For small business, big leaps mean the difference between propulsion and stagnation. No matter how stringent a bean counter you are, a business stuck in one place will inadvertently head for the financial gutter. Even the best laid plans of mice and men often go awry, as Steinbeck and Burns would agree – but without taking an occasional leap of faith your enterprise is bound to falter.
This isn’t an original viewpoint. In many ways, it’s the foundation upon which capitalism is built. So when you’re a small business, what are some of the bigger choices you’ll have to make?
For a start, you’ll eventually have to consider moving into a commercial property.
Large number of SMEs begin online, whether it’s as a highfalutin media agency or a clothing shop selling bespoke sweaters. But when you’re an up and comer in the marketplace, you’ll eventually need a more professional location than your living room.
Just think – would you really want to entertain high-rolling clients from the dinky kitchen in your home?
Shell out and enjoy
But a new premises is a big purchase. Generally, you’ll be locked into a lease for at least 12 months, and you’ll have to shell out to refurbish your new workspace.
The potential for success, however, far outweighs the cost. A workspace, whether it’s a retail outlet or a small office, is a hub of productivity that’ll motivate you far more than working on your laptop in your bedroom.
