So you’ve had an incredible new idea and you simply can’t wait to get to work on contacting potential customers, setting up meetings and making your dreams become a reality. But have you made sure you have the right insurance and have a first aid box on site?
It might sound ridiculous, but it’s very often the boring things businesses ignore that kill them in the all-important first year. So here’s a look at three things you might think are dull – but could end up being what breaks you if you choose to ignore them.
Of course, you’ll want to make sure you’re covered if anything goes wrong, right? But did you know that there are certain types of business insurance that are compulsory to anyone who chooses to get a business off the ground? Luckily there are handy online guides that will tell you more, so read up and make sure you’re covered.
No matter how big or small your premises might be, from a spare bedroom to a whole factory floor, a risk assessment could save your skin. It can help you to better protect visitors, clients and staff from accidents. If you don’t carry out a risk assessment, you could find yourself at the centre of a claim that digs so deep into your pocket that there is nothing left to keep your business afloat.
Sure, your risk assessment will help protect you, but it won’t stop accidents from happening. Trips, falls, bumps and much more can unexpectedly crop up anywhere so you’ll need to have either an industrial or office first aid kit available when they do. It may just be a few plasters, bandages and pain killers, but it could make all the difference if it stops someone trying to make a claim against you.
If you are a home-based start up looking to move into your first commercial property, renting a desk in a shared office can be a great workspace solution.
The amount of spare desks available for rental has been steadily growing over recent years and they are an increasingly popular office option. These are just some of the ways that life in a shared office could bring the best out of your enterprise.
More flexible contract
Shared office space is often available immediately and there is little of the potentially complicated legal process inherent when taking out a traditional office lease. This means you can get in straight away and start enjoying life in a buzzing office environment.
Furthermore, contracts are often rolling month-to-month affairs and this is where a shared office could really help you bring the most out of your business’ potential. If you feel the need to move or expand to meet the requirements of a fast-moving market, you are not tied to a location long-term. This could allow you to move wherever the market takes you.
Enjoy the buzz of office life
Another good reason to consider life in a shared office is you can make brilliant business contacts and fantastic friends. You may also find that being in an energising workplace can motivate you to work better. You might even have the skills your hosts require and working for them could provide a welcome additional revenue stream.
Increase your focus
If you find that the buzz of an office is a little too “buzzy”, the great advantage of flexible contracts is you can find yourself another, quieter workplace where you can better concentrate on driving your business forwards.
This is an important factor in your office search, because one of the great benefits of escaping the many potential distractions of the home-working environment by renting a desk is that it could do wonders for your focus. You can enjoy the many potential advantages of having a clear definition between work and home and even your commute could become a valuable time when you can get in the right mindset for work.
Additionally, in a shared office the services you access, such as broadband and security, are often included in one monthly fee. You can enjoy the many benefits of office life without having to spend valuable time managing the things that are often necessary when renting workspace in the traditional way.
This makes shared offices a great option at a time when you need to focus all your energy on your new business and really work towards bringing the most out of its potential.
Hang on a second
Shared offices are often great workplace solutions, but of course there are downsides. You will probably have very little control, both over your office environment and your workmates. So, if you like to use specific services, particularly for things like security, then a shared office may not be for you. However the beauty of such flexible contracts is that they still could be worth trying out.
Peter Ames writes on behalf of Office Genie, marketplace for office and desk space.
Start-ups have it tough these days – there are so many companies in every single industry that it takes an incredible effort to find an edge that would allow a start-up to thrive or even operate in these conditions. However, there are some unique solutions to some of the obstacles that start-ups usually meet when they start out.
The truth of the matter is that almost every single business needs an office space to run properly. The thing is, it is hard to find a good balance between the costs and the actual benefits of a prestigious location. You will either have a great place in the city centre and run out of money, or you will find an abandoned building far away and nobody is ever going to notice that you even exist. How can one deal with that dilemma? One though-provoking idea has recently found a footing on the market – the idea of virtual offices.
The idea is stupidly simple – you can rent an ‘operating’ space somewhere away from the centre for a low price. From that place, you will simply run your small business without any distractions that the city centre often brings. And, additionally, you will rent a virtual office in a prestigious spot. There won't be any physical space for you, but your business will get plenty of prestige from being located on a good address.
That alone would hardly be worth it, but think about the fact that you can use that address for all kinds of things – correspondence, order taking, advertisements, etc - the possibilities are unlimited.
Sometimes, your provider might actually own some physical space in the given location and will often be able to provide you access to that in case you would like to set-up a business meeting without having to force your customers out of the city. Intriguing ideas all around – and perhaps you will be able to think about some more as well!
