How to Choose the Right UK Location for your Business

What to consider when choosing a place for your business in the UK? Let’s take a look at some of the most important factors.

how-to-choose-the-right-uk-location-for-your-business

Location is a major consideration when starting or relocating a business. It can have a significant impact upon costs and income, and can also affect the way clients and potential employees perceive your organisation. It is therefore vital to get it right when it comes to location and choosing commercial property UK wide. So, what to consider when choosing a location for your business? Let’s take a look at some of the most important factors.

1. Business perception

Certain areas of the UK have become a natural hub for particular industries. The City of London for example is well known as a major financial and professional district, home to big names in finance, banking, law and insurance.

If you are seeking to make a name for yourself in any one industry sector, you will do well to research the prime locations where the sector is known to thrive and experience fast growth. Choosing a location that reflects the nature of your business will help to inspire trust amongst clients, so hone your search to commercial property that is situated in areas of the UK that particularly suit your sector.

2. Accessibility and logistics in the UK

If your business relies on frequent deliveries across the UK, or you regularly receive visitors or need to travel to meet clients, it is vital to consider local transport links.

Look at the proximity of motorways and major roads, as well as public transport links, and airports if you do business overseas. Also consider the ease of access for your staff, including parking. A straightforward commute is more likely to help you attract and retain good people for the long term.

Consider that commercial property purchase and rental costs in the UK tend to be higher in more commercialised locations, so you may wish to consider an out of town site that is still accessible but not situated in such a densely populated area like London.

If your business relies on high customer footfall then you will need to again make sure that public transport links are strong.

 

3. UK Competitors

Some businesses thrive on being close to competitors, whilst for others it can have the opposite effect.

Establish which of your competitors are based in the area you are considering buying or renting commercial property, and be sure to undertake market research into local supply and demand. 

Too much competition could mean it would be better to set up in an alternative area where your services are more exclusive. Likewise, a number of similar businesses in close proximity could indicate that there is high demand in the area for what you supply, in which case the ready market could prove beneficial to you.

4. Local skills

Your business will be dependent on skills. Be sure to check the local skills base to ensure it can fulfil your needs, particularly if you rely on a qualified workforce. Factors to consider would be proximity to quality educational facilities, and local employment statistics.

People are crucial to the success of a business, so if your chosen location is thin on good talent, it could hamper your success. Make some enquiries of local recruitment agencies, or post a free job on an online jobsite to gauge the calibre of candidates in any given area.

5. Growth potential

When choosing commercial property in the UK, businesses should always consider whether the premises have the potential to accommodate future growth. Bear in mind that moving premises can be costly in terms of both time and expense, so it is wise to choose a location that will serve the business for the foreseeable future.

Look into the types of commercial property available in the area. If you set up as a smaller concern in the early years and become known in the location, as you grow you may need to move to larger premises, but still wish to stay in the same area where your reputation is strong. Is the location flexible enough with a range of commercial property sizes to accommodate your UK-based expansion?

6. UK business rates

The costs to purchase or rent commercial property in certain areas of the UK will vary compared to others. Your bottom line is crucial to the success of your business so it is vital to research the likes of Business Rates, rental costs, utility bills, taxes and other fees applicable to the area in which you are considering locating. 

Commercial Property UK – Specialist Expertise from Dohertybaines

Dohertybaines offers specialist expertise in all aspects of commercial property UK wide. If you are seeking commercial premises to rent or buy, our team is equipped with the in-depth knowledge you need to source precisely what is right for your business. For fully tailored advice, you are welcome to contact our dedicated team on 020 7355 3033.


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