Approximately 20% of all small businesses fail in their first year, according to data released by the US Census Bureau. While countless factors contribute to the success of a business, finding the right premises is among the most critical.
Acquiring your business premises can prove to be one of the best investments you can make as a business owner. Apart from providing you with the opportunity to build equity, owning your business premises may also provide you with certain tax advantages.
To enjoy all the benefits associated with owning your premises, it is essential to keep it well-maintained at all times. There are several things, such as the following, to keep in mind when striving to keep your premises in tip-top shape for the benefit of both your business and its clients.
Health and Safety Must be a Priority
When you effectively manage your property, you can avoid several potential issues including plumbing problems, structural damage, and machine failure. Effective property maintenance can also help make sure that the health and safety of employees and visitors alike are never compromised.
In the US, businesses have to comply with the Occupational Safety and Health Act of 1970. It is important to note that health and safety go beyond just the level of cleanliness of the business premises.
Apart from carrying out routine maintenance, periodic risk assessments of the premises are also required. This includes evaluating everything from regular staircases and fire escapes to floors, doors, and windows.
Make a Good First Impression
Apart from being conducive to improved health and safety, optimal maintenance can also contribute to making a good first impression. When a potential client enters your building, chances are that even the tiniest details can influence their perception of the business.
A clean and well-maintained business environment will make a good first impression, indicating that the business is professional and trustworthy. An environment that is in obvious need of a good cleaning and some urgent maintenance, however, may give visitors and employees the impression that the business is struggling or untrustworthy.
If you, as a business owner, find it difficult to keep up with the maintenance requirements of your premises, it might be a good idea to hire a dedicated maintenance manager or enlist the services of a maintenance company to assist.
Employee Happiness is Important Too
Well-maintained business premises can contribute directly to employee comfort and happiness which, in turn, impacts productivity. Your employees spend the biggest part of their day in the workplace.
Being able to work in a safe, clean, and comfortable environment should therefore be considered a basic employee right. Areas to focus on include everything from the HVAC system to the elevator. Staying on top of cleaning and maintenance can also reduce sickness and injury among employees which can improve job satisfaction while decreasing general absenteeism.
Acquiring your business premises is both a big accomplishment and a big responsibility. To fully enjoy the benefits of owning your business space, it is important to ensure the property always remains well-maintained.