Whether you’re starting a new business or simply expanding your horizons, it is important to choose a workspace that will help your business grow and reach its maximum potential. While looking for an office space for rent is still viable for many businesses, shared workspaces have provided businesses with a more flexible and cost-effective option.
In the recent years, more and more companies are opting for solutions like serviced offices and coworking spaces. The phenomenon of collaborative workspaces is a fast-rising trend that has now become an attractive alternative to conventional office space leasing. With fully-furnished yet affordable workspaces situated in prime business locations, shared offices allow growing organizations to allocate their costs on core business functions.
Unlike the traditional office setup, shared workspaces allow working professionals to be productive in a casual and flexible work environment at their own pace and style. This kind of work areas not only provide businesses with affordable and efficient business operations, it also promotes a sense of community and a dynamic atmosphere.
With the emergence of various options nowadays, it has become easier to find the ideal workspace for your business. Two of the most effective options today are coworking spaces and serviced offices. But which approach is best for your organization?
WHAT IS A SERVICED OFFICE?
A serviced office is a workspace that is fully furnished and equipped with all the facilities necessary to operate business functions. To make the set up as seamless as possible, serviced offices typically comprise of desks, chairs, computers, and other vital amenities like a reliable internet connection, telephone access, and mailing services. This allows entrepreneurs to “plug and play” and transition into the new office space easily.
Here are some key advantages of leasing a serviced office:
It provides a fully furnished workspace that is ready for occupancy.
Serviced offices are ready made workstations equipped with modern technology and amenities. A typical serviced office provides reliable internet, good office infrastructure, and state of the art facilities.
It is extremely cost-effective.
Serviced offices reduce expenses due to the all-inclusive cost of lease. You won’t have to shell out a budget for office equipment and furnishing, as well as other necessary office services. Instead, you can allot the money to the expanding needs of your business.
It offers flexible working setup for your business.
Serviced offices operate 24/7 which allows your business to run operations on your own terms and preferences. It also improves focus and workflow as you will have your own space where your team can discuss important matters without being disrupted or overheard.
WHAT IS A COWORKING SPACE?
Coworking spaces provide working professionals with a sharing office space along with other vital office equipment such as desks, printers and copy machines, as well as internet connection and phone access. This type of setup encourages a collaborative environment and promotes an innovative work culture. Coworking spaces provide greater opportunities to build connections and exchange ideas within a community of passion-driven individuals.
Here are some key advantages of getting a coworking space:
It promotes collaboration and community building.
Coworking spaces are highly social and collaborative. It promotes a friendly and dynamic work environment that also enables individuals from similar or different fields of work to enhance networking connections.
It inspires and increases productivity through more direct communication.
Because coworkers work alongside each other, team members can discuss and share ideas faster and more effectively. This kind of setup promotes better workflow and business processes.
It is affordable, and it offers lease flexibility.
For startup entrepreneurs and freelancers, it is always important to consider the cost of resources. Coworking spaces are more affordable than renting an office space traditionally and they also offer lease flexibility since businesses are not bound by long-term contracts.
The Difference Between Serviced Offices and Coworking Spaces
Both serviced offices and coworking spaces offer organizations with the chance to operate business functions without the extra load that traditional leasehold brings. Both options provide startup companies with a lot of advantages when it comes to reducing costs and scalability. While there are a lot of common denominators in terms of benefits, there are also some significant differences between the two.
Coworking spaces typically offer flexible arrangements of desks predominantly utilized by startup businesses, sometimes even individual freelancers. Whereas, a serviced office is more ideal for businesses who have growing needs since this option provides them with the infrastructure needed in order to run day to day operations in a more private and management-centric setting. While serviced offices enable occupants to focus on their work without any disruptions, the best thing about coworking spaces is the environment that promotes collaboration and innovation.
Which Office Space is Right For You?
There are many factors to consider when finding a home for your businesses. It is important to keep in mind that your decision should depend on your company’s growth and development plan. Choose the workspace that will cater to your business requirements and help you operate efficiently. At the end of the day, it all boils down to your business’ own unique needs and circumstances.
By now, you have a clear idea of the differences between serviced offices and coworking. If you’re still not sure which is the right choice for you and your business, consider the following questions:
- How much space will you be needing?
- How often do you need office space?
- How long do you need the space for?
- What kind of amenities do you need?
- What’s in your budget right now?
Before making any decisions of what would work best for your business, spend the time considering what you and your team need and researching the options available to you. We know that the process can be tedious and frustrating at times and we can always help provide expert advice on the office spaces the fit your business requirements. If you would like to find out which services are available you can reach out to us at email@example.com