Your guide to choosing the right type of office space for your business

Manchester office

Finding the right office space is one of the most important issues any business owner will need to consider at every stage of growth.

From emerging start-ups to established industries, the right environment can help employees find focus, productivity, and creativity, and help a business plan its growth.

In this article, we’ll go through the options availableand help you work out the right office space for your stage of business.

Co-working office spaces

You might usually associate co-working spaces with budding entrepreneurs, enterprising freelancers, and start-ups, and to a large extent, you’d be right. Co-working offices provide flexibility and versatilityand are ideal for businesses that are still establishing themselves but do not yet want to know what kind of resources they may need in the future.

You’ll often find break out meeting rooms, private call spaces and work desks available for hire by the hour, day or on a monthly basis, making them a useful way of keeping costs down. As your business grows, however, you might begin to need a more fixed working environment.

Serviced offices 

If you’re ready to establish your business in a more secure and exclusive environment, serviced offices provide a flexible and good value approach to setting up.

By their nature, serviced offices come furnished and equipped with essential services such as phone and internet facilities, and you may also enjoy additional amenities, such as a receptionist. They’ll often have a stylish location and layout, so you don’t need to worry about the complexities of office design.

While they can be a little more costly, they’re great if you need something immediate. Additionally, serviced offices will often offer flexible short-term leases that you can get started with right away.

Leasehold offices

When your business needs to lay down roots for the long-term, renting an office space can be a flexible and good value option.

You’ll find a variety of choicesregarding different sizes and locations, and if you’re looking for midsized office space in London, The Workplace Company is a great place to start. While you can expect to pay a deposit, a leasehold office won’t require as hefty an investment as purchasing a space outright.

A leasehold space will often come as an empty shell, or minimally furnished, giving you the options to set up your workspace in the best way that suits your business.

Purchased offices 

Buying an office is a serious commitment. If you’re ready to take that step for your business, then it can give you the freedom to grow and develop your working environment however you want.

A purchased property inevitably comes with more responsibility, but also gives you the opportunity to make the space your own.

You’ll need to think about the same factors as you would with any other kind of property purchase, including affordable mortgage repayments and the length of the term. But once purchased, a business property can be a fantastic long-term investment and valuable asset.