For those who are just starting a business that is too big for a home office but not large enough for a full-size office space, shared office space may be the right answer.
Shared office space is an office building that is rented by several different businesses at the same time. You can rent a desk for your laptop or a small office suitable for one or more people. See an example of various options at the SOMAcentral website.
There are definite advantages to sharing office space for those on a tight budget.
Low Rent
The cost of renting a standard-size office can be considerable, and the space can be time-consuming to set up. Not only are you renting the space, but you almost always must provide the furnishings, which can be expensive.
Shared office space includes everything you need all for a monthly fee that is a fraction of the price of a standard-size office space. You will have furniture, Wi-Fi, phone access, and printing services. For those starting out, this is a great way to get what you need at a price that fits your budget.
Short, Flexible Leases
Given the dynamic nature of today’s business world, your company could grow quickly by leaps and bounds. Being tied down to a long-term lease means you are restricted in terms of expansion when you need it the most.
Shared office spaces have short, flexible leases, so you can choose the right time frame that works for your business. A month-to-month lease means you can leave when you need to or expand to a larger office space. That type of flexibility makes it easy for your business to grow.
IT Infrastructure
Modern businesses depend on modern, reliable technology. For companies just starting out, the expense of establishing an IT infrastructure can be considerable. This is especially true if you have just a few employees and are not yet generating enough profit to cover costs.
Shared office space provides you with the basic IT infrastructure needed to get your business off the ground. Even if it’s only you or you have a few employees, the cost of the infrastructure is included in your monthly rent. Plus, the owners of the shared office space will fix or repair any issues that might arise, saving you even more money.
You will need to check out the IT infrastructure of the shared office space you’re looking to rent. Make sure that it is efficient and reliable so that you don’t have to worry if something goes wrong.
Protection
In this day and age, security is a top concern. Renting out a standard office space means installing security measures, such as sophisticated entrance technology. You want only your trusted employees to enter the office, and that requires keycard access along with round-the-clock security.
Shared office space has all this, which means you can trust them to be there when you are there. Plus, many will offer lockers or storage areas to keep your items if you decide to leave them there after working hours. You have security during the times when the building is open, and you can either leave your items in a secure area or take them with you when the day is done.
Networking
At first, you might find it a little awkward to be working alongside people running companies that may have little (if anything) to do with your industry, let alone your business. However, there are also advantages to having several other companies sharing the same space. For one thing, shared offices tend to be highly compatible because the businesses are not in competition with one another. Plus, you may find that some of the people working alongside you have services or skills that your business can use, or they may know potential customers, clients, or suppliers. This means more opportunities for your business to grow.
Wrapping Up
The many benefits of shared office spaces mean you have the perfect platform to get your company started. Whether it’s a one-person operation or you have a few employees, shared office space is low cost, IT efficient, secure, and provides networking opportunities that you otherwise might miss when renting a standard office space. Add to that the pleasant working environment, and you have the perfect solution for small businesses looking to get ahead.
