How A Serviced Office Can Benefit Startups

With the advent of flexible workspace solutions, many startups are turning to different office options that suit their requirements. While budget-friendly rental leases are the go-to option for many start-ups, it encounters many unmanageable drawbacks in the long run. The same applies when purchasing or investing in office spaces. This is where a serviced office comes in to combat these challenges and to provide the following benefits.

Cost-Effective

One of the main benefits of serviced offices for start-ups come from cost savings. Financial management is crucial for start-ups and underlies potential growth. As serviced offices already come with office essentials and equipment, all these costs are included in the monthly or annual rent. Everything from maintenance, cleaning, and even other services like mail and phone management will be included in the rent. Start-ups will not have to deal with the hassle of unexpected costs popping out every now and then. This allows them to budget expenses more accurately and plan effective investment decisions.

Reputation

Serviced offices are rented in business centres that are located in very prestigious locations. Usually for a start-up to establish credibility and attract potential talent and customers, location plays a major role. Moreover, the professional identity of a start-up improves when they are located in a business address that is popular for a given industry. Carrying a reputed business address in marketing materials also provides a start-up with more trustworthiness and acceptability. Getting the same benefit of a well-established business location through a traditional private office is extremely costly and comes with very high business rates.

Minimal Downtime

Unlike when start-ups rent or buy an office, serviced offices are fully equipped at the time of renting, so it's possible to move straight away with minimal downtime. There is no extra cost on purchasing office goods, waiting for them to arrive, setting them up or getting them to working conditions. It's also important to mention that as serviced offices are offered as part of a business centre service, they also have a 24/7 support desk and IT teams to help with technical difficulties. All these not only support minimal downtime in your workspace but also make a tremendous impact on productivity.

Easy Networking Opportunities

If there is one thing that undoubtedly benefits start-ups to thrive in the market, it's professional networks. As serviced offices are located in a business centre, it provides ample networking opportunities for start-ups that cannot be met elsewhere. The collaborative community of a business centre with options like recreational rooms, lobby, event spaces and meeting rooms for rent means that start-ups are likely to bump into professionals which can lead to the development of beneficial business relationships.

Flexibility

The start-up stage of any business is unpredictable as it requires up or downscaling according to market performance. However, a traditional workspace can keep startups committed to a long-term contractual agreement that can restrict operations as businesses grow or shrink. It can especially shed a financial burden if the business is facing a loss and the income generation isn't sufficient to afford the rent. In contrast, serviced offices have flexible contracts which can be as short as one month or for as long as a year, and they can be adapted (expanded or downsized) easily to accommodate any office space requirements.