Working in the City: 4 Affordable Office Space Suggestions for Small Businesses

Whether you’re a budding entrepreneur starting a new business or a hobbyist looking to develop your once side hustle into a start-up business, establishing a small business is an exciting vocational venture. In the beginning, it may be exciting, but as your plans develop and the expected costs start to build up, starting up your small business can begin to look more expensive than you initially thought. From marketing, inventory, equipment, and website costs, as a small business owner, you have a lot of financial choices to make to ensure that your start-up is as successful as possible.

You’ll also have to make plans for office space according to the number of staff members and the area the business will require. Circumstances permitting, various physical and virtual office spaces are available for small businesses based in the city, posing attractive benefits for business owners. Working and living in the city can be stressful enough without the added pressure of running a business, which is why we’ve created this article outlining several affordable suggestions for small businesses looking for office space to aid business owners in their search.

Work From Home

 Provided that you have the space, working from home is an attractive incentive for small start-up businesses. Especially if you happen to discover during the start-up process that you cannot spare the funds for a physical office, working from home is an excellent alternative to an external office. Admittedly, working from home does have its pros and cons, and you may find that you might be paying more in utility bills, but ultimately when you make the comparisons, it’s always a more cost-effective option. Plus, it’s not as though you’ll have to work from home throughout your entire career. Instead, you could take advantage of home-working while your business gets afloat and work towards purchasing or renting an external office.

Virtual Office Space

 Blurring the line between futuristic and technology, virtual office space is quickly evolving as one of the most popular forms of office space for small start-up businesses. Much like the name suggests, virtual offices provide business owners with a range of office-related services without being tied into the long-term lease of a traditional office or the need for administrative staff. As well as boasting services such as mail forwarding and access to meeting rooms, virtual office space cuts back on various business costs. This includes transportation, work attire, and maintenance costs, making them desirable for start-ups as it allows for the money that might have been spent on these aspects to be filtered back into the business.

Virtual address companies such as PhysicalAddress.com offer various office-related services and locations for business owners to choose from, allowing businesses to opt for relevant sites based on industry or prestige. For example, if your small business caters to the hospitality, gaming, leisure, or tourism sectors, you might opt for a virtual office based in Nevada, Las Vegas. You can imagine the benefits this could bring your business and is certainly worth looking into.

Rent Out Desks

 If you’re in a position where you can purchase an office, you could opt to buy a slightly too big premise for your business needs, giving you the ability to rent out desks. Rental desks are another popular form of office space for start-ups or freelancers because, much like virtual office space, they cut down on business costs, and depending on the location you opt for, they can be reasonably cost-effective. Regardless of their size, most businesses often have unused spare desks, which companies can rent out by monthly or daily quota using various listing platforms. Alternatively, if your business is tiny, you could speak to fellow business owners and see whether they have any available space for rental desks at their firm.

Shared Office Space

 Another affordable office space suggestion for small businesses is to find shared office space, in which you’ll find multiple companies, desks for rent, and shared facilities. Not to mention, since shared offices spaces are a more permanent option, you’ll be able to store any equipment, documents, or electronics behind. Although we’re sure that it wouldn’t be challenging to find shared office space by industry, the beauty of sharing office space is that it enables you to associate with a diverse range of industries and people.

Giving you access to a range of networking possibilities and allowing you to share stories, expertise, and ideas with individuals you may not have usually associated with, something that you may not encounter with any of our previously mentioned options. Although shared office space does have many pros and cons, much like home working. Undoubtedly, it’s one of the most affordable options for small start-up businesses, and it can be used as a stepping-stone until you can afford your own external office.

Already well designed and fully furnished, shared offices save you time and money while guaranteeing a collaborative work environment. With the benefits in terms of affordability, convenience, and productivity, these flexible offices continue to grow in popularity and spread around the world. The US leads the list of the countries, where one can find a number of offices adjusted to each business field. For instance, if you are a tech startup, you should consider workplace rental in cities with fostered IT culture like private office space in San Francisco, as the city is home to Silicon Valley companies.

 

 

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