The recent research by Barclays highlighting Bradford as the best place in the UK to start up a new business makes a heartening reading.
Bradford has had to work very hard to re-invent itself after the long decline of the wool trade and it is encouraging to see that there are plenty of keen entrepreneurs in the City.
At Andrew Idle Associates we see evidence of this trend, and regularly lease out Premises to new businesses. We collect as much background information as we reasonably can on the individuals involved beforehand. Many such ventures stand the test of time but sadly not all do.
Naturally, most landlords would prefer to lease out their retail, office, industrial or leisure premises to a well-established company but, realistically, this is not always possible; especially if the unit in question is relatively small.
This is where skilful marketing becomes crucial. At Andrew Idle Associates we always look to maximise awareness of commercial properties to any potential occupiers who might be interested and to try to avoid excluding enquiries simply because the premises have not been adequately publicised.
Of course, the unit is large but only available for leasing, this may well put it out of the running for established firms who by that stage are looking to buy their own premises. As a result, some Landlords of such units, often under pressure with payment of empty business rates, would consider leasing them to a new venture.
Because Bradford’s rents are generally on the low side compared with many other major urban centres in the UK, new businesses benefit from tight overheads, and can often gain 100% business rates relief as well.
Increasingly as well, starter units in Bradford are offered on a very flexible basis with a simple licence agreement possibly for as short as six months initially.