Are you ready to rent?

Whether it’s more packing space you need or whether your team is growing and your home office is just not big enough, there are many reasons why some small businesses decide to take the leap and sign a lease agreement.

But are you absolutely sure your business is ready for it? Ithala Development Finance Corporation are experts in this industry and boasts one of the largest rental property portfolios in KZN. The property managers at Ithala can assist with your application and can help you choose the best space for your small business needs.

Read: 5 tips to make your industrial office space warmer

Here are three questions you need to ask yourself before you start your search for commercial premises.

1. Can your business sustain the costs?

Are you doing enough business to warrant a move to bigger premises, and do you have enough paying clients to keep you afloat? Remember that renting industrial property comes with a myriad of extra expenses. Your financial outlay will be much more than you’re currently used to. Does your business have enough money to make this move? 

2. Do you really need the extra space?

If your business has suddenly received more orders than your home office can handle, do you really need to tie yourself into a lease? If the orders are not recurring ones and are still once-off, do you need all that extra space? Have you considered renting a small storage and warehouse space on an ad hoc basis, to facilitate the packing of orders when they do come in? 

3. Is your business dependent on staff working in the same office?

Ask yourself honestly if your team needs to work side by side every day. Many businesses have seen the value in allowing their staff to work from home and some make use of communal office spaces. Many of these offices have facilities like conference rooms and desks with access to printers, Internet connections and great coffee. Perhaps your team can meet once a week to catch up on projects, while they work from home for the rest of the week. In most cases, reimbursing your team for their Internet connections is a lot cheaper than paying for office space.

If your answers clearly point in the direction of renting a space, then make sure you contact Ithala Development Finance Corporation. Ithala has a portfolio of properties in various KZN locations to suit your industrial space needs. Choose from developments such as Pinemead Park, Paramount Park and Umlazi Retail amongst others. Let their friendly and professional service help you make the decision your business needs.

Visit www.ithala.co.za for more information or visit www.myithalastory.com for inspirational stories.