6 July 2012

New business lease aims to ‘make life simpler’ for small firms

The Government has launched a new business lease which aims to make it easier and less costly for small businesses to move into new premises.

The Small Business Lease is available to download free of charge, and was the result of a collaboration between property professionals, landlords and the retail sector.

The documents include two versions of the contract, together with guidance materials for landlords, occupiers and professional advisers.

The aim is to provide a short, simple and flexible contract that sets out clearly to all parties the details of the agreement that is being entered into.

Commenting on the launch, Business minister Baroness Wilcox said, ‘This initiative will make life simpler for independent retailers and other small businesses. Negotiating a lease for a shop or office should not be a daunting task. By using this new contract both landlord and tenant will know that they are agreeing fair terms that provide clarity for both sides’.

It is also hoped that the new lease will help contribute to the recovery of the UK’s ailing high streets.

Paul Bagust of the Royal Institution of Chartered Surveyors (RICS) said, ‘In simplifying the leasing process for landlords and small business tenants, we hope to support SMEs and provide a boost to the British high street in a time of decline – thereby contributing to overall UK economic productivity’.

The Small Business Lease is available on the RICS website, here: www.rics.org/smallbusinesslease.

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