STRATEGIC PROPERTY DECISIONS AND THEIR FINANCIAL CONSIDERATIONS: AN SME FOCUS.

Preliminary evidence shows that entrepreneurs strategically use property throughout the lifecycle (e.g. pre-venture, operational life and post-venture) of their ventures. Depending on which stage the venture is at, property may be used for business accommodation or as core part of a business, to generate income and accumulate profit, and/or as a long-term investment with a view toward retirement income. We extend these findings by investigating the financial considerations of entrepreneurs operating small to medium enterprises when making decisions relating to property and real estate. We conducted a two-part study consisting of a survey of 194 entrepreneurs followed by in-depth interviews with SME owners of a variety of businesses around New Zealand. We find a range of views relating to strategic use of property depending on the type and life cycle stage of the business and the views of the business owner towards property ownership [ABSTRACT FROM AUTHOR]