Traditional Office Spaces, Overpriced and Unbeneficial.

The costs associated with traditional office space are associated with a range of costs. The list includes:

  • Rent for office space.
  • Rent for meeting areas.
  • Rent for communal areas.
  • Bills for internet, electricity (heating/cooling), and water.
  • Cleaning.
  • Taxes.
  • Cost of printers and furniture.

Overall companies end up paying for a lot of room that gets very little use. Additionally, growing businesses get locked into long term leases that have them paying for space they don’t yet need or stuck in an office they have outgrown. Finally, traditional office space is a liability, especially to small businesses. It can affect their ability to obtain bank loans and many can require that the business owner themselves must provide a personal guarantee. This means should the business fail, the owner must pay out the lease.

The Solution to Most Problems Associated With Traditional Office Space

Luckily there are solutions to all of these worries. Flexible Office Space – Coworking – is an excellent alternative with more and more traditional offices being converted into this 21st-century alternative. Undergoing exponential growth annually over the past 10 years it is clear that flexible office spaces are here to stay, and for good reason! They are not only looking like an attractive alternative to hefty commitments asked of small businesses but it companies are opting for this option too. The main attraction being the reduced costs.

How are costs reduced in flex spaces?

When moving away from regular office space you immediately kiss goodbye to a range of associated costs, these include much of the aforementioned points. However, include extras that many flexible spaces provide. These are things such as tea and coffee and full-time concierges, small things that take the image of a small business to the next level at a very low cost.

Happiness and Health

If the immediate saving is not enough to draw you in, then you will be happy to know that the benefits extend far further. When you opt for a flexible office – coworking office -, you are essentially joining a community. Sometimes it can be good to visit these different coworking places to evaluate which has a culture and demographic that you enjoy. Once you find the right community for you, you will join the 83% of coworkers who feel happier and less lonely and the 71% that feel more creative.

Professional Networking

Additionally, in a coworking space, you and your team will be exposed to a range of driven people from a variety of industries. Imagine having access to different services and companies without leaving your building, maybe without even leaving your floor. This is an obvious benefit for many in coworking, a huge time saver and an excellent aid to efficient workflow. For freelancers, coworking can provide additional opportunities to acquire new clients. If anything the range of social interactions you experience within a coworking space can be incredibly stimulating and encourage you to think in an entirely new way.

If coworking sounds like a great option for your business (which it always is), take a look at some of the options we provide here.

Neither of These Options are Right for you?

If you enjoy the homework life, that amazing! However, every business benefits from a premium address. Luckily many coworking spaces offer virtual offices which can include a premium mailing address and sometimes even complimentary meeting room time for those important meetings.

At collective_100 we offer a virtual office package that provides you with a premium mailing address in the center of Cremorne. Find out more here.


Photo by Alexander Pemberton on Unsplash