Businesses all over the world are saying goodbye to traditional office space and welcoming the flexible working arrangements of serviced offices.
The number of companies in the UK making the change has increased by 173% since 2020, as business leaders recognise the many benefits. The occupancy rate across the UK is now 86% – it’s even higher in London at 88%, according to the Savill’s Flex Report.
Traditional office spaces might not be the best choice for some businesses, as they can be expensive to maintain due to fixed costs for utilities, rent, office supplies and more. A long-term lease can make it hard to adapt to ever-changing business needs when downsizing and expanding; and the less flexible setup means you can’t add or reduce space when your team size changes, making it particularly challenging for start-ups.
What are serviced offices?
Serviced offices are workspaces that are ready for your business to move into without high costs upfront, as they come fully furnished and equipped with desks, high-speed internet and other facilities managed by a third-party provider. Rented out on flexible leases, they provide a wide range of support services alongside top-quality facilities, allowing your business to maintain a professional image.
Enquiries about renting serviced office space have increased by 12% year on year, creating further optimism about the future of the sector.
Benefits of moving into a serviced office
The key advantages for businesses are the flexibility, cost savings and improved working environment provided by serviced offices. Creating the ultimate workspace, they enable businesses to free themselves from the long-term commitment of traditional rental contracts.
Renting on a short-term basis is ideal for start-ups or small businesses testing the water in a new location. Some providers ask for a minimum of three to 12 months’ commitment, but at BE Offices, our contracts start from just one month.
What is scalable in business?
It’s not only the leases that are flexible: understanding how to save money in business is fundamental to success, as no-one wants to waste money on office space that they no longer need. Similarly, it’s not practical to pack more employees into a workspace that has obviously become too small.
Scalability in business means being able to improve efficiency by adapting as your company’s workload changes. This can be achieved by having a adaptable infrastructure, so human resources, facilities and technology can be adjusted quickly to accommodate changes, such as hiring new employees and expanding office space.
You can scale your workspace up and down, as required, by adding or removing desks to your membership plan. Businesses can adjust to changing circumstances with no hassle, rather than being tied into a long-term contract that may no longer suit their needs.
Fully equipped spaces
Moving into a serviced office means you’re stepping into a fully equipped space – you don’t need to worry about the initial financial expenses of setting up a business.
The practical responsibilities of an office manager in a traditional workspace can detract from other important tasks, such as growing the business, but efficient operations are assured – we’ll be doing all this for you, ensuring the office runs smoothly by maintaining equipment, ordering supplies and organising superfast IT using dedicated 10Gb internet pipes.
Prime locations
For businesses choosing a serviced office, London is a prime location to meet all your needs. The capital has a great transport network that includes six international airports, the rail and Tube system, Eurostar services, extensive bus routes, cycling facilities and taxis. It’s incredibly easy to travel around the City for commuting, meetings and networking. The financial capital of the UK, there’s a diverse range of customers and a wealth of talent, providing everything that your business needs to boost success.
Renting a serviced office in London is a cost-effective way for enterprises of all sizes to occupy a prime location at a fraction of the cost of a corporate office. It can improve your company’s image, adding value to your public perception and demonstrating your commitment to high professional standards. This can help make your company a more attractive investment opportunity, indicating stability and the potential for growth.
Networking
A London serviced office offers unparalleled opportunities for networking, as the capital is considered one of the best cities globally for professionals because of the large number and diversity of industries located there.
The major benefit of networking in business in London is the large number of events catering to different sectors. With a global reach as a major international hub, it offers a diversity of connections you’re unlikely to find elsewhere.
Also a significant tech centre, it provides opportunities relating to just about every professional field. London boasts more than 2,000 fintech companies. It’s also home to offices of the world’s biggest tech giants such as Adobe, Amazon, BT, Google, Intel and Cisco to name but a few.
Whether you need to learn new skills, expand your connections or simply find inspiration, the capital has endless opportunities, with networking events offering ways of meeting many like-minded people.
Enhanced productivity in serviced offices
You’ll be able to enhance productivity thanks to the latest technology and amenities, as your team can start work right away, focusing on the tasks in hand and reducing downtime.
There are fewer distractions, as businesses don’t need to worry about office management, maintenance, or cleaning, as this is all included in the rental package.
Working in a flexible and collaborative environment promotes productivity. Research by We Work shows 82% of companies based in this kind of workspace believe the strategy has positively impacted their output. Employees can enjoy an improved work-life balance that reduces stress, leading to a happier and more productive workforce.
Serviced offices are meeting the needs of today’s business community including entrepreneurs, start-ups and SMEs. Providing high quality business accommodation, if you’re considering switching to serviced offices, contact BE Offices for further information.
© Girts Ragelis / Shutterstock.com & BE Offices
