When it comes to business finances, one of the last things you perhaps think about is the very fabric of the building you run your business from. Whether you are self employed and working from home or are a limited or even public company working in a large building, if you own the property you work in then the chances are at some point you will need to consider renovations.
There are many reason why you might consider renovating your office space, not least employee general well-being, health and safety and even fuel efficiency leading to significant savings over time.
If you are leasing your property but are responsible for the heating bills then you might find a way to reach an agreement with your landlord in terms of both covering part of the expense of renovation – however if you own the property then there are so many reasons why you might want to consider this one quick and non-intrusive workplace renovation.
Unlike homeowners, many business owners don’t give too much thought to the benefits of having a roof that is intact, fit for purpose and energy efficient. Not only can the work completed be a tax deductible expense, but it can also save your business thousands in heating or cooling bills every single year for up to 50 years in some cases and usually for a minimum of 10 years (depending on the type of roof – flat, pitched etc.)
Typically, you might expect to save in excess of £1000 per year in a standard office space and larger buildings will save considerably more than that. We spoke to roofers Wolverhampton who told us that on average, most homeowners and businesses will expect to see savings after year 3-4 of investing in a new roof. In other words, the savings seen over the first 3-4 years pay for the roofing costs and after that it is a significant cost saving.
You may even be able to gain energy grants for some of the work.
The Added Benefits of Fitting a New Roof
Other than having an office or workplace that feels warmer in winter and cooler in Summer, the added benefits are clear to see. Reduced contents and building insurance premiums are likely with a building with a newer roof as well as the likelihood of water damage caused by a leaking roof – something that is very common in industrial flat roofs – is going to be far less likely. The price of furniture and computers can be covered by insurance payouts, but the time and in some cases data lost cannot be so easily recovered – not to mention the inconvenience it would cause for you, your employees and your customers. Lost revenues from having to close a store or office can be catastrophic and at best are a nuisance.
If you are unsure of how energy efficient or weatherproof your roof is then you should contact a local roofing company today and ask them to carry out a quick inspection. The savings are there to be had if your business is going to be located in that spot for some time and if you own the property then it really should be a priority.