Small businesses are rarely able to compete with larger companies on price and product range, but they may be at an advantage in other ways.
By being agile and flexible, local enterprises can respond quickest to changing market conditions, and innovate to remain at the head of the field.
The use of serviced offices is helping such companies to achieve a competitive advantage – small businesses are using on-demand workspace facilities to keep costs low and maximise flexibility.
Businesses using hired premises are able to leverage flexible workplace strategies to accelerate their growth plans, while preserving funds to reinvest in the company.
John Jordan, president of the Global Workspace Association, claimed that technology advancements have created an array of opportunities for small firms.
He said the omnipresence of the online market place and mobility over the past decade have permanently altered the way such businesses operate.
“Evolving workforce and meeting-place considerations driven by the need for agility and financial flexibility are steering more small-business owners away from long-term fixed costs for office space and operational infrastructure,” Mr Jordan stated.
Businesses can use serviced offices in major towns and cities across the UK, allowing them to reap the benefits of a high-profile address.
This can help make the right impression with potential customers and partners, helping such firms to expand at a faster rate.