Finding suitable space to run your business can be a struggle, as there are numerous factors to take into consideration, such as location, efficiency, and the amount of space available. The UK is a nation of entrepreneurs, with 99.9 per cent of businesses classed as SME (Small to Medium Enterprise), and 76 per cent being a single person business.
CEO at Smart Storage, Mike Wilson, offers readers tips on how self-storage units can benefit small to medium businesses over owning a larger shop. Self-storage units are an alternative solution for businesses to grow and become a serious competitor within their sector or industry.
With 70 per cent of self-storage users living within 20 minutes of their unit and over 1,430 self-storage sites in the UK offering 42.2 million square feet of space, there’s a huge variation of options available to UK business owners.
Broaden and improve your office space
It has become increasingly popular for small businesses to operate in a self-storage unit over an office. This way of operating not only avoids the distractions of a home office, it is also more feasible as it saves the business owner office rental fees, with total employment in SMEs at 15.7 million in 2016, this can be highly beneficial for smaller businesses.
Self-storage also offers businesses space which can be converted into a comfortable office space. This means business owners can put their own stamp on the unit and make sure it’s perfect for their employees and clients.
With storage spaces, businesses have the option to free up space, or simply expand their unit to accommodate a growing workforce without the hassle of upgrading offices. With a combined annual turnover of SMEs at £1.8 trillion in the UK, this type of business offers so much to the economy.
Flexibility for your business
With SMEs generally having a large turnover of staff, they need flexibility for options of expansion, and self-storage offers this, allowing more flexibility than that of office rentals. A vital benefit self-storage brings for this expansion, is the amount of time which is saved, and for companies that are constantly growing and changing, this is a viable option.
Self-storage unit’s flexibility is especially useful for seasonal businesses who can benefit greatly from a more flexible arrangement. Some businesses need to downsize instead of expanding in different seasons of the year, and self-storage offers this flexibility. With two out of three UK businesses affected by seasonality, self-storage can help with this.
A great benefit of self-storage is it can expand or downsize to fit your business, which is a vital factor for business owners of small or medium businesses. Self-storage units come in a variety of different sizes, meaning business owners are only paying for the space they need.
Self-storage allows business owners to spend their time and energy on running their business, as they don’t need to worry about any unexpected bills as self-storage offers one flat rate. They also don’t need to worry about relocating their offices in times of business expansion.
Increase business profit margins
As self-storage units offer businesses additional space for less cost, it allows these businesses the opportunity to buy, create, or store more stock.
With more access to low-cost storage space, it allows companies to save money as they are able to buy products in bulk. This is a great way to prevent stock shortages and supply backlog which can greatly damage a small or medium sized business and its reputation rapidly.
With an increased business population of two per cent since 2015, it means competition is rising, meaning businesses need to avoid anything which can damage their business.
Self-storage offers businesses safety and security which larger shops cannot provide. With great security features, your business and stock are incredibly safe and secure within the unit. This is a highly beneficial factor for businesses who store important paperwork or documents.
Mike Wilson is CEO of Smart Storage in the North West of England.