Small Business Closed Due to COVID? No Need to Liquidate When You Have a Storage Unit
Small businesses remain in precarious situations around the country. Many small businesses have closed, but they may not be sure if it’s a temporary closure or permanent. Others have drastically modified their business structure and suddenly have to store brick-and-mortar materials in the home. If you’re a small business owner feeling pressured to liquidate your business assets since there’s no telling when the pandemic will be over, don’t let lack of space be the deciding factor.
Storage units for businesses are available in a variety of sizes and with a number of features such as outlets and temperature control. Small business owners have utilized storage facilities for years to hold onto inventory, materials that might be necessary in the future, and other odds and ends such as marketing materials. However, for small business owners who are new to the idea of storage, you probably have some questions.
The Benefits of Storage Units
Some business owners have a single storage unit for their business needs while others have multiple in order to further separate items and inventory. A reputable storage facility has advanced security systems so that you can rest easy knowing your items are okay. In fact, it’s much less likely for a storage unit to be burglarized than a home or business, making storage units one of the safest possible places for your business items.
In and out privileges are flexible for storage unit renters so you can easily access your unit at your convenience. You can also change your storage unit based on changing business needs, scaling it up or down as you wish. Payments are easily accepted and can be integrated with your other AP/AR software. Plus, storage units for business needs can be a tax write-off as long as you exclusively store business items in the facility.
Preparing for the Future
A lot of small business owners don’t know what the future holds—to a more pressing degree than normal. You might be wondering if it’s worthwhile to hold onto your inventory or try to make some quick cash by selling it at a discount. This is something only you can decide, but it’s important not to make a rash decision when it comes to liquidating your business.
Talking with your CPA can be a great way to gauge the pros and cons of liquidation or storing your inventory and business items. Storage units can be rented short-term or long-term. Maybe your business is transitioning from a brick-and-mortar boutique to completely online, but you need time to digitize items and get your e-store up and running. A storage unit gives you the space and time necessary to make this transition correctly. Using a storage facility helps keep your home and work life separate and can be a key part of helping you mentally shift to a virtual business. To find out more about storage units near you, call Oquirrh View Storage.