Lewis Edward is a co-founder of The Office Providers, a company that deals with all kinds of office space.
All businesses, whether small or large, need to implement safety measures and provide a safe working environment for those who work for it. What level these security measures take will depend on the size of the business and of course the budget available. No matter what size your business, there are some important and basic and common sense security measures that can be easy and cost-effective to execute to safeguard staff, equipment and other valuables.
1 Risk assessment
As soon as you possibly can, assess which areas of your premises could be vulnerable to crime or disaster. If you operate from a property on a busy high street, shutters for the windows may be a good idea, while if you are in a remote location, CCTV may be the best way forward. Do your research and identify the places that could be vulnerable to crime and come up with a solution quickly. It may just be that a window or door requires an extra lock, but even that could make a big difference.
2 Safety training
Staff members should have adequate training on safety procedures in case of an emergency. Safety drills need to be practiced regularly and a fire extinguisher readily available and tested to ensure it is in working condition. Fire exit doors should be clearly visible and not obstructed and facilities for any employee who has a disability should be in place for evacuation. A two-way radio device can be of use in coordinating and communicating in such an event. It is important to have a list of emergency numbers for the police, ambulance services and the fire brigade to hand and a safety manual or a safety notice pinned up to advise staff of what to do in an emergency.
3 High-value goods
If you keep stock, money or high-value goods such as laptops or televisions onsite, it is vital you secure them – in a small business, having high-value items stolen can be disastrous. If money is kept onsite, invest in a good quality safe and make sure you bolt it to the floor. If high volumes of stock are left overnight, make sure they are stored out of sight and towards the back of your premises, ideally in a room with few or no windows. Heavy-duty locks or bolts will do the job on any entrance.
Lighting is an effective and cheap way to secure premises. Motion-sensitive lighting will ensure that any dark corners that could provide cover for criminals are illuminated. They will also help enhance surveillance.
According to the Office for National Statistics, thefts from homes and other businesses went up by five per cent between 2010 and 2011, making it more vital than ever to make sure you are properly protected. They can be somewhat pricey, but having a good alarm that will automatically inform the police of a criminal act while it’s happening could one day more than pay for itself. If you already have one, make sure it’s working properly.
6 Asset tags
Security tags enable you to monitor any valuables on your premises, so that if they’re stolen, they are much easier to locate and eventually get back. Label all your goods and log all the details. If something goes missing, you can report it as lost or stolen. Some labels come with built-in trackers, so you can actually see where your goods are and get them back.
Guest post by Charlie Curtis-Jones who writes for Brentwood Radios, leading supplier of two-way radio communication equipment for business safety needs.
If you’ve started a small business recently, you’ll know how hard you have to work to succeed, especially in these times. Luckily, there are ways to save money on running your business, money that can either be reinvested or spent in your local community to help grow the economy. Saving money on your business energy bills is a great way to start.
So, perhaps you’ve just moved into new premises and inherited out-of-contract rates or ‘deemed rates’ from the previous contracted tenants. Getting your quotes in quick and signing for a proper tariff could see you save as more than 65% on your bills instantly. Setting up a direct debit to pay your supplier straight away can also bring a saving of about 3% on average, but you need to make sure you have the money in the account on the DD day.
Once you’ve got your new contract in place, check the expiry date and make a note of it in your diary… Now flick back a few pages so you’re at about eight weeks before the expiration date... Now flick back a few more pages and write in big letters “NOTIFY ENERGY SUPPLIER IN WRITING OF TERMINATION OF CONTRACT”.
On this day, you need to write a letter informing your supplier that you are terminating the contract. Why? Because contracts have an automatic renewal clause, and once this kicks in, you’ll find that you’re the victim of price increase – sometimes up to 40%!
Yes – FORTY PERCENT!
A letter of termination is straightforward to write. It doesn’t have to be fancy, just a simple letter stating from the expiry date you will not be renewing your current contract. Pop this in the post and use the ‘signed-for’ service, so you have a record of when it’s received. Once you know your contract is no longer going to be renewed, you can gather quotes, but remember that business energy quotes are only legitimate for the day upon which it’s been quoted, after that, they cease to be valid.
You should find that your supplier and other suppliers will be just itching to give you the lowest rates they can for the next contract period. Coincide this with seasons of low energy usage (eg the summer months) and you can secure a nice low rate for the next 12 months.
Forget mainstream price comparison sites and consider chatting to a UIA energy broker. They’re specialists in business energy suppliers and how to get the best deals. Many offer free advice and consultation, so you’ve got nothing to lose by giving them a call. Energy brokers will actively negotiate with suppliers to lower your energy rates, so you’re not being quoted from an automated system.