BUSINESSNEWS
DO YOU HAVE ENOUGH ON YOUR PLATE RUNNING A BUSINESS? A SMART METER COULD HELP Energy is a key expense for small catering businesses which makes it a crucial area for these businesses to save money and take control of their finances. Smart meters could give businesses additional visibility over energy use and costs to make it easier to identify where changes and savings can be made. In addition, sustainability is a key focus for many businesses across Great Britain – the smart meter rollout is predicted to reduce CO2 emissions by an estimated 34.4m tonnes – so by getting smart meters installed in your business you’re helping achieve this, making your business that bit more sustainable. Running an independent coffee shop, bar or restaurant is a round-the-clock job and supplying your energy readings is often not a top priority. Smart meters send your gas and electricity readings directly to your energy supplier, saving you time to focus on other jobs. Firms with 10 employees or less could be eligible and installations can be arranged at a convenient time to ensure minimal interruption to your business and your clients. To find out more please scan the QR code here:
10 THINGS YOU SHOULD BE THINKING ABOUT DOING NOW AS A PROPERTY LANDLORD Adam Jones, GJS Dillon’s Director for Property Asset Management sets out his 10 point plan for property owners now that the economy has re-opened:
Business rates – Are you currently paying business rates on empty properties? Have you investigated options to minimise your liabilities?
Insurance – Have there been any tenancy changes? It’s vital this information is kept accurate as it could invalidate your insurance.
Utilities – Whether the property is currently empty or let then it is really important to keep a close eye on utility costs which might have a real effect on your margin.
Inspections – Have you recently carried out an inspection of the property? Have any new problems developed that need to be looked at by professionals or contractors? Contractors – The consistent message coming back from contractors is “we are really busy and we can’t get enough labour or materials”. So, you will need to plan ahead plus expect higher costs! Health and Safety – Now is a good time to ensure that all the mandatory health and safety checks (such as electrical and gas testing, asbestos, lifting equipment, fire equipment etc) are up to date. Covenant strength – There has never been a more important time to monitor the financial strength of your tenants.
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Lease expiries or rent reviews – This is a detailed area and one that can have significant ramifications to both landlord and tenant. Schedule of Conditions / Dilapidations – We recommend that a Schedule of Condition is carried out prior to a new tenancy and that professional advice is sought with regards to dilapidations when a tenant moves out. Future purchases – We’ve seen an active commercial property market in Worcestershire with both office and industrial sectors performing better than one might expect considering recent events. So we recommend you make the most of this opportunity. www.gjsdillon.co.uk
September/October 2021
