One in five small businesses feel that their premises or location are preventing them from progressing, according to new research.
A study by HSBC Bank found that 20 per cent of firms thought that their current workplace hampered their future success, with retailers and manufacturers most concerned about their location.
Businesses in remote areas were particularly unhappy with their location, with one in four firms in the Borders and the South West wishing they were in a more prime position.
Despite the widespread dissatisfaction with current premises, HSBC said that surprisingly few businesses were planning a move.
The bank found that just one in ten bosses appeared serious enough about moving to be considering a commercial mortgage in 2004.
HSBC said that going into the commercial property market can be daunting, but it has financial advantages over relocation. Property is likely to increase in value and can act as a valuable asset when seeking finance.
Ian Moore, of HSBC, said that location, location, location is as true for businesses as it is for homebuyers.
“A poor location or premises can put customers off, making access to major transport networks more difficult and restrict recruitment opportunities.
“The wrong choice of property could also restrict growth – without planning for the future a business might quite simply run out of space,” he said.
