The RICS (Royal Institution of Chartered Surveyors) has launched a guide to help small businesses take better control of their finances through managing their property assets differently.
Property costs – such as business rates and rent – are one of the most significant expenses incurred by SMEs and failure to take professional advice as to how to manage them could costs businesses thousands of pounds.
The guide, which is free for business owners, is available now and covers all aspects of the property process.
It has been endorsed by the Federation of Small Businesses, the British Retail Consortium and the Association of Town and City Management.
Included within the guide is advice on issues such as business rates and tax allowances.
Paul Bagust, RICS associate director (pictured), said: “Times are still hard for many small businesses across the UK. Property costs are both one of the biggest overheads and one of the most complex assets to properly manage and we hope that this guide can prove an invaluable resource.”
The guide is available at www.rics.org/smeproperty.