Self-Assessment – What Type of Office Space Is Best for Your Business?

For today’s businesses and professionals, office space technology has made office work more comfortable. With a variety office styles to choose from, the conventional office is increasingly becoming a way of the past as newer, trendier formats woo renters away. Pods, co-working spaces, remote working, virtual offices, and the long-standing serviced and executive offices provide businesses with cost-effective ways to have adequate office space.

Figuring out which office style suits your business’s needs depends on the industry and the purpose of the office. While there are a number of factors that go into growing a successful business, the mission of your office can be aided by simply choosing an office lease that allows your business to breathe. The modern office lease, thankfully, can provide you with a number of diverse options from which to choose.

Keep reading to discover how you can maximise your business’s potential by choosing an appropriate office lease.

For Mobility

Businesses that need an office that will allow them to move around when necessary should consider adopting the co-working space or the virtual office format. The co-working space allows businesses to lease the use of space, but their primary benefit is that you can find co-working spaces in most cities at an affordable rate. For this reason, moving around is not a problem. Servcorp’s co-working space in Singapore, for example, offers competitive rates but also has other locations in and around the globe. Co-working spaces work best for companies that are much smaller.

The virtual office works similarly and is probably the cheapest of all of the plans. This office format provides professionals with the ability to lease the use of conference rooms, boardrooms, and meeting rooms. Like co-working spaces, virtual offices provide businesses with the freedom to move around, test markets, open new businesses and expand.

For Flexibility

Those businesses that need flexibility where the lease is concerned would benefit from the serviced office industry in general because of the various spaces you can find yourself in. In addition to co-working and the virtual office, the serviced office or the executive suite are great options for businesses who do not want to commit to protracted contracts. Because many of the contracts are month-to-month and the initial start-up costs are very low, these office formats provide professionals with more flexibility in terms of keeping their overhead low. Furthermore, many of these leases are scalable and transferable, allowing businesses to expand and relocate by simply modifying the leasing terms.

For Image

Again going with one of the bigger serviced office leasing companies will provide you with a lease that places your business in some of the more prestigious locations in and around the city, and all at a low cost. The benefit of going with a larger outfit is that these giants tend to have offices around the world. Whether you choose the simple virtual office plan or the more dressed up executive suite, you will not only be provided exceptional service but your business will benefit from the prestige that goes along with being in affluent locations around the world.

For Community

Co-working spaces are far more the better choice when looking for a space that will provide your business with both networking and collaboration opportunities. These spaces focus on making the office more than just a place to work by including many of the social functions that are missing from the standard office. Beyond just providing your business with a place to operate, co-working offices support the whole cause of industry, which includes holding conferences, networking events, barbecues, and movie nights, all the hopes of building community within the office. Typically, the start-up finds a place in these enclaves.

Finding The Right Spot

You can run your business right out of your own garage. However, a business needs more than just the basics to make it function. Ultimately, your business’s needs depend on the course you plan to take with the venture.

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