Published 27 October 2017 Category: Compass Tips, Entrepreneurs, SMEs, Startups, Business

What Does ‘The Perfect Office Space’ Mean To You?

What exactly constitutes the perfect office space? Every business is different, and finding a “home” for your business is not exactly an easy feat. With so many factors to consider, like location, size, amenities, style, and price to name a few, combined with the fact that businesses are ever-changing and growing; how can you ensure that your office will evolve and adapt just as quickly as you do?

Research shows that customers are almost always more likely to consider a business trustworthy and credible when it has a physical location or address attached to its name. It makes sense too; think about scheduling a prospective client pitch in a noisy coffee shop or your living room…not exactly emulating business stability and professionalism.

This presents a common issue for businesses able to largely operate virtually, and the digital age we are living in has brought a huge up rise in remote offices. An office space however, delivers a sense of reliability, which cannot typically be achieved by businesses operating from their homes or coffee shops.

But conventional offices tend to be expensive. Understandably, and more often than not, it is therefore simply out of budget for startups and entrepreneurs just launching their big idea to land a space that positively reflects the company and its innovation from the inside. What’s more discouraging? Real estate projections only predict commercial property leases to be increasing in price. For this reason, many startups settle for an office space that may not be in the best neighborhood or feature the nicest interior.

For argument’s sake, say you are lucky enough to land a decent office space in a nice part of town, just big enough to accommodate the current stage of your business, and just expensive enough to make it work with the budget. What happens when you, as most businesses (hopefully) do, grow? It’s time to bring in more talent, more physical resources, and more meeting rooms to accommodate that growing client base. But the building you are in has no more room available.

Now brace yourself for a big move to a bigger building, the headache of an address change, designing a whole new space to accurately reflect your business philosophy, not to mention the cost of moving. Or, what if (business Gods forbid), business fails and now you have the overhead of a conventional lease for years to come? (Stress-management Breakout spaces, anyone?)

So is there an alternative?
Companies are discovering a third, option between conventional offices for rent and virtual address packages. Co-working spaces are not only the perfect compromise with regard to cost and a physical location, but they are essentially the only option for ensuring flexibility.

These trendy, up-and-coming office spaces specialise in adaptability. Offices are fully furnished, accessible, and rentable by the day, week or month. From private single person offices and large spaces, and even bigger conference rooms. Alongside your office, all membership options give businesses full access to work in open lounges, meeting rooms, cafés, entertainment rooms and breakout spaces. All utilities, like printers, amenities, and state-of-the-art technologies are included in a simple monthly rate, which can always be altered or expanded parallel with your unique business needs.

After all, an office space should be just as flexible as your business.