Office Space For Entrepreneurs & Start-Ups In Hong Kong
You run a business, you love it, you immerse yourself in it. We understand your passion and know how important it is for your success.
We take care of your office logistics so that you have more time and resources to spend on the most essential parts of your growing business. So how exactly do Compass Offices’ tailored workspace solutions help companies in their early stages?
Compass Offices was a start-up once, and we know that it’s hard to stay focused on your passion when a multitude of challenges and technicalities arise. Our flexible office for entrepreneurs in Hong Kong is designed to transform your company. Tap into our wealth of experience connecting like-minded professionals, assisting in founding companies, supporting expansion into new cities and countries, getting you quickly started with virtual offices and much more.
We help you keep the drive for success alive, by taking on the complications of finding a productive business office space for start-ups.
1. Why rent an office in Hong Kong?
For a start-ups and entrepreneurs, renting an office is a crucial step in creating an excellent first impression. The right workplace solution will also keep you agile, facilitate organic business connections, and keep your budget clean and tight. Reasons why leasing serviced office space is a good idea for young companies include:
- Create a professional outlook with a reputable address: Clients don’t necessarily have to visit your office to perceive professionality; a recognisable address will also do this.
- Corporate-fitted meeting rooms for face-to-face conferences: Plus, a modern reception area and service team to greet your guests.
- Shared office space facilitates co-operation with nearby businesses: A conducive environment and lounging areas help you turn networking into business opportunities.
- Flexible lease terms, so you can stay agile with your business development: The ability to quickly scale up or down helps you save time and cut costs. Plus, with Compass Offices, you have the choice to relocate to another of our 10+ business centres.
- Clear-cut guidelines for service costs allow you to budget easily: One of the key aspects of serviced offices and entrepreneur co-working spaces are price transparency.
- Rent per desk to effortlessly calculate headcount capacity: Flexi-space grows with your team – if your headcount increases, just rent more desks versus calculating how much more square footage you need.
2. When should start-ups and entrepreneur lease an office?
For foundling companies in their early stages, keeping the budget clean is absolutely essential. Deciding when is the best timing for moving the company out of your home office or coffee shop is key. Doing so at the wrong time can create a leak in your finances, which prevents your business from growing. So when is the right time for a start-up to look for an office rental in Hong Kong?
There are a couple of signs that it’s the time to look for a cost-effective start-up office:
- Are you planning to hire another pair of hands? If your team grows to three or more, it’s probably time to find a start-up office space.
- If you’ve already formed a team, evaluate their working styles and needs. Would being in the same business space improve communication? Would facilities provided by serviced offices enhance employee morale, i.e. social breakout areas for relaxing, complimentary pantry access and meeting rooms for team meetings?
- Is your firm client-facing? Do you require professional serviced offices to meet investors, vendors, partners, and clients?
- Are your services or products becoming more and more in-demand, such that you expect to grow exponentially within the next year? Get into an office space for start-ups now that will grow with you depending on your needs; with Compass Offices’ flexible lease terms, you won’t have to worry about long-term commitment.
3. What are the different types of offices available for start-ups and entrepreneurs?
As a stimulating region for budding tech, investment, and financial firms, there are different business space options for young companies in Hong Kong. From a wide scope, there are two main types of offices: conventional offices and flexible workspace like serviced offices and co-working spaces.
Traditional offices are empty spaces leased out per square metre. These office rentals usually require long-term commitment of two years at minimum. They also cost more at the outset, requiring design, renovation, outfitting, and furnishing. There’s typically more of a focus on individual cubicles and dedicated desks rather than an open layout.
Serviced offices are typically more cost-effective than conventional offices. Rental cost is calculated per work desk, and business services like printing, copying, Wi-Fi and IT infrastructure are included. This combined with their inherent flexibility (you can move in and out quickly because they are business-ready; lease periods are allowed to be much shorter at months, weeks, or even days if required) means they make much more sense for start-up companies.
Compass Offices also offers shared offices and co-working space in Hong Kong if you’re in need of a short-term solution. When you grow, our suite of options creates a seamless transition from shared workspace to a scalable private office.
4. What to consider when renting an office as a start-up
The pros of renting entrepreneur office space at serviced offices are manifold. We understand that there are a lot of moving parts that come with growing your passion into a workable business. So we offer the financial and logistical flexibility so that you can focus your capital in high growth aspects.
With Compass Offices, benefit from smaller security deposits and lower investment for long-term payoffs when you impress your clients and customers. You can start at a hot desk, move to a short-term rental in shared office space for start-ups, and then scale into a larger office or even a different business centre in Compass Offices’ extensive network when you expand. We don’t incur penalties for relocating to another one of our locations throughout Hong Kong.
Enjoy all the perks of a corporate-grade office, 24/7 secure entry, the latest in wireless broadband, Grade A amenities and prime location without the rigid contract terms.
Traditional offices require fit-out, equipment, utility and administrative services that incur high start up and CapEx costs. More than anyone, start-ups need cost-effective workspace solutions. At Compass Offices’ business centres, all tenants (no matter if you’re renting a start-up co-working space or office suite) can avail of the all-inclusive services like a modern furnished private office, contemporary interior design, business lounges for unwinding and casual meetings, corporate fitted meeting rooms with industry-leading conference facilities, printer and broadband Internet.
In a start-up, the name of the game is speed. Everything from registering your business to finding an office space is the time that you aren’t focused on your core business. Compass Offices allowed us to avoid all that hassle and with the best network in Hong Kong, it supported our business needs to expand effortlessly.Shing Chow, Founder of Lalamove
Moving With The Times
It took studying economics and playing Texas Hold'em for Shing Chow to realise his true calling: transforming logistics delivery. It was neither a short nor straight road that led Shing Chow from his days and nights as a professional Texas Hold’em poker player to his current life as a tech entrepreneur.
His story of growing a start-up into one of the largest courier networks in Asia started in mid-2013, when he wanted to get a van to transport his belongings to a nearby storage place. After calling five different companies and hours of waiting for a van to arrive, he gave up and used three taxis instead.
It dawned on him that getting a van was more difficult than winning at Poker. That was when he realised that he wanted to prove that finding a reliable logistic delivery is not an impossible mission. So like all great entrepreneurs, Shing decided to take this challenge and present a solution.
Leaning on the discipline instilled in him from endless hours at the poker table, Shing jumped right into building lalamove (also known as EasyVan in Hong Kong) and immediately started to hire a small team of developers and customer service personnel. With the right team, he needed the right office for his start-up company.
Shing understood that flexibility and speed would be the ingredients for quick growth so he turned to Compass Offices for entrepreneurial workspace. Our network of offices and business support services allowed lalamove to focus resources on its customers. In two months, lalamove was live and the rest is history.
The company has grown to a network of over 30,000 delivery drivers across 15 cities in Asia. With over 300 employees and more than 1.8 million deliveries to date lalamove continues to deliver on its promise of a better way to do delivery. And it all began in a start-up workspace provided by Compass Offices.
If you're just starting out with your business talk to us about how we can help you focus on what's important and make your business grow by providing a smooth office rental process.