How to solve the office space problem

There are many challenges involved in setting up and running a small business, but one that is often difficult to solve is finding the right sized premises. You may already own a successful home-based small business which has got to the point where home simply isn’t big enough anymore; as a result, more office space is required.

Whether your requirement is for a production facility or office space, finding the right premises in the ideal location at the best price is not easy. Indeed, it is important that you operate your business in an environment that is suitable for both you and your business. And when considering new office space, you will want to be sure that you are getting the best deal possible; taking into consideration how much you will pay per square foot of office space, or for manufacturing facilities.

However, for small businesses, leasing office space can be expensive and may involve tying you into a minimum length contract such as one year. Unless your business is already guaranteed a full business pipeline or you have significant cash reserves, then committing to such a lengthy lease could be risky. Furthermore, buying premises in which to locate your business could also prove a very risky strategy in a time of falling property values.

But rather than be stuck with an office that is too large for current operations but has enough room for expansion, or alternatively settling for a perfectly sized office that is soon outgrown, serviced office space allows for rapid upgrading or downsizing according to business needs. Layouts of such offices tend to be very adaptable allowing one-man businesses or SMEs of up to 100 employees to be accommodated with ease.

Although it can be difficult finding office space anywhere in the UK, London can prove an exceptional challenge due to its sheer size and the number of businesses competing for space. However, that is why serviced offices in London are proving popular. Apart from the uncertainty over property prices and an unwillingness to commit to long leases, businesses find that taking serviced office space offers better flexibility. In addition, the amount of space can be appropriately sized.

Another major advantage of serviced offices for small businesses is that the power and communications infrastructure is already in place. Furthermore, if you are leasing or buying office space, or manufacturing facilities then it would be the business owner’s responsibility to arrange power, broadband and telephone contracts. However, this again adds significant costs and commitment to the business.

Whatever option you settle for, make sure that you are aware of the cost implications, factor in any future expansion plans and you’ll be all set!

Paul McIndoe writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.