As a business owner, finding the right office space is crucial. There are many things to carefully consider when deciding on your place of business, such as whether the success of selling your products, the location suitability for your employees, whether you plan to expand in the future and the risks of being bound by mortgage or lease agreements if a venture goes under.

To buy or to lease?

The first question to ask is whether to buy or lease your office space. Retailers generally fare better by buying, since logistically the cost of relocation of inventory and furniture when a lease expires is high. By buying an office property, you will also have an added asset at the end of the mortgage period.

The right agent is key

Make sure you hire an experienced commercial agent so that you have the choice of a wide variety of properties to match your requirements. Your agent should help you learn to identify your space needs, locate rental property that best fits those needs, negotiate the best lease possible and explain how that lease could affect you in the future.

An experienced agent is also highly useful as they can warn you of any pitfalls associated with a potential property and point out the benefits to help you make the right decision.

Location is gold

Make sure that your office location is accessible to both customers and staff. Your employees need to be able to easily commute to your place of business or it could become difficult retaining the right people.

Businesses such as retailers are made or sunk through location - if customers can't find you, the quality of your products and services becomes irrelevant.

Business centres and rented offices can be a great choice to gain a prime location fast. For example, part of the business and financial appeal of London for companies is the first class rented executive office space and business centres available in exclusive locations.

It is also important to be aware of the location infrastructure. For example, make sure the property is not prone to flooding during a heavy downpour.