How To Choose The Right Premises For Your Business

The right premises for your business are essential, whether you’re looking for you’re just starting out, or planning a move. Your premises are part of your brand, and need to the have space and the facilities for your employees and your products.  

Write A List Of Everything You Need From Your Business Premises

Think about everything you need from your business space. Do you need meeting rooms, turning room for delivery lorries, or specialist storage? Remember to think about your long-term business plans while you write this list, and how these might change what you need from your business premises. Consider whether you might want to expand or change the property in the future, such as expanding the car park with help from https://www.keflatwork.com/parking-lot-paving/.   

 

Get The Right Location

Choosing the right location for your premises can be a balancing act to get right. You need to choose a location that works well both for employees, suppliers, and customers to get too, but you also need somewhere that meets your budget. You might need to think about footfall in the area, where your competitors have their premises, any difficulties for deliveries or parking, and the business rates in the area. 

 

Buy Or Rent A Property

You will have to decide whether you want to buy or rent your premises. Renting has the advantage of needing a lower amount of capital to be invested. You’ll have more flexibility to relocate as your business changes, so renting can be a good idea in the early stages of your business. Buying a property has advantages too, such as the flexibility to manage or repair the building as you need, the potential profit of selling the building if you can improve its value, and the option for another stream of income by letting the premises. 

 

Get Help With Business Rates

You might be able to apply for help with your business rates. Some areas offer assistance for small business owners with their business rates. See what can be claimed in your area and whether you meet the requirements to apply for the help.

 

Legal Considerations For Commercial Property

There are a few legal considerations that you should keep in mind when you’re finding a property for your business. Make sure you’ve thought about the requirements for planning permission, health and safety, fire regulations, insurance, accessibility, and licenses that you must have. If you choose to rent a property, remember that you will also need to play by the terms of the lease, so you will need to clearly understand what those are and if they will cause you any annoyances. Before you decide to buy or lease a property, it’s a good idea to take advice from a solicitor. 

 

Search For Commercial Property

You can find business premises through local commercial property agents, visiting areas you think might work to see commercial properties that are for sale or rent, or looking on commercial property websites. Check premises against your list of needs to create a shortlist of properties that you might want to view. 

 

3 Easy Ways to Manage Your Business Taxes Effectively

Taxes form a crucial part of the corporate world and have a great impact on your business finances. It’s your responsibility to know how much taxes your business owes and pay them when they’re due. The strategies you put in place before the end of the tax year can help you save money. On the other hand, if you don’t meet your tax obligations, your business’ future may be threatened. Here are effective ways to manage your business taxes.

  1. Understand the different types of taxes

There’s a wide range of taxes for different businesses. Try to know and understand the different types of taxes that apply to your company. This’ll help you meet your tax obligations regularly and avoid the repercussions of failing to settle them in time. There are income taxes, employment taxes, and sales taxes, among others. Businesses that sell goods and services may be required to collect taxes on their transactions. While your consumers pay sales taxes, you may be fined if you don’t collect those taxes and pay them to the government. Depending on what kind of business you operate, you may also have to pay excise taxes on fuels and highway usage.

  1. Take deductions and comply with tax rules

Although you may use a casual approach for your personal record-keeping, you shouldn’t do the same for your business. Tax laws normally require some records to make deductions, and without those records, your legitimate expenditure may not be deductible. Have a system in place to keep track of your income and expenses. Computerized record-keeping solutions can help you with that. You can set up a file system to sort out your receipts into categories such as entertainment costs, car expenses, and meals. If you drive your personal vehicle for business activities, it helps to track your mileage in a diary. Businesses that reimburse their employees for business-related car expenses will also want to explain how those records should be kept.

  1. Enlist the help of tax experts and stay up to date with tax laws

Managing taxes can become a daunting responsibility to small business owners. If you lack the knowledge and experience to deal with complex IRS rules and tax processes, get help from tax experts such as Tri-Met. By using research and development tax credit services, you can eliminate the pain points in your tax obligations. You may also want to stay up to date with your country’s tax rules. Tax laws often change with new legislation and legal cases. IRS rulings often evolve throughout the year, and these developments may present new opportunities to your company. Instead of waiting for your usual annual meeting with your accountant, learn about new tax trends.One way to save more money on taxes is to start contributing to a retirement plan if your business is profitable. To manage your taxes effectively, you’ll need to structure your business appropriately and have an actionable accounting plan.

 

Why You Should Move Your Business Abroad

The world is going through a bit of a shift right now. Being that we’re in the middle of a pandemic, things are in transition and businesses around the world are feeling it. Some businesses are thriving against the odds, where others have shut their doors and let their staff go. The pandemic has also made many different business owners think that now is the time to jump, leap to the other side of the world and run their business from there. It makes sense: a pandemic does have the ability to prove that life is short – so why wait?

Taking your business overseas doesn’t have to be a difficult process. In fact, it can be fairly straightforward – especially given that it’ not just for the bigger brands out there. Businesses of all sizes can shut their doors in their current country and open new ones in other cities and countries at any time, they just need to know how to do it. Branching out allows you to break into untapped markets with an untapped audience, and you can’t usually do that without leaving your national borders. There are benefits galore to getting freight class shipping quotes to move all of your equipment overseas, and you can do so much more with your business when you take yourself global. So, what are you waiting for? We’ve got several reasons below that you should move your business abroad and grab change with both hands.

  • New Opportunities. A new country means a new audience, and if you have a product or service that is going to add value to that audience, then there is no reason to wait around. You can become a trusted brand in a new place, impressing a whole area of the world you didn’t reach before. Your competitors won’t catch on for a while, which means that you can get your foot in the door and get the edge of the new area.
  • Tax Incentives. Did you know that many governments offer incentives for business owners looking to come into the country? Tax breaks for corporations can save thousands for a business, and there are even incentives for attracting smaller businesses such as the investors portal in Malaysia to save cash. Exploring the benefits that could be on offer to you from the governments in each country you want to move to is a smart plan before you put anything into place.
  • Profit Potential. So many smaller business owners think that it’s too extreme or just not feasible to move globally with a small business budget. It’s not true! If you can outsource overseas, you already know that the labor costs are lower, which will dramatically help your profit margins. It can take a little longer to establish your business overseas, but it’s not impossible!
  • A Little More Life. Your business needs a shake up and perhaps the pandemic has been the catalyst for that shake up. A move abroad can breathe the life you need into your company, and you should continue to maintain ties to your home country, too.