Small businesses will 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 this month by Business Minister Baroness Wilcox.
The Small Business Lease, which is free to download from http://www.rics.org/smallbusinesslease is aimed at highstreet retailers and offers mutually beneficial terms to landlords and tenants in a flexible lease.
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."