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Serviced office space can be a great option for a company looking for new premises. Short-lease terms mean if the location isn’t right for you then you can move sooner than long-term office lets, which are usually for twelve months.

Financial Benefits

Bills, cleaning, internet and business rates are included in your monthly payment, making budgeting easier. There are no unexpected costs.

Ultimately, the cost factor will always be a significant pull factor- a fully serviced office will offer an easy and cost-effective way to project a professional image. Disruption time is limited; business owners can easily set up their business overnight, avoiding the hassle of equipping and furnishing an office.

A serviced office is a low-risk arrangement with no major costs up front; an attractive option for businesses big and small but particularly important for businesses who don’t have a lot of cash behind them.

Laura Carr, owner of a PR company, said:

“I knew we needed office space when I realised we had the demand for more staff to help us handle all the contracts we had won but didn’t have a lot of money in the bank that I was prepared use to fork out on a big upfront bill for it!

“For us, using a serviced office was almost the only option. It was an easy and affordable way to move into a clean, bright, ready-to-go (in our experience!) office where we just had to plug our laptops in and go.”

Networking

A positive aspect of working in a serviced office for all businesses is the networking potential – you can meet new and potential clients in your office neighbours, this can extend beyond just those in your building also.

In the same breath having friendly and potentially lucrative neighbours may be a hassle if you all want to use the shared meeting rooms at the same time.

It gives a professional and polished finish to any company, big or small, to have an address in a prime location. You may get more business simply by changing your business cards to reflect your new premises.

Productivity

There has been a correlation seen by small business owners which suggests that flexible workspace translates directly into productivity gains. The inconvenience and isolation of having to work from home is eliminated, and renting a serviced office frees firms from time-consuming administrative tasks. No longer is time spent on tasks such as sorting through mail and manning the phones, meaning resources are better spent, and workers can get on with the jobs they really need to do.

As with any convenient arrangement, the costs will be more so than if you opted for a ‘DIY office’ somewhere that required you to answer the phone, take the bins out, organise bills but if you value your time you may think that the extra cost is worth it.

Concerns

It might be a concern to some businesses that you cannot brand the building you are in to reflect your presence there; certainly when British Sky Broadcasting took up residency in Wellbar Central, on Newcastle’s Gallowgate, they wanted to be known as an employer in the city and it was a drawback that they could not display their branding to increase awareness.

Introduction of flexible working

From June 30th, all employees who have been with a company for over 26 weeks will have the right to request flexible working, both in terms of hours and location, meaning that a shift in workplace practices and attitudes are imminent. With employees having more of a say in where and when they are working, the demand to provide equally flexible workspace will need to follow suit.

It is important that employers provide well equipped and comfortable surroundings. The benefit of a fully serviced office is that workers can come and go to their office when they need to, and have everything they need at their fingertips. Should employees wish to combine working from home with a number of days in the office, facilities such as conference calling enables a high level of communication to remain within their teams.

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