Today’s office setting is as varied as the businesses that occupy them. Many small businesses just starting out often find coworking spaces and serviced office settings most practical for their limited budgets. For businesses outgrowing the confines of such offices, the option to rent or buy space is always there.
So, how do you figure out what type of workspace is best for your small business? Below, we offer some practical tips and helpful advice for anyone looking to find a new home for their small business.
For any small business on a tight budget, a virtual office may be the answer. If your business can be conducted virtually, and your employees can work anywhere they are, a virtual office gives you the professionality you need to impress your clients and customers.
Virtual offices often come with a physical mailing address to use, and some even come with a dedicated phone number and receptionist services to give your customers a professional first impression. If you would like to avoid the monthly expenses associated with a traditional office setting, consider a virtual office for your business. This is an ideal solution if the budget is tight but you need a presence in a particular area. Your business cards and associated literature can show your office address in the Financial District or Silicon Valley, or you can have multiple prestigious addresses globally.
Coworking spaces are essentially shared office spaces that include individual desks, private meeting rooms, coffee, and other amenities often found in a traditional office setting. The only difference is the “offices” are shared by various freelancers, startups, and entrepreneurs who desire an office setting without the expense. The biggest benefit when using a coworking space is the sense of community it provides thanks to the shared real estate.
Serviced offices are cropping up all over the world due to increased demand. A serviced office is a single office, or an entire floor of office space, rented on a monthly basis. The service part comes in the form of packaged services provided by the office’s owner. These services may include receptionist service, IT infrastructure and support, administrative services, telecom services, maintenance, mail handling, and around-the-clock security.
Added benefits for renters include things like common reception areas, conference rooms, breakrooms, and utilities included in the monthly rent.
Rent/Purchase Office Space
Larger businesses or businesses who are well established often choose to rent or purchase office space. The advantages of such are obvious as these options give you a permanent location from which to conduct your business. While this is the standard for most businesses, it is also the most expensive way as there is a monthly rent or mortgage payment, utility bills, and maintenance expenses. One advantage of renting over purchasing is that the landlord is usually responsible for making repairs.
The home office has come a long way in recent years as improvements in technology have made it possible to conduct more jobs from the comfort of home. The home office can be anything from a small corner in the living room to an entirely separate room in the home. Being able to work from home comes with many benefits including no more dreaded commute, flexible work schedule, and a smaller carbon footprint on the environment.
Not all businesses are created equal, which means their workspaces should be unique as well. Gone are the days of the traditional office, and in its place, are several options for doing business the modern way. Choose to work in your pajamas from home or rent a desk from a co-working company. No matter what option you choose, either virtual offices or a home office, there’s a perfect workspace for every small business.
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