Small businesses
will now find it easier to move into new business premises more
quickly and at a lower cost, thanks to a new business lease which
has been launched today by Business Minister Baroness Wilcox.
The Small Business Lease, which is free to down load and use,
will in particular help new and independent retailers.
Development of the new lease was led by the Royal Institution
for Chartered Surveyors (RICS), working with the British Retail
Consortium and British Property Federation. RICS members advised
on the new lease which was authored by Nick Darby, a solicitor
with SNR Denton UK LLP.
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.
“This is a significant step in the government’s work to make
it easier for small businesses to survive and prosper. Government
will work with the private sector to ensure small businesses are
accessing the new contract and reaping its benefits.”
Paul Bagust, Associate Director, Professional Groups and
Forums at 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.
“Moreover, by offering mutually beneficial terms to landlords
and tenants in a flexible lease, we are directly addressing the
principles of the Code for Leasing Business Premises - identified
in the Portas Review as a key tool in tackling the high street’s decline.”
The new lease is the result of collaboration between property
professionals, landlords and the retail sector. Government will
work with these organisations to raise awareness among small
businesses.
Notes to Editors 1. The new lease is free to download and
use. The documents provided include two versions of the contract,
together with guidance materials for landlords, occupiers and
professional advisers. These are available at www.rics.org/smallbusinesslease
2. The lease is a development of the Code for Leasing
Business Premises, a voluntary agreement to which many commercial
landlords and Local Authorities are committed. In her report on
Britain's High Streets, Mary Portas identified the Code
as an important resource that needed better promotion.
The Leasing Code: www.leasingbusinesspremises.co.uk
Landlords using the Code: www.clascheme.org.uk/scheme_members.html
Portas Review: www.bis.gov.uk/policies/business-sectors/retail/high-street-review
3. The Government's economic policy objective is to
achieve 'strong, sustainable and balanced growth that is
more evenly shared across the country and between
industries.' It set four ambitions in the ‘Plan for
Growth’ (PDF 1.7MB) , published at Budget 2011:
· To create the most competitive tax system in the G20
· To make the UK the best place in Europe to start, finance and
grow a business
· To encourage investment and exports as a route to a more
balanced economy
· To create a more educated workforce that is the most flexible
in Europe.
Work is underway across Government to achieve these
ambitions, including progress on more than 250 measures as part of
the Growth Review. Developing an Industrial Strategy gives new
impetus to this work by providing businesses, investors and the
public with more clarity about the long-term direction in which
the Government wants the economy to travel.
4. BIS's online newsroom contains the latest press
notices and speeches, as well as video and images for download. It
also features an up to date list of BIS press office contacts. See
http://www.bis.gov.uk/newsroom for more information.
Contacts:
BIS Press Office
bispress.releases@bis.gsi.gov.uk
Joanna Fletcher
Phone: 020 7215 5951
Joanna.Fletcher@bis.gsi.gov.uk