One of the first things on your to-do list when starting a business is to look for an affordable, but presentable office space, that has all the utilities and amenities you need to run operations smoothly.
Working from home is currently very popular and you could consider using the extra room in your home as your office. After all when you’re starting up you really need a cheap office space because you’re not earning that much. A home office is convenient when you have limited funds. However down the road you might realize that a dedicated work space will improve your productivity and efficiency because for the simple fact that it’s removed from your daily home routine.
Right now you could be realizing that it’s time to move out of that desk by the kitchen window into a proper office that will allow your business to grow. But finding cheap offices is a difficult task, especially if you live in a developed country. What options do you have when you’re working with a shoestring budget?
1. Ask other businesses if they have extra/unused space that they are willing to rent out
First find an area where you would like to conduct business. Once you’ve decided on a part of the city that would be a good place to network and work in, look around and visit other businesses. They could have extra rooms that they are willing to rent out to startups that have limited equipment and manpower. It’s also possible for you to link up with other startups and agree on splitting an office space with them in case you find something that would be too big for either of you to occupy alone.
One of the perks of this setup, aside from being able to save on rent, is the opportunity to connect and interact with other startups. New contacts and connections are really important in spreading the word around about your business when you’re still starting up. Also this is a really cool way to meet new people. You can also exchange and share expertise, knowledge, ideas and resources. You can ask for their help and at the same time offer them your assistance too. Plus, even if your company only has three or four other employees, you won’t be lonely because you “go to work” with other people.
2. Consider a Coworking space in your area
Using a coworking space is a great option to consider when you are looking for affordable space. You get to share space and resources with other people who, like you, need their own area to work in without being tied to daunting lease agreements. Turning to coworking spaces gives you an office space on-demand. You can choose to use the space for maybe a day, perhaps just to meet with some clients, or you can book the space on a weekly or monthly basis depending on your needs. This keeps the amount you spend on office rent under control. Another advantage is that you don’t have to deal with the utilities and service providers while having access to the best facilities possible.
You’ll see a lot of diversity and free flow of ideas in a coworking setup. This will significantly increase your own creativity. Being around people who are working hard to achieve their goals will also rub off on you. It will motivate you and push you to succeed. Also you won’t be distracted by screaming kids, playful pets or the fridge in the kitchen.
3. Look for Serviced Offices
As your company starts to grow, using a coworking space may no longer be a viable option. These spaces are often best when you are working alone or only have one or two other people to work with. As you add more manpower and equipment to your growing business you’ll need more space.
Serviced offices are run by facility management companies. They take care of everything that you might need in an office including the furniture, utilities, security, receptionists and even the administrative support. Choosing a serviced office will take a considerable amount of load off of your shoulders. You won’t have to worry about the small details of running a company.
Serviced offices can also provide you with a prestigious address at more flexible conditions. Finding cheap offices in a city like Singapore or Hong Kong which are located near the central business district is next to impossible unless you choose a serviced office. A serviced office in an established area can provide you with just the right size of space at friendlier and shorter contracts. Various amenities are also included with these spaces and you also have access to parking areas, common pantries, comfort rooms and conference rooms. If you choose to rent an un-managed space than you would have to bear the costs of setting it up and maintaining it on your own.
Serviced offices also allow you to display your brand or identity. You can put up your logo and other company information at the door or the main reception. You can also lock your office and secure your equipment and documents after office hours. Therefore a serviced office offers you the privacy to do your own thing.
4. Look for government owned spaces
Local governments support their own businessmen and might put up government-owned properties for rent. The rates for these spaces are generally cheaper than privately owned facilities but the upkeep of the area depends on the party renting it.
There are a lot of options available if you’re looking for office space within a limited budget so there’s no need to worry. What are you waiting for? Search for an office now!