Commercial property could house more start-up businesses

Thursday, March 25, 2010

Now is the right time to start-up a business, one entrepreneur has advised.

By Ashley Brunskill

Property investment could be on the cards for new businesses, which have been advised that now is the right time to launch a company.

The current economic climate is ideal for start-up firms because the cost of setting up is lower than previous periods, entrepreneur Julie Meyer said.

As such, purchasing or signing agreements for commercial property could be a cheaper exercise and businesses may find they get more for their money.

Her comments came after recent figures from the Local Data Company revealed that 11,000 more shops opened last year than closed.

Nearly 10,000 of these were independent start-ups, which may have seen demand for affordable commercial property increase.

"Timing is a huge advantage, and [those with] the smart money always know you have to be building in the downturn in order to pull ahead in the upturn," Ms Meyer said.

The Local Data Company survey also noted that local start-up retailers are filling in some of the gaps left on the high street by major chain closures.

Source: ask-re The Property People LLP