Premises

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Premises

Setting up a base

Once you’ve settled into your premises, it can be a tough decision to move on to a new site. However, if you want your business to grow, you will need to increase your floor space.

Expanding your business

Start-up support complexes like the network of South West Innovation Centres provide the ideal launching point for small enterprises. Since opening in 2006, these centres have helped over 130 businesses get off the ground. But once you’ve outgrown your current space, you’ll need to move into larger offices. You’ll need to make a key decision here – how big an office do you really need? Taking into account your initial growth rate, you can calculate how quickly your business may expand over the next five years, and how much space you’ll need to accommodate that growth. What you don’t want to do is make the wrong decision:

  • Choose one that’s too small and you’ll quickly outgrow it again, forcing you to move a third time
  • Choose one that is too big and you’ll increase your overheads and costs whilst failing to generate any ROI.

For manufacturing businesses, the decision is even harder, as there has to be room enough for existing equipment and potential expansion. But you also need to minimise wasted or ‘dead’ space.

How do I find new premises?

In Torbay, there is an active network of support for new and growing businesses. Many private commercial landlords offer generous packages to expanding businesses. For office-based enterprises, that can include excellent deals on high-speed Internet connectivity and other office facilities.

 At the Torbay Development Agency, we have an extensive database of commercial property available for new and growing businesses in the region. To find out more, click here

Is it worth moving to a larger site?

Remaining in your current site will limit your ability to expand your business. Moving to a larger site can give you the opportunity to increase your operation and take on new staff.

How can the TDA help?

At the TDA, we have an online database of around 200 properties listed at any one time. We have the major commercial agents' properties listed covering Torbay. Offices, retail, leisure and industrial units are regularly updated. Our Inward Investment Manager can offer support finding the right property for your growing business. To find out more, email us at .