Are you tired of being locked into long lease agreements with difficult landlords? Do you need to cut back on costs and renting space seems like a more viable option? Or are you simply looking at more efficient ways of running your business, aiming to maximize every opportunity afforded? Whatever your needs might be, there is a business space to rent provided by many reputable service providers. Renting office space or shared workspace has become a global trend that’s gaining in popularity as more business owners realize the advantages of this alternative.

Technology has forced companies to look at smarter, more efficient, ways of doing business. It has also enabled companies to focus on core functions instead of non-profitable activities. Renting space when and where you need it brings you the ultimate convenience at an affordable rate.

The Benefits of Renting Business Space

There are numerous benefits in business space for rent but we’ll only highlight the top benefits cited by many companies and professionals:

• It alleviates the burden of running and maintaining your own office space, which can be costly
• You only pay for the hours or period you physically use the space, leaving no room for any wastage or unnecessary expenditure
• It gives your staff the flexibility and opportunity to work in a stimulating environment with like-minded professionals
• You need no startup cost to set up a new office as space is already customized to suit any business
• You have access to a virtual receptionist that will answer calls in your business’ name to ensure you never miss hot leads again

The Drawbacks of Renting Business Space

It’s not all sunshine and roses when it comes to business space for rent, but the advantages still outweigh the drawbacks. To make calculated decisions that benefit your business, it’s important that you’re aware of the risks.

You do have to accept the following will apply:

• You don’t have the freedom to decorate the space according to your company’s preference and you can’t display your company logo or marketing material in the rented communal spaces
• Your staff might feel unsettled working in an environment that’s constantly changing as new people come and go on a daily basis
• You might need to utilize space on short notice and find there’s no availability as space usually needs to be booked in advance

Final Thoughts

Now that you know the pros and cons of business space for rent, you’re able to make a more informed decision. The decision is yours, but in today’s turbulent economic climate, the mounting evidence points towards renting space.

Contact the dedicated team at SOI today for an obligation free tour to experience for yourself what serviced offices look like.