How to choose the best workspace for your business

512x512-MyBus-Icon-V3_flattenThere was a time when traditional office served as the only choice for organisations, however today’s businesses can be just as productive by communicating online and using technology solutions to collaborate. Entrepreneurs operate from everywhere - coffee shops, kitchen tables, serviced offices and co-working spaces in addition to the traditional office.

There was a time when traditional office served as the only choice for organisations, however today’s businesses can be just as productive by communicating online and using technology solutions to collaborate. Entrepreneurs operate from everywhere - coffee shops, kitchen tables, serviced offices and co-working spaces in addition to the traditional office.

One of Servcorp's meeting rooms

We interviewed Marcus Moufarrige, Sales Director at Servcorp on different workspace strategies and his advice on choosing the perfect solution for your business.

What office set up do you suggest to start with?

“When you’re starting out, you should be looking at ways you can share your overheads, keep start up costs low and put the money saved on rent back into your business,” says Marcus. “Renting your own space can be a huge chunk of your expenses when you start out,  so I would consider working virtually first if and where possible”

While having a fixed term lease can work well for businesses, there’s a certain amount of risk involved with jumping into your own space too soon. “Most commercial leases range from 2 to 5 years, and so if you’re small and you’re starting out and you’ve only got a couple of team members, this may be too big a commitment” Moufarrige argues. “You don’t know where you’re going to be in three years – flexibility to be able to grow and contract on demand becomes vital in those early years”.

More and more businesses are embracing the concept of working virtually in order to grow their corporate identity and presence as quickly and cost effectively as possible. Servcorp takes the hassle out of finding other companies that are willing to share space and infrastructure costs.

The idea behind a Virtual Office is quite simple: it is a physical office space, in a sought-after business location, an admin team shared by numerous companies in order to lower costs. Servcorp offers a Virtual Office providing their clients with a premium CBD location, IT & communications infrastructure, flexibility and secretarial and administrative staff to represent your business, all whilst you work from home or your favourite coffee shop!

When should a company transition to an office?

One obvious factor is space, a Virtual Office may suit when you don’t need to locate all your staff team members in one office full time, but if you find yourself needing your own space for your team to work privately every day a serviced office may be the next stepping stone. Servcorp leads the charge in not only providing businesses with prestigious CBD offices around the world, but also the technology and telecommunications solutions perfect for companies looking to accommodate between 1-10 staff members without compromising on quality . ‘Taking an office doesn’t need to become as big a commitment as you think.  Choosing a serviced office instead of your own space will ensure you reduce your rental overheads. The leasing of furniture and office equipment, utilities and staff wages are just three of the ongoing costs you won't need to pay with a serviced office - There's also the cost of  IT and communication solutions you will need to establish and maintain your business. Choosing a serviced office means all this will be organised for you. Servcorp currently takes care of the day-to-day office management of 35,000 companies globally, leaving them to focus on growing their business” – Moufarrige says.

Another factor is work environment. If the space you are working in is interfering with your work, it might also be time to opt for an environment you can control. Needing a private space to work from may prompt the need to step up to an actual office.  As your business grows, a traditional office can be a great fit. Traditional space gives you the benefit to control your branding, signage & fit out.

Marcus Moufarrige then points out: ‘When you want to expand to new markets – be it onshore or offshore, don't rule out Virtual or Serviced offices as solutions that let you explore new opportunities without high cost and risky long term commitments. Being part of the Servcorp serviced office network gives you access to our 120 locations around the world - something other commercial real estate leases can't offer’.

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