There is a huge number of decisions to be made when starting your new business. From deciding on the layout of the organisation’s hierarchy to perfecting your branding to figuring out the kinds of insurance you’ll be investing in, every step feels equally vital and challenging. However, due to the sheer number of choices you and your team will be making, it’s likely that a few matters may be deemed less important and may not be afforded the attention they need. This is regularly the case for the issue of office space. Many new companies end up opting for the cheapest traditional-style fixed-lease location simply in order to have a base as soon as possible, but making a swift decision of this kind without giving it much thought can have detrimental knock on effects. How long have you signed the lease for? Will the company change or grow in that space of time? Will the office be big enough to allow for that? Is it really in the best spot for your organisation’s needs? How flexible is it? The best way to avoid struggling with these questions further down the line is to take a look at the handy checklist below when you first start looking into locations. Read on to discover how to determine which is the ideal space for your company.
Many people mistakenly believe that if a particular part of your company’s potential hometown is already home to numerous businesses that are similar to yours, that area should be avoided due to market saturation. However, this is usually far from the case. To ensure that you forge strong connections within the community that is relevant to your particular trade, being around other companies that have similar practices can prove extremely useful. Sharing expertise and taking the opportunity to collaborate can mean the difference between success and failure for a new company, so the support you receive from your professional community will be priceless. Equally, if there is a location where most of the workers within your sector are situated, it’s likely that companies providing services to those workers and their businesses will also have bases nearby, meaning help will be right on your doorstep if you need it. You’ll also need to think about how employees will access your premises. You don’t want to cause problems for those who have already come on board with you by opting for a location with no parking or poor transport links, and you’ve also got to think about potential new employees and the diverse ways in which they will be getting to work. The key is to choose a location that has as many straightforward access options as possible.
It may seem more affordable to go for an office that is just big enough to fit your current team, but you need to take into consideration the potential for business growth. If there is any possibility of your company grow beyond the limits of your current space, it may be best to look into what options you have in terms of flexibility. It’s important to discuss the potential for expansion or downsizing with the management of the building you are looking into renting within.
With this in mind, it’s also always strongly advised to go through the fine print of any tenancy agreement with your potential landlord before you make an agreement. From the length of your contract to any usage restrictions to the flexibility of your lease. The general rule of thumb is that the more flexible and adaptable your lease is, the more you will benefit from it as a new, growing company while future matters are still fairly uncertain.
One of the best ways to ensure you have the freedom, accessibility, and support that you need as you start your company’s life is to opt for flexible offices or coworking spaces. These locations are often found right in the heart of the business-focused neighbourhood of your chosen city and have been specially chosen due to their great transport links. There are numerous options available within flexible offices, whether you wish to operate from your own designated space or share a coworking floor with other companies. The latter can often prove hugely beneficial, as you’ll still benefit from the amenities a regular office would offer while avoiding the isolation that comes with being self-contained. You’ll be able to network with a diverse variety of other companies, opening the door for endless collaborative opportunities, and there is even the option to control how much you pay depending on the number of workers you have in the space at any one time, meaning you won’t need to pay for freelancers or those who work externally or on a part-time basis when they’re not there.