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Shared or Private Offices: What’s Right for my Start-up?

PUBLISHED 02/07/2018

The tech and creative start-up industry have a range of dynamic options when it comes to choosing a base of work, from simple remote working to the more client-facing side of private and shared offices.

Flexible office space options offer compelling and exciting work environments and are valuable to start-ups for a number of reasons including better growth potential.

For many project-based businesses, there are times where you require more team members but only for the duration of the assignment. A home office or remote working simply isn’t viable in those situations and so it can be beneficial to relocate temporarily to a more centrally located office, without taking on a big financial commitment.

For other new businesses, the option of shared or private offices within creative spaces is needed to help save money when an initial office investment was perhaps too big a leap and downsizing is required to ensure its continued success.

So, if you are ready to discover how  a shared workspace or private office is right for your business, then take a read of our guide below as we investigate the benefits of both forms of office space.

People working in a creative workplace

Shared Office Spaces

Is a shared office space right for you? Take a look at these three reasons why it might be and if they sound like what you’re looking for the answer is, yes.

GROWTH OPPORTUNITIES

– The main goal of any start-up is to grow, and shared office spaces nurture that goal perfectly, firstly by not demanding a significant upfront deposit and long contract for your work space, which could end up costing you a small fortune, in a period where you need to keep a tight lease on your outgoings. Here shared spaces not only save you money on the actual office costs, but usually include monthly utility bills, and insurance which can help keep your monthly costs down. When it comes to growth, when all is going well, and your team is growing, shared office spaces easily facilitate the need for extra desks and more space, without having to completely uproot and find a new space that can accommodate your growing team.

NETWORK

– Another fantastic benefit of shared office spaces for start-ups and young businesses is the ability to work alongside like-minded individuals working across different industry sectors allowing you to network by simply being in your office. This can provide a community spirit as your fellow business are in similar positions to you wanting to grow and succeed, enabling you to bounce around ideas, learn about other industries and support each other in those goals to succeed, often making long term partnerships that are sure to help your business succeed at numerous points throughout its existence.

CREATIVE AND STYLISH WORKSPACE

– Here’s a benefit that though it may not at the very top of your start-up business priority list, it’s a definite draw for the use of shared office spaces. Many tech and creative start-ups look at the creative and stylish spaces of those Silicone Valley giants, like Google and Apple, who enjoy the ability to create fun and dynamic workplaces for their staff, and though investing in such a private space is out of the question for any start-up, shared offices can provide such an environment on a much smaller budget, homed in stylish looking office buildings, with detailed and creative internal décor, as well as appliances and features such as coffee machines and high speed broadband.

Private Office Spaces

A shared office space not sounding private enough for your business or you’d prefer a little more gravitas to work workplace? Then a private office might be a better fit for you.

PRIVACY & CONTROL

– Two of the big advantages of a private office space is you have more control and privacy. Private office spaces give you the control to structure the layout of your office the way you want to, giving you the chance to ensure its colour scheme and signage mirror your branding. And they also ensure your business’ privacy is kept, so if you deal with sensitive information or work on projects involving nondisclosure agreements then a private office space gives you the freedom to talk securely with your team and clients.

Many people working in a busy shared office space

WORK FOCUS

– Though the networking that a shared office environment can facilitate is great, it can detract away from your work focus, and when you’re working on a significant contract, you don’t want to be distracted by the latest goings on from TV or the success your neighbour business has achieved. Here a private office space can help you and your team remained focused on the work at hand, enabling you to keep on growing and succeeding.

GRAVITAS

–  A private office gives both your clients and your team a feeling that you’re serious about the business and that you’re in it for the long run. Providing a sense of gravitas for clients when they visit for a meeting and enabling your team to have a workplace to really call home each day, which a shared office space can’t always provide.

Young man working on laptop in private office space

So, there you have it, three reasons each, of why a private or shared office space might be right for your start-up business, if you’d like to know more about the shared, private or other office space memberships we provide here at Signature Works then give our expert team a call today or book a tour of our creative office spaces.

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