Every decision is a big one when you’re launching a small business, especially when it comes to where and how you work. One of the most common challenges that new businesses face is deciding on an office setup. Aesthetically, big flash offices might look nice but not running before you can walk is a key business choice. Opting a for flexible workspace could be one of the best early decisions a business can make.
Cost-Efficiency Is Key
For startups and small businesses, managing your cash flow is crucial. Office space can come with big overheads and unexpected costs. Committing to an office early on locks you into a contract that might not be working out for you long-term and taking money away from other areas, or aspects that will help you grow faster.
Flexible office spaces, co-working hubs, or smaller leased e-spaces often operate on short-term contracts, which can be really useful when everything is up in the air at the start of your business life. These options mean you don’t have to stretch yourself when everything else is stretched!
Growth Can Be Unpredictable
With various plates spinning at once, it’s not always clear how fast a business will grow—or even which direction they might pivot into. An office space that might have originally made sense may not as your business life develops.
Choosing a flexible option allows to choose when and how your work place grows. You can start virtually, or with a single desk, then move into somewhere bigger if your team needs office space etc. When you do this, you’re only ever paying for what you use.
Remote and Hybrid Working Is Here to Stay
Many small businesses have used hybrid or remote models ever since the covid-19 pandemic. Giving team members the option to work remotely means that if you invested in office space, it can be unfilled a lot of the time, so it’s wise to have an arrangement that suits this flexibility.
Admin is Reduced
When you have an office space, it means that everything else has to be taken care of too, such as cleaning, health and safety and all the other logistical requirements to fit out an office.
Most flexible office providers handle these day-to-day operations of an office, which means it can free up your time and headspace to work on all the other elements of your business that drive growth.
Networking
Co-working spaces and serviced offices bring together other businesses and entrepreneurs in one place. You might be working around businesses that you wouldn’t have anticipated but can lead to new opportunities and inspiration. They can be a goldmine for networking, idea-sharing, and even collaboration. Or just a friendly face to have a chat with about everything else.
Whether it’s a shared desk in a co-working hub, a serviced office, or a hybrid setup that balances remote and in-person work, flexible spaces can help businesses to grow without the burden of physical office costs.
For more info and advice, get in touch with our team at Hyde Park House today to discuss a package that could work for your business.