Small businesses are the heart of our country. However, most of them cannot afford a conventional office. Also, with the changing economic conditions the costs of maintaining a traditional office and the stress involved is making the small business owners look out for an alternate solution like a shared office space. If you are a small business owner, here are the 6 advantages of leasing a shared office space.
A Professional Setting
Most of the shared office spaces or executive suites are located at stellar locations which would be extremely expensive and unattainable for a startup business. The office spaces are also designed very well with quality and functionality in mind and create a great impression and experience for your clients. Working at such nice locations will also boost your employee morale.
Usually, in case of a traditional office, it takes many months to acquire the space, build the office, to furnish it and to setup all the amenities. You have to do this all on your own. The landlord is not responsible. Whereas with shared office spaces, they are available right away and you can move in the very next day. It will save you a lot of time and money.
Low Overhead and Reduced Stress
Shared office spaces will save you a lot of money on the initial setup costs and the monthly maintenance costs when compared to a traditional office space. Most of the shared office spaces provide wonderful amenities and maintenance for free. They include package receiving and delivery, building security, IT support, furniture, internet, kitchen with fridge and microwave oven, well maintained washrooms and housekeeping.
Flexibility Of A Short Lease
Startups go through a lot of uncertainty and the burden of committing to a 3/5/7 year lease for a traditional office will make it even harder on them. Whereas shared office spaces have anywhere between 1 to 3 months as the minimum lease term. This provides small businesses with a lot of flexibility in scaling their office space on a need to do basis.
Improved Time Management and Productivity
Shared office spaces help you in avoiding the distractions of a home office or a public space and allows for maximum productivity. There is no appeal to watch a few minutes (that turn into hours) of television or walk the dog to kill time. Working from an office space takes away the ability to easily shy away from your responsibilities. Being surrounded by committed, enthusiastic workers is highly motivating, increasing your personal output. When compared to having all your team members work from their individual homes, working from an office space will improve collaboration and team communication.
You will have more social interaction as you will meet other tenants at the shared office space, who are from diverse industries. These interactions might lead you to new information, increase your knowledge, meet potential mentors, gain access to new resources and encourages serendipities. Your Network Is Your Net Worth and it might help you find some best talent to hire or lead to a bigger corporate company that might want to collaborate with your company.