A fancy office is no fast track to success and you should think long and hard before wasting valuable start-up funds on leasing expensive premises. Serviced or “virtual” offices can be just as effective, with lower costs, month-to-month contracts and no or low break fees and depending on your business, your own home may be a great place to start…Apple and Google both started out at their founders’ homes!
One additional point is that in a slower economy there are deals to be found on commercial or retail property in some areas. Many landlords are open to flexibility if it means extra rent for them.
Make sure that your solicitor reviews a lease before committing yourself or your company by signing!
Jonathan Abrams is a Commercial Lawyer at Gregory Abrams Davidson LLP. You can contact him or our Property Department at email@example.com or +44 (0)20 7979 2066.