Business Property

Business Property | Office Lease Questions | Business Property Types | Sheffield Business Property

Welcome to the Business Property website for SME's. SME's are businesses described as having up to 250 employes and make up the majority type of workforce in Sheffield.

The main sector in which Sheffield has come to be known are;

• Sports Science and Technology
• Creative and Digital Industries
• Advanced Manufacturing and Materials Technology
• Public Sector operations and support services
• Business and Financial Services
• Energy and Environmental Technology
• Biomedical and Healthcare Technology

All these businesses need space to work from in a comfortable and effective way. Selecting your business property in Sheffield can be a difficult task with many priorities to consider.

Shared Office Space: Making the leap from just starting your business or moving from your home office is a major step with some office owners wanting you to sign long leases. A more cost-effective alternative is to share an office with an established company who are prepared to take you on a trial basis. This can be easier if you have a look at the business owners who already are looking for businesses that want to hire a spare desk. Take a look at the spare desks in Sheffield section.

Designing Your Office: The right office design can help you reduce stress, improve productivity, and in the end, enhance the profits of your small business. An often overlooked aspect of setting up a business office is your computer workspace. Improper design of your computer work space can lead to headaches, backaches, neck aches and much more.

Leasing Office Space

All growing small businesses may someday be faced with the question of leasing versus buying office space. This question has many pros and cons. In order to make your decision easier, your About.com Guide for Small Business Information has assembled the key facts of leasing versus buying office space.

With ever-changing vacancy rates and stock markets, it is uncertain what the future may bring. A small business owner needs to carefully weigh the pros and cons of leasing or buying office space.

Pros of Office space Buying

• Fixed Costs: Locking in your commercial mortgage long-term can give your business clear, fixed costs.
• Tax Deductions: The associated costs of owning and running a commercial space can provide expense deductions in the form of mortgage interest, property taxes and other items.
• Additional Income: Owning your office can offer the advantage of renting out extra office space adding another source of income.
• Retirement Fund: The prospect of owning commercial space and having the property appreciate over time, allows the owner to sell out and fund their retirement.

  Cons of Office Space Buying

• Lack of Flexibility: A new or growing business may experience unexpected needs in the future. If your business continues growing, your owned office space may become inadequate forcing a sale of the property.
• Upfront Costs: Buying commercial space will initially cost far more upfront. There are property, appraisal and maintenance costs along with a large down payment and possible property improvement costs.

  Pros of Office Space Leasing

• Prime Property: A leasing office space option provides a business with the chance to rent in an area with a good location and high image. If your small business is dependent on location and image, such as retail or restaurants, the leasing option is much more affordable.
• Free-up Working Capital: With your money not tied up in real estate your business can respond to opportunities in the market. In addition, your ability to borrow funds will not be as limited as with buying office space.

• More Time: Any type of ownership comes with headaches. A leasing option affords the time to focus solely on running your business.

  Cons of Office Space Leasing

• Variable Costs: With a leasing option you may be subject to annual rent increases and higher costs at the time when your lease expires.
• No Equity: While leasing you will be funding someone else's retirement with your lease payments. However, owning requires you to get involved in the property management business.

The answer to lease or buy office space is not clear-cut. Your decision will hinge on financial, tax, and personal issues. Do not make this decision sparingly. Bring in your accountant and financial planner to guide you with the best advice.

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Business property advice - courtesy of Sheffield Business Property