Springfords LLP blog

Some news, views and comments about everything and anything, relevant and irreverent.

Roots for Success

10 May 2017

The Dreaming Spires and the Capital of the Highlands. More in contrast than in common you may think, but there’s at least one thing binding together the university city and the bonnie burgh on the eastern end of the Caledonian Canal. It’s a desirability for business start ups, and it’s all about location, location, location.

If your grand design is to build a business hiring out graduation gowns, then there could be worse places to start up than among the libraries and colleges of Oxford, with the spirit of Inspector Morse looking over your shoulder with studied approval. If you’d sooner cast a line of fashion, themed on the legends of Loch Ness, then you’d expect your catch to be well founded with a business in Inverness

The official register of UK domain names, Nominet, recently did some research, presumably online, and put together some criteria, presumably including some internet statistics, and came up with their list of the best places in Britain to start up a business. If their findings are to be believed, it’s time to jump on the Oxford Tube bus from Victoria, or pack your kilt for a Caledonian Sleeper trip over the Cairngorms to Inverness.

At Springfords, perfectly located in Edinburgh, Livingston and Falkirk, we suggest a whole range of factors be taken into account, before deciding on your business location. Internet connectivity is of course usually a given these days, but if you do have a commercial operation in mind, you may want to consider other ease of commerce issues too - like rent, running costs, accessibility to transport links, recognised competitors in the area, proximity of good quality housing for your staff, grant availability in your chosen post code to name but a few. After all, a peppercorn rent won’t be much of a saving if your new yacht chandlers is ten miles from the harbour, and on a hill, unless you find somewhere with pretty exceptional tides! Make a short sighted decision and you may end up beached, unable to reach your markets and saddled with debts to get your business back afloat. For that ill-fated and hypothetical nautical enterprise, High and Dry is a name we’d not vote for, just in case you’re thinking about it.

Nominet’s survey found Cambridge, Durham, Salisbury and Portsmouth all to be next in line for desirability, after the top two of Oxford and Inverness. Maybe it’s the cathedral spires, that give them all good internet signals - we’re not that technically minded.

Before you up sticks for any of these charming towns, or take in the naval delights of Portsmouth from the heights of the Spinnaker Tower, don’t forget that as well as your location, you need to really focus on all your running costs and prepare a good business plan and projections to ensure your best chance of success. Start ups, or any other business for that matter, rarely survive on luck, no matter where they’re located. That’s something Springfords always advise, long before getting out the atlas and the commercial property pages.

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springfords blog

Some news, views and comments about everything and anything, relevant and irreverent.

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