Published 20 September 2016 Category: Startup, Compass Tips

5 Benefits of Serviced Offices for SMEs and Startups

Finding a space for your business can be one of the biggest challenges in starting a company – but if traipsing around unappealing office blocks is starting to wear thin, a serviced office might be the answer to all your real estate dreams.

Here’s a few reasons why:

Flexibility
Staying on your toes is all part and parcel of life as an SME or startup – and that’s exactly the kind of flexibility and freedom that serviced offices specialise in. Thanks to short-term lease agreements and pay-as-you-go usage, there’s no need to be tied to long-term fixed rental contracts that you may not have the budget for in future months. With a serviced office, you’re free to up or downsize your space or change your location at the drop of a hat depending on the needs of your business – in short, it’s a space that can be every bit as flexible as your business itself!
 
Facilities
With a regular office rental, finding the space is only half of the story – what about the furniture, the utilities, the maintenance staff? With serviced offices, all this (and frequently much more) is taken care of, with a full infrastructure already up and running for you to take advantage of. We’re talking meeting rooms, office furniture, conference and video calling functionality, IT support and maintenance, Internet and telephone connectivity, electricity and lighting, cleaning and security services, air conditioning, reception staff… the list is endless. More importantly, all this means you can concentrate on the truly important stuff – working on your actual business itself!
 
Location
Snagging a space at a serviced office brings you all the benefits of a prime location, but without the eye-wateringly expensive prices regular rental properties often come with. Serviced offices are usually pretty savvy about picking the right spots for their branches, ensuring that they’re in the thick of the action... and having a proper office address in a central business district certainly looks a lot more professional than an anonymous PO box! Convenience is also an important factor – CBDs are likely to have good transport links making it easier for employees and customers to reach you, as well as plenty of nearby amenities like banks, post offices, shops and restaurants that are bound to be useful for everyday working life.
 
Budget
We’ve touched on it briefly in all the reasons above but it’s worth spelling out again – serviced offices really are great options for those on a strict or unpredictable budget. With the range of facilities and locations available, plus utilities and other services included, you’re likely to get more bang for your buck in the first place; factor in the flexibility of monthly rental packages that mean you can easily vacate the space if times get tough without being tied to deposits or no-break clauses, and it’s a win-win situation for SMEs and startups.
 
Networking

By now, we’ve established that serviced offices are a pretty good bet for your business… and you certainly aren’t the only SME or startup that’s come to this realisation! Serviced offices are a great place to meet like-minded entrepreneurs and professionals; they’re there for all the same reasons you are, meaning you probably have lots of great business knowledge to share.

Increasing your network is only ever a good thing – so whether it’s sharing the growing pains of a small business with a sympathetic ear that’s gone through the exact same process or simply discovering some mutual connections that could be beneficial for both parties, working in a serviced office could be the beginning of several beautiful friendships! Many serviced offices also host networking events and industry talks, which can also prove fruitful for picking up expert tips and useful contacts.