Businesses struggling to pay quarterly rent charges

The majority of companies must pay 3 months’ rent in advance for commercial properties.

Due to poor economic conditions and a rise in sales on the internet, more than 21,000 jobs have been lost on high streets since the beginning of the year. In terms of likelihood of company failures within the next annum the retail sector is looking at expected figures of 26%.

Some business owners are trying to agree new lease terms or arrange to pay monthly instead of quarterly; however this decision will be made by each landlord individually. Some businesses have to adapt their business just to survive.

If the current economic climate has hit your company hard, or you are struggling financially, speak to Beer & Young. They may be able to help you with funding in the form of a business angel.