David Cameron last month announced plans to free up 300 premises for new businesses and entrepreneurs.
The under-used or empty government owned office premises and buildings will be offered to startups at a low cost for one year to enable new companies to establish themselves while small firms will be able to benefit from the cheaper deals.
The announcement comes after a recent review of the government’s property estate found that around 456,000 square metres across 550 offices were not being fully utilised, which is equivalent to 2.4% of total empty space across the UK. Most of which is as a result of cuts in the public sector.
Not only will the new scheme help new businesses in starting out it will also help raise additional income for Treasury finances. It has been reported that some of these buildings have been empty for more than a decade, costing the taxpayer hefty sums in maintenance costs.
As well as renting the premises out to new firms the government are also working towards disposing of unused property and re-negotiating leases or sub-letting offices.
As well as letting premises out to firms for discounted rates, the government are also launching another initiative for contractors and small firms. The Business in You scheme will see established companies hold workshops and give advice on tackling some of the issues faced by employers during this time of economic uncertainty.