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Shared Office Space or Privately Leased Office?

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Shared Office Space is the ideal workspace for freelancers and start-up businesses. However, shared office spacers are an increasingly popular choice as work locations for established businesses to house their employees.

Have you set-up a new business but don’t know where to base your company? Focusing on Start-up businesses this article will discuss the pros and cons of choosing shared office space over a privately leased office.

 

Benefits of Shared Office Space

 

At Signature Works, we are aware that every business is individual, and your needs will be different to the next. For this reason, there is no particular business that should or shouldn’t use shared office space, however this article tells you the factors that need to be considered.

 

Flexibility

 

One of the biggest advantages of using shared office space is the flexibility it provides for its users. At Signature Works, shared office space can be rented monthly so those opting for coworking space don’t need to worry about being tied into lengthy contracts.

Particularly important for start up businesses, the space you use is flexible. Using shared office space allows your start-up company to grow overnight if necessary and be moved into a larger office space. Renting a privately leased office will force you to either get an office with wasted space, or that doesn’t allow for opportunity to grow

Shared office space also allows for the opposite outcome. If you’re business is not doing as well as you expected, you can easily reduce the amount of time you spend in your shared office space, whereas privately leased offices are likely to tie you into lengthy contracts.

If you’re unsure of the position your business will be in six months from now. the flexibility of shared office space can reduce the pressure that the responsibility of a standard lease carries.

Amenities

 

With regards to private space, it isn’t a case of turning up and getting straight to work. In most cases, furniture is needed, a kitchen for employees needs to be implemented and the phone and internet needs to be connected.

This all needs to be maintained throughout your stay whereas when using shared office space, this is all done for you. Signature works provide high speed WiFi, Full kitchens, meeting rooms and much more to its users- as well as paying the bills!

Community

 

Starting up your own business can get difficult at times and surrounding yourself and your employees with other entrepreneurs can often help you through these tough, early stages. Placing your business in an area where networking is a given can make the difference between success and failure for your business.

Potential Problems with Shared Office Space?

 

Distractions

 

Although you may be busy, others may not be and shared office spaces can often be very social places. Everyone has heavier days and more relaxed ones when it comes to work and at times it may be difficult to avoid distractions in such a vibrant, lively workspace. As co-workers are likely to feel less structured than in a more traditional office space, separating socialisation and work can often pose difficulty.

 

Branding

 

Privately leased office spaces have the benefit of being able to make changes, whereas a shared office space can’t be advertising your brand. Although this is another money saver, start-up businesses are often keen to see their company logo plastered around their new office space.

 

The benefits of Shared Office Space definitely outweigh any potential problems. If you would like to visit the Bling Bling building and find out more about Signature Works, simply call us today on 0151 558 1566.

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