How to save money while acquiring appropriate office space


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In some instances, acquiring office space can be a drain on resources, and this is especially true for start-up companies. An increasing number of real estate brokers and landlords require companies to sign for 3 to 5 year lease terms and have personal guarantees while renting an office.

For that reason, small companies are constantly seeking ways to minimise extra liabilities and grow. Before buying or leasing an office, it is advisable to think creatively and find ways to save money and time. Mentioned in this article are some of the ways in which you can save money while leasing an office space for your growing business.

  1.       Consider renting some shared office space.

Shared office space is becoming an increasingly popular option and is a great money saving idea when it comes to renting office space. This particular option is beneficial in that, given its setup, it allows the employees of a company to interact more and share ideas with each other. Additionally, the environment that it creates encourages collaboration and a sense of togetherness among the employees.

Owing to the tough economic times, many companies are forced to cut back which leaves such companies with more office space than they actually need. Instead of losing money on this excess space by letting it go to waste, some companies are now looking to sublet that extra space for a very reasonable price. Therefore, with regards to saving on expenditure, getting a shared office space is a great idea.

  1.       Look into the option of co-working space.

The increase in the establishment of digital-based companies has made co-working spaces a lot more prevalent. Companies that would like to rent office Bracknell space should consider getting a co-working space that is flexible and allows them to rent on a monthly or yearly basis. This solution is particularly beneficial for start-up companies that are looking to interact with other like-minded people and companies that may have a bigger marketplace presence than they do.

  1.       Minimise the work force.

Many established companies in the country have a lot more employees on the payroll than they require, which in turn means that capital is being wasted. Examining the role and need for staff members in the company can turn out to be a huge saving opportunity. To get an idea of how much office space a company needs to rent, it’s important to evaluate the need for the current workforce and minimise it through internships, sweat-equity arrangements and independent contractor agreements where possible.

  1.       Explore the possibility of renting a fully furnished office.

Some properties are now leasing offices that are already fully furnished with necessary amenities such as hook up phone lines and Internet. To save on time, money and effort, renting a fully furnished office can be a great opportunity for start-up companies. Such spaces also offer the company staff access to conference rooms, a receptionist, and kitchens as well as many other essential amenities for the day-to-day running of the business.

As you’ll have probably gathered, there is no one-size-fits-all approach when it comes to renting office space. The suitability of any office space will solely depend on the individual requirements of a company and its budget, but as you’ll have seen from the above, there are a number of different ways to save money while acquiring appropriate office space for your business.

 

Small Business Freedom

Having a family and trying to run a small business can seem like an insurmountable challenge to many, but plenty of people find that doing both is surprisingly achievable. However, the key to making things work effectively is to have a plan of strategy and being able to decide on where to run your venture.

While working from home has long been seen as the ideal way of being able to juggle a hectic family life with business activities, there is now another option that is also proving to be very appealing, especially to people who are looking to expand their venture.

What to look for?

Keeping overheads to a minimum is top of the list for many people who are starting out in the world of business, and having small children also means that you have to factor in childcare costs if you’re trying to spend at east part of the day concentrating solely on your business.

Thanks to the internet and these recessionary times, however, there is now a quick and easy way of finding desk/office space in shared and serviced offices, at hugely competitive prices. These days, you can hunt out rental space in much the same way as you’d look for a broadband or mobile phone deal, and compare what’s on offer in one place.

Keep an eye out

So, use the web to carry out an office space search using one of the new comparison websites and this will soon reveal that your office or desk space possibilities are actually a very realistic proposition. The great benefit with renting even just one desk in a shared office is that you can have a base for your business that is away from the topsy-turvy home life than many parents have to try and work around.

Better still, you’ll find that desk space rental schemes are well priced and the contracts are very flexible too, meaning that you’ll probably be able to get some desk space on a rolling-basis in terms of contracts and move in and out at fairly shot notice. Going for this sort of arrangement in an already running office area will also mean you get basic utilities along with an essential such as broadband internet.

