The London Growth Hub is offering free Masterclasses and one-to-one mentoring to London-based SMEs to help them understand commercial leases and negotiate the lease that works best for them.
Delivered by Nwes and supported by the Mayor of London and the London Economic Action Partnership (LEAP), the free Masterclasses are open to any London-based SME that’s thinking about moving premises or is currently negotiating a new lease on their business or commercial property. To gain access to the Masterclasses, applicants fill out a simple online form at https://www.growthhub.london/property-advice-service/providing information about their business. Once registered they will also gain free access to a range of resources as part of the London Growth Hub portal, and access.
Running in January, February and March 2018, six Masterclasses and six Expert Panel sessions will take place across the capital. In addition, there will be 150 2-hour one-on-one mentoring sessions where individuals will be able to ask a property expert specific questions about a lease they are currently negotiating.
Nwes have teamed up with a range of commercial property and leasing professionals to provide participants with access to expert knowledge free of charge, giving them the legal and financial understanding they need to negotiate a lease that benefits their business in the optimum way.
London’s Deputy Mayor for Business, Rajesh Agrawal, said: “The Mayor and I are committed to helping start-ups and small businesses overcome the barriers they face when trying to expand. And one of those barriers is being able to locate suitable workspaces to move into as they grow, not to mention the complex process of negotiating a lease with a new landlord.
“It is often the case that smaller companies do not have the experience or expertise to negotiate the best deal and that’s where the London Growth Hub’s new Property Advice Service comes in. Growing businesses can access a series of masterclasses, online guidance and individual advice sessions, all of which will give them direct access to experts so they can realise their potential.”
Richard Salmon, Regional Director of Nwes, said: “Because of their size, most SMEs have neither the personnel nor the resources to negotiate a lease that works for their business rather than against it. At the same time, they rarely have the financial means to hire a specialist solicitor to do the necessary work for them. It can mean the lease they end up with is neither fair nor equitable – damaging their business, slowing its growth and incurring unnecessary costs. In fact, an unsuitable property or badly negotiated lease can make or break a small- to medium-sized business. Armed with what they learn at a London Growth Hub Masterclass on the other hand, SME owners will know exactly what to expect and what questions to ask when sitting down with a landlord or landlord’s agent”.