Out with the old, in with the new. The pandemic challenged and altered our idea of what a working environment should look like. The introduction of hybrid working promoted the idea of increased collaboration between colleagues. This concept has been retained and encouraged as businesses return to the office environment. There has certainly been a shift from traditional office spaces dominated by rows of desks and lack of collaborative spaces to adaptable, multifunctional and social workplaces.
However, the financial commitment of renting a permanent space deters many start-ups and small businesses, to take the leap. Serviced offices provide a fantastic solution and are flexible regarding the requirements (including lease duration), size and budget of the company.
Definition: A type of rented office space that is fully furnished and is ready to use.
These offices are usually found in prime locations, such as in the business districts of large cities. It is the responsibility of a serviced office broker (us!) to listen to your company’s requirements and search the market for the perfect space.
So, why should your business consider a serviced office?
A serviced office allows you to optimise your office spend. Whether you need a few desks or a whole floor, this can be accommodated and is adaptable if your business scales up. This advantage appeals in particular to start-ups and small businesses.
→ Your business will not pay for unused or unnecessary space
For companies that are fast-growing and need to find space more quickly but don’t want the hassle of furnishing the space, serviced offices are the best solution. They are already equipped with desks and chairs, storage, printing facilities and Wi-Fi. In fact, there are often additional features such as kitchens, a canteen space and even on-site gyms. The presence of a multi-functional and highly-social working environment is ready before your company moves in.
→ Maintenance and overhead costs are reduced.
No matter whether you need an office for a month, three months or even a year, renting a serviced office allows your company to be flexible. For rapidly-growing businesses, one needs to quickly adapt, be willing to branch out and move into a larger space. The lack of long-term commitment means that this possibility is on the cards.
→ Your company can move in and relocate at short notice.
It’s no secret that London is one of the most expensive cities in the world to rent office space. A serviced office provides an affordable solution to renting in a prime location which would with any other lease agreement be unaffordable and hence unsustainable for your company. Being located in a desirable location means you will be close to public transport links but also amenities such as bars, restaurants and retail.
→ Access to prime locations without the long-term financial concern
It’s likely that your chosen office space will be located in a shared building where other companies work. You will encounter a variety of people and perhaps those working in your field. A serviced office truly provides the chance to network and meet like-minded individuals.
→ Opportunities to network and potentially broaden business horizons.
Definition: Co-working is an arrangement in which employees from different companies share office space.
Although co-working spaces share similarities with serviced offices, they are more suitable for businesses and individuals who are looking to rent by the hour or day. The concept of a serviced office builds on the idea of co-working; they encourage flexibility and collaborative working but offer more privacy and have fewer areas shared by multiple businesses.
This feature safeguards the confidentiality of your business and supports administrative practice to a higher degree. Also, because multiple businesses share a co-working space, you have less control over office layout and branding. If you want to create a sense of brand identity, then serviced office spaces out-rival co-working environments.
Whether you are a fast-growing business that needs to adapt to an ever-growing team, an international company needing to lay its foundations in a new country, or a start-up looking to rent out their first office space, serviced offices provide a practical yet flexible and multi-functional workspace solution.