveyor can provide, working in some instances with your lawyer or accountant. It should help you to appreciate when you need to call in the professionals and how to work with them.