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Setting up an Office for Your New Business

Setting up an Office for Your New Business

When a business is in its initial stages, the owners feel the need to have a physical meeting place. They need a place where all relevant people can meet and share ideas. Talking and discussing in person has many advantages over virtual communication. When considering workspaces solutions, there are several options that owners can choose from.

The first option for getting some space for your office is to rent it. But then the question arises: Why rent workspaces in UK? There are several advantages of office space for rent. The biggest advantage is that it incurs minimum cost. It is way cheaper to rent a space for your office instead of buying it. The prices are rising rapidly in the real estate industry. If you want to set up your office in an impressive locality, it is almost impossible to buy a place. On the other hand, renting a place would be far more affordable. It also eliminates problems such as setting up new internet and phone connections. Many rented offices also come fully furnished. This way, you can save time and money and focus on your business operations. You will have a business meeting room ready to use (meeting room definition: a room where you can gather with other individuals in the company and hold formal and informal meetings).

However, there are also several disadvantages of office space for rent. The rent is often increased every year as per the contract. Also, you are not free to modify the office space according to your needs. You are forced to make do with what you have been given. Below are some tips when renting your office space. You can also use these when looking for ways to find cheap office in UK.

The first and foremost attribute that you should look for in your new office should be its accessibility. It should be easy for all the employees to travel to and from the office. Also, make sure the space is neither too small nor too big for your team. There are many types of short term office spaces. Nowadays, the type that is gaining rapid popularity is the creative office space. This has fewer rooms and one large hall for cubicles or long worktables shared by several employees. Another common type is a co-working office. In this type of setup, you share your office with one other company. This way, rent and other expenses for the office can be cut down even further.

Once your office space is properly setup, with all the necessities installed, you will be ready to start conducting business.

Short-Term Workspace Solutions to Help Keep You Going!

Short-Term Workspace Solutions to Help Keep You Going!

Office spaces are vital to several people belonging to the workforce. They provide workers with not only a place to think and organize themselves but to also effectively carry out tasks, and are therefore important for businesses hiring workers as well. To find the perfect workspace that suits your needs best is a difficult task and may take a lot of time. Times where there is an urgent need for such spaces, people may make rash decisions in order to get a space as quickly as possible. However if one realizes that there are several short term workspaces solutions this may not happen and they could still have a space and get down to business promptly.

Here’s a look at a few solutions we believe are the most effective and may help you solve your problem instantly!

Short term leases. If you want to search for the perfect place for your office but need one to work in immediately the options of short-term leases are probably the best for you. By renting out offices on short-term leases you can spend your time working, while simultaneously looking for the perfect space in a better location or whatever better suits your needs. Once you find that place, you need not hesitate before entering a long-term lease agreement.

Workspace clouds. If you are an individual worker and require a space to work but do not have the funds or have not yet found the perfect place, there are solutions to ensure your short-term work is not affected. Workspace clouds on the Internet allow you to upload, and therefore carry, all of your data that you require to work so that you can access it at any place, anytime and from almost any device. This means you can practically work from anywhere regardless of whether or not you have an office space that is permanent.

Hot-desking. Another fairly new but interesting concept is that of hot desk rentals. These are essentially where a lot of workers use the same office space or desk at different times of the day and work their shifts in order to save money- making this the perfect short-term low-cost workspace solution.  It also ensures that the person renting the desk is put into an office environment, surrounded by people that are working, and is therefore motivated to do so themselves.


Renting an Office Space Vs. Buying an Office Space

Renting an Office Space Vs. Buying an Office Space

To set-up a small business in the absence of considerable funds is yet a decision that requires some considerations. With some advantages and disadvantages of renting an office space, we therefore feel that the decision of expansion has to be made according to the needs, duration, capital, return, and success of the business.  Of course, there is no one clear concise answer to the question – Should you rent office space or buy an office space? But there are some reasons why you may or may not want to buy an office space. If you have stable long standing counseling practice that you believe is going to be consistent further for a long run, then you may prefer to run your business in the same location and stay the same size. At this point, buying an office space might be a real good idea for your business because instead of paying rent, you may be building equity in that space. However, if you have plans to expand your business and not certain about the longevity of it – like, it would shrink in size after years or will change direction or focus – it wouldn’t be recommended to buy an office space at this scenario.

Renting an office space gives lot more opportunities to small business entrepreneurs. One of them is use of the shared space at affordable rates, which is also a growing trend nowadays.  Besides the obvious cost saving benefit, it offers other perks, as well. Such as, small businesses could have centralized receptionist, and centralized accounting systems instead of their individual ones. Also, with shared space sharing, entrepreneurs get a chance to network with other entrepreneurs and thus collaborate with each other.

There is also a headache factor when it comes to buying an office space. In case of your own office property, you have to invest some costs on its maintenance. But, if you’re a renter then you don’t have to worry about up keep and maintenance as much because, that is landlord’s headache not yours.

With the purchase of office property, entrepreneurs will face issue of less flexibility and less freedom to change locations later. However, it might be beneficial for some businesses to purchase than renting, because on annual basis, rent can increase at any time. And, those who rent office space, the market will dictate them to end up paying high rental costs at long run.