It is exciting yet tough to grow a business, especially to find the appropriate office space. Consider your company hiring new employees, but your current office is too small to accommodate them all. Moving to a bigger, more traditional office space would involve long-term leases, costly overheads, and the hassle of setting everything up again from scratch. To many firms, these represent reasons to slow down the business growth cycle and waste resources other than necessary. But if this is not so? That is where shared offices come in.
They open up opportunities for businesses to grow freely without the added costs or commitment as one would have with regular offices. It sets the ease of scaling really fast and efficiently. Let’s see how they do it.
Let us have a look at 8 ways shared office spaces help the business grow at a higher rate:
A traditional office setup is very pricey. You just don’t pay the rent but there are costs associated with utilities, furniture, maintenance, cleaning, and more. All of this can take a lot out from the budget of a startup or small enterprise looking to expand. So, they need to opt for cost-effective solutions.
Shared offices eliminate those extra costs. You generally pay a flat fee that can include everything from Wi-Fi to electricity to cleaning services. And the furniture and equipment are often already there, too. This way, you are able to focus your money on things that really matter – hiring new team members or launching a new product. You are not wasting your funds on paying for office space.
One of the greatest disadvantages of regular offices is the propensity to lock you into lengthy leases. How do you cope with growth in your team? Suddenly you need more space, but you are committed for a period of time with a small office. Or what if your business experiences a run of poor form? You are still committed to rent, and you no longer need the space.
Shared offices solve this problem with flexible terms. You can rent a desk, a private office, or even meeting rooms for as long or as short a period as you need. This makes scaling business much easier, with zero frustration of breaking a lease or paying for space you are not using.
You share an office space with people coming from various different backgrounds and industries, hence possible opportunities of exposure. One is likely to find oneself discussing something with a person who may become his business partner one day, and even your client.
This collaborative environment is great for networking with other founders, brainstorming ideas, and even learning other things. The network you would get here is organic, daily networking that can’t be experienced in a typical office and is only available with your own team.
One of the underrated benefits of flexible workspaces is that for the price paid, these workspaces often bring forth high-quality, lush amenities. Many of these spaces come with meeting rooms, high-speed internet, printing services, and sometimes even extras like on-site cafés, gyms, or relaxation areas.
For a small or growing company, access to these amenities can make a big difference. Just imagine trying to hold a very important client meeting in a cramped up coffee shop versus a professional, fully-equipped meeting room in a coworking space. That is the kind of resources which can help upgrade your company’s image without blowing the budget.
Time is money, especially for fast-growing businesses. Opening a typical office takes time. This is because it’s basically finding the space, negotiating on the lease, buying furniture, setting up the internet and utilities. This can take weeks, if not months, and can delay your business plan.
A startup space lets you in and get to work almost instantly. The space is already set up and ready to go. That lets you, again, focus on your business and bring to market your products or services much faster than you would have done with your office logistics.
Shared offices can facilitate collective interaction for people from different industries and backgrounds in their respective spaces. This gives birth to ideas and innovations that may not occur in normal offices.
You are bound to come up with innovative and intuitive solutions to problems or innovate new ways of doing things whenever you are around people with diverse skills and backgrounds.
Running an office comes with a lot of administrative work. You are responsible for cleaning services, utility bills, office security, and sometimes even repairs. Such activities consume time and energy from what really matters – business growth and success.
Shared offices take these burdens off your plate. A coworking space provider handles all day-to-day operations so you can focus on running your company. This frees up your time and mental energy to concentrate on scaling your business rather than worrying about office headaches.
Today, most workers, especially among the younger professional groups, are looking for more than just a paycheck. They want an environment that is fluid, modern, and inspiring. You get this with shared offices; they are built to bring creativity and productivity and are made with open layouts, comfortable furniture, and plenty of natural light.
Providing your team with this kind of space can help you attract the best talent out there, especially when you are competing with one of the larger companies that might have bigger budgets. Workers appreciate flexibility and community sense so much that this is likely to make an immense difference when you are trying to hire the best people.
It is a competitive business world today. Emerging businesses require agility, value for money, and connectivity to expand fast. While saving overhead costs, good networking opportunities, and providing access to high-end facilities, these shared offices remove most of the problems associated with traditional office spaces. This leaves businesses free to focus on what matters to them most: growth.
If you are in search for a reliable shared office solution, Avanta Business Centre offers premium office spaces with flexible rental options. With high-end facilities, a professional atmosphere, affordable pricing, and prime locations, you can grow your business without any hassle. Contact today!
