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What can I do when I can no longer pay my rent for my business because of no fault of my own?
Wiki User
∙ 8y ago
It's not true to say that it was no fault of your own, by being self employed/ a director you were aware of the risks and should have taken adequate steps to mitigate those risks for example having savings and an investment portfolio if you are a sole trader and having sufficient liquidity if it is a limited company. If it is a limited company then if it cannot sustain it's costs then as a director you should put it into administration. If it was genuinely not your fault for example a client owes you money then while the aforementioned still holds true, you should threaten legal action to reclaim what is owed and if necessary goto court. however as this takes time it underscores the importance of having capital reserves.
Wiki User
∙ 8y ago
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Why people leave their houses?
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Is a building considered an asset?
If building is owned by business then it is asset of business while if building is acquired on rent then it is not an asset of business.
Can you rent a semi with out a business?
Yes
Where can one find a business space to rent?
One can find a business space to rent by contacting the local housing agency. The local housing agency should be able to find a business space to rent that suits one's needs.
What is a rent?
Rent is the money you pay an owner for use of the property. Many people rent business offices and homes.
Is paying rent considered a liability?
If rent is payable then it is liability for business but if rent is already paid then it is not liability but it is expense.
Is rent expense an other expense?
If rent is paid for any activity which is directly related with the primary business activity then rent is not other expense, but if rent is paid for activity which is not directly related to primary business activity then it is other expense.
Must you pay rent if there is no contract and you are no longer living in the apartment?
If there is no lease agreement and you are no longer living in the unit, then there is nothing by which you are bound to continue to pay the rent.
What is the true meaning of lease space for small business.?
Lease space is where you rent a space for your business. It is rent for your business, what money you make from your business that month can help go toward pay the lease on the space.
