Regardless of the size of your business or how long it has been running, you will eventually need to source a suitable storage solution that works.
A lot of documents are stored digitally, but many forms and other paperwork will still need to be physically kept safe. Your business model will determine what storage you need.
For instance, wholesalers need to store items for longer periods of time or keep large quantities of stock secure, while legal teams may just want the comfort of knowing that their archived papers are safe and easily accessible.
Trying to sift through all the options, along with deciding what is the most cost effective and efficient option for you can be a big undertaking, so here we explain the three most popular types to help you better understand the choices available to you.

A fixed form of storage, separate from your office and owned, run and maintained by a third party, used to be an expensive option, but there are a variety of more economic methods available now.
One option is to pay for a certain amount of space at a storage facility. This model is great for businesses looking to store archive documents and free up office space.
These services normally offer pick-up, keep an online inventory and do returns when requested.
Another option is called logistical storage. This is great for businesses that deliver to customers and clients and is an all-round service.
You pay for outsourced storage (which is flexible and dependent on how much space you need), as well as a warehouse management system, quality control, packing and delivery service. It’s best to use just one system to help things run smoothly and it will save time too. This method tends to be more expensive so ensure you really need it before going ahead. For example, not everyone will need climate control. And try to pick a location that feeds directly into your distribution network – it will make a huge difference to transport costs.

Similar to physical storage, this option still involves you paying for a separate unit, but you will run the system.
Although this isn’t always as efficient or organised as when you pay a third party, it is more cost effective, an important benefit if you’re a start-up. This is more suited for archiving paperwork, storing office supplies and equipment, small scale distribution or storing excess stock. You won’t have to pay council tax or business rates on this option and as you are the only person with access to the unit, that makes it a secure, and not too
time-consuming, option.

With so much information online, digital storage is these days absolutely vital for most companies. From emails to presentations and graphics, you should always back up your data. External hard drives are relatively inexpensive, making them a great option for smaller businesses and start-ups. However, this might only work for smaller outfits. As your company grows and you recruit, then a cloud service could suit you more.
Cloud storage allows all your digital information to be kept in one place and it can be accessed whenever and wherever you want.
Do your research as every company is different and you want one that’s right for your needs.


Ways to impress potential clients

Once you’re up and running and ready to bring clients on board, you may wonder how to go the extra...

How an ‘alternative MBA’ can drive your business career further...

Graduating from an executive master’s degree enables business leaders to emerge inspired – and...