With the global economy in disarray and with no end in sight, for the foreseeable future most businesses have dropped their ambitious plans in favor of the much simpler goal of surviving until better times return. In a climate in which a single poor quarter could spell the end for even an established company, every sensible business is seeking to batten down the hatches and cut costs. For most businesses, the cost of office space is one of the largest liabilities on the books. Even in the midst of a recession, rental prices continue to rise in cities like London, and many businesses have forced to relocate to cheaper, smaller premises in order to cut costs.
While nobody relishes the prospect of moving offices, relocating to a more manageable space may turn out to be the best thing your business ever did. Starting a new lease in cheaper premises may free up the capital to not only help you ride out the recession, but also position yourself to make significant gains when the worst is over.
Here is how relocation could make your business stronger.
An All-Inclusive Office Solution
Whereas traditional office leases cover only the office space itself, a serviced office offers a comprehensive solution to your needs, enabling you to focus on your business rather than the day to day challenges of managing an office.
You could typically expect a serviced office lease to offer all the basic needs of your business. Basic furniture such as desks, chairs and telephones, along with a fully staffed central reception desk to deal with clients and other visitors. A serviced office would also typically provide everything from security and cleaning services to refreshment facilities, reducing your staff overhead dramatically.
The Flexibility You Need
However, the greatest benefit of serviced office space is in the flexibility of your lease. Traditional office leases can run for as much as 10 to 15 years, with hefty penalties for early termination. These restrictive terms can place a great strain on a company, and especially if that company expands beyond the available space. If your requirements change during the term of the lease, there is often no possibility of altering your space. In essence, with a conventional office lease the decisions you make on day one will haunt you well into the future.
Serviced offices, on the other hand, offer extremely flexible leases. Should your business grow it's usually possible to take on additional space on short notice, spreading into neighboring office units to suit your needs.
Conversely, should you decide to reduce your overhead by reducing your space it's usually a simple matter to end the lease on part of your office. This flexibility means that you never find yourself crowded or paying for excess space. The lease works with you to ensure you only pay for what you require.
Furthermore, it is often possible to lease serviced office space in London on very short notice. When space is immediately available, you may be able to move in as soon as a lease is signed, and your obligation to stay may be limited to just weeks or months.
The Right Space at the Right Price
A common misconception is that serviced office space will work out more expensive than a conventional office lease. It's an easy conclusion to reach, since serviced offices offer an all-inclusive solution that seems like it should surely cost more than a conventional office.
In fact, a serviced office can offer extremely good value for money. Most importantly, you only need rent the space you need, allowing you to control your costs down to the last square foot. You can rent exactly what you need to run your business in the most efficient way possible.
Additionally, since the included 'tools and talent' of a serviced office are not only shared between every business on the premises but also reusable lease by lease, the costs are kept extremely low. The small rental cost of a suite of office furniture in a serviced office pales in comparison to the enormous outlay needed to provide your own in a conventional office, and the same goes for security and custodial staff.
In short, a serviced office space in London offers the perfect level of flexibility at the ideal price, helping you weather these difficult times and survive the recession unscathed. What could be simpler?
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