How your company’s choice of workspace can help you and your team to save money
The UK has recently been hit by economic turmoil, with confidence among owners of small British businesses having dropped to its lowest level since the COVID-19 pandemic, according to the Financial Times. If you are a UK entrepreneur, money could be a major concern for you right now.
Indeed, almost half of business owners in a recent survey by the Federation of Small Businesses said that revenues had declined in 2022’s third quarter. Furthermore, over 40% of the survey respondents believed that revenues would keep dropping during the subsequent quarter.
However, if you are currently seeking ways for your business to cut costs, you might not have realised how much money you could save simply by opting for a new workplace. This could also have financial benefits for your workers currently rocked by the cost-of-living crisis.
The right office can provide you with much more than just a room
The Startups website claims that, since the pandemic, “the serviced office has become a popular choice amongst small business owners and sole traders.” However, you might not be entirely in the know about what the term ‘serviced office’ actually means.
According to the Startups website, “a serviced office is a workspace which comes ready-furnished, with internet and phone lines pre-connected and devices already equipped.”
Hence, by renting a serviced office, you can get these services as part of the overall package and so do not have to source them separately.
Going down the serviced office route can be a lifeline for your corporate finances through at least helping you to more effectively budget, as you can cover multiple amenities and services with just one monthly fee and so more easily see at a glance what you are paying for all of them.
However, not all serviced offices are equal…
Since these offices can vary widely in what precisely they offer, it would be a good idea for you to ask an office broker to peruse many of the options on your behalf. The broker can later report back to you about what they have found, paving the way for you to make an informed decision.
Before even approaching an office broker, however, think carefully about where you would like your office to be. It could be a wise strategy for you to task a broker like Office Freedom with looking at serviced offices in Soho, since this Central London area is generously served by public transport.
For example, Soho boasts a wealth of London Underground links — meaning that London residents among your team could potentially make their commutes much more cost-effective and time-effective just by habitually taking the Tube.
Be careful what office rental deal you sign
That’s because, ideally, you want one that has been customised to your company’s specific needs and can be scaled up or down later. That way, you can avoid paying for superfluous extras — the kind you could too easily end up with were you to go for more of a fixed, one-size-fits-all plan for your new office.