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State Office Space for Rent

The Government is set to reveal new plans to offer state owned office space to entrepreneurs and start-ups in a bid to help small companies establish themselves.

Mr Cameron is expected to announce the scheme today as he visits the North East to present the ΓÇ£Business in YouΓÇ¥ campaign encouraging entrepreneurialism. The Telegraph newspaper is anticipating the Prime MinisterΓÇÖs speech to include:

ΓÇ£I said 2012 has got to be the year we go for it, the year we light new fires of ambition in our economy, the year we get behind Britain’s grafters, doers, hard-workers and entrepreneurs. This isn’t something we’d quite like to do – it’s something we’ve got to do because enterprise is critical to this country’s future. Enterprise is what we do in Britain. This is the year that, more than ever, we’ve got to go for it.ΓÇ¥

The recent public cuts, accompanied by the current economic climate have left the government with an abundance of under used space. The BBC has reported that the proposal will initially involve 300 offices that will be available on short term and flexible leases. Until the space can be sold, this is seen as a productive opportunity to help reduce the governmentΓÇÖs deficit whilst providing low cost office space, for up to a year, to a variety of small businesses.

With gross domestic product (GDP) figures due to be released for the final quarter of 2011 this week, the prospects of the country enduring a double dip recession will become apparent. The government is clearly focusing on encouraging growth of small business with perhaps Mr Cameron believing that enterprise is key to the successes and immediate future of the UKΓÇÖs economy. However, could this announcement damage the commercial rental market with private landlords being undercut by the governmentΓÇÖs offer?

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Author: | January 23, 2012 | 0 Comments

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