Anyone who has ever thought about setting up or running a business risks being caught out by hidden costs.

Being able to afford to rent or buy a commercial unit is one thing, but when insurance, service charges and rates are added on, costs can quickly escalate.

Now Dublin Chamber of Commerce and the Society of Chartered Surveyors Ireland (SCSI) have teamed up to launch a new guide to buying and renting property for SMEs. It comes hot on the heels of the news that 32,000 people set up new businesses in Ireland last year.

The new guide, entitled ‘A Guide to Property for SMEs’, will be launched this morning at the Dublin Chamber of Commerce offices in Clare Street, Dublin 2.

The guide, which will be available to download from the Dublin Chamber and SCSI websites, includes a comprehensive overview of what firms need to know in relation to their business premises including negotiating leases, rent reviews, commercial rates, service charges and more.

SCSI president Pauline Daly described it as "a must-have for all SMEs".

“There are a lot of aspects to consider when you’re buying or letting including insurance, tax, service charges, commercial rates and rent reviews,” she said.

“The guide aims to bring them all into one, so people know all that’s involved, and nothing creeps up on them. We hope it helps more businesses along the way.”