Move on up

For those with small families but who have designs on building a business further then it’s also worth using the comparison option to find shared office space. This is a step up from desk space rental in the fact that you’ll get the chance to have a greater area to rent. Added to that, the shared office will often come complete with receptionists, post and IT support.

However, this sort of arrangement still comes with the benefit that you can enjoy a flexible contract and again, it can be relatively short–term, especially when compared alongside the hassle of buying a property. Most of the office space rental schemes operate either in city centre locations and/or prime business parks too.

One of the best things about going down this route is that you instantly give your business venture an added seal of credibility. You may even find that these state of the art buildings may well come with childcare facilities in the vicinity too.

After all, with this kind of business arrangement proving increasingly popular, it’s clear that many parents need the added flexibility of having decent facilities close at hand.

About the author: Rob Clymo writes on behalf of Office Genie, the UK’s first proper online marketplace for desk space and shared office space.

Business Mums: This Could Solve Your Biggest Problems

home officeThe number one  problem for business mums has to be childcare. If you're running a business around a family, most childcare isn't  flexible enough to fit your working life.

Working from home isn't  as great as it might seem, either (unless your home office is like the one on the right…). You can miss connecting with other adults, you're stuck sitting in the trail of mess left by your children and you really wouldn't want to invite clients in to sit in it too!

photo: Jeremy Levine Design

If you live in South London help is at hand from May – and I hope it will extend to the rest of the country soon.  Let me introduce guest blogger Melissa Talago to tell you about Third Door and the  launch competition you can enter now:

Ever since I set up my own PR business almost 4 years ago, I have battled with one thing: Childcare. It has been a nightmare. When the kids were both still under 3, they went to nursery. But the nursery only had Mondays and Fridays available, the worst two days for me to get anything done in my industry. Plus if the kids were sick, they couldn't go and I was left once again not able to work. There were times when I had way too much work and needed extra childcare and other times when I didn't have enough work to justify having them in childcare, but couldn't risk losing my nursery place.

And did I mention the cost!! My pay used to go directly into my bank account and straight out again to the nursery. I should have just gotten my clients to pay the nursery direct and cut out the middle man!

I know I'm not alone in having these issues. Childcare for working parents – particularly those trying to freelance or set up their own business – is a nightmare. But now someone has at last had a brainwave. It is just such a good idea, that I absolutely had to work with them.

Take a look at Third Door – particularly if you're a parent living in SW London.

Shazia, a mum to a 2 year old and 4 month old (so imagine how much sleep she's getting!), decided that there had to be a better way of allowing parents to work remotely with flexible child care that suited them.

So she and her husband created Third Door, where you get flexible work space (a hot desk or meeting room) with on-site childcare (in an OFSTED registered creche) all done on a pay-as-you-go basis.

No more having to stick to certain days assigned to you by a nursery. No more having to pay for childcare that you can't use when your child is sick. No more mad rush to pick your child up from nursery after work – because they're just downstairs. No more wondering how your child is doing, because you can pop in and see them, perhaps have lunch with them. No more working on your own in your spare bedroom without any other adult company as you can network with like-minded parents in your area. No overheads of having your own office.

The benefits just go on and on. Like I said, a brilliant idea.

The company is launching in May in Wandsworth, just up the road from Cupcake Spa for those of you who know it. And to help celebrate its opening, Third Door is running a competition that I genuinely think will change somebody's life.

The prize includes:

  • 30 hours of free workspace and childcare
  • Third Door membership
  • a Business in a Box package that includes logo design, company name registration, business cards, letterhead and website creation
  • 3 hours of consultancy from experts in finance, legal, marketing, PR, technology, social media and business coaching
  • a laptop
  • a smartphone

Basically all the tools you need to start up your own business or enable you to work part-time, freelance or possibly build up a blog. Sometimes in fact, all you need to be able to change your life is some child-free time to think, a blank screen to tap ideas onto, a strong coffee and someone to talk to. If you win this prize, you can do exactly that!

So if you want to enter, go here. And please help spread the word about this to anyone who you think would benefit from it.

Melissa Talago is the owner of Peekaboo Communications

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