Is Shared Office Space Right For You?

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Shared Office Space Dominates 2018 & Continues To Thrive.

The demand for Shared Office Space and Co-Working environments has risen drastically in 2019 and it doesn’t stop there. Property experts speculate a whopping 30% increase in Serviced Office Spaces by 2023 meaning the face of business is changing.

Companies of all shapes, sizes and sectors have been taking the plunge, moving their operations to Shared Office environments, however, there are some real gains to be made for SME’s. Not only do co-working environments reduce running costs they also offer exciting networking opportunities and a host of other benefits such as Meeting rooms, Bars and Coffee Houses.

Sean McCue, an upcoming developer of shared space in Grimsby, North East Lincolnshire, explains more.

“With our bespoke office hub, we are able to provide a professional service tailored exactly to what our clients require or budget allows.   Our Hot Desks & Private Offices allow new startups through to large multinationals to drastically reduce their direct office and services costs while merging with the local market.“ (McCue, S. 2019.)

The History Of Co-Working.

The idea of office sharing is actually older than you might think, initially spawned from a Berlin-based Hackerspace in 1995. The concept of co-working soon took off being commonplace by 2008 and adopting freelancers and temporary workers from around the globe, it is only in recent years that we have seen an influx of Small and Medium Businesses, even tech giants like Microsoft, Verizon and IBM have embraced the idea of shared office space. So what’s changed?

The answer is actually a very simple one. Cost. Many business owners both new and established find it challenging to pay the rates on expensive premises especially with the flood of competition emerging from the Internet. This is noted by the decline of the “High Street” and the loss of more than 85,000 jobs in the UK alone last year

(Source: telegraph.co.uk 2018).

Is Co-Working Right For My Business?

What started as a solution for Freelancers and Desk Nomads has evolved to suit businesses of all sizes but is Shared Office Space the right decision for your business? Let’s dig into some of the benefits of co-working.

Perks & Benefits

Reduce Expenditure & Overheads.

The main benefit of a co-working scenario is the reduction in costs for both rental and purchase of business premises. Shared office spaces also eliminate hidden running costs within your business. Many shared office spaces offer both cleaning and office furniture in with the price meaning you will only pay for the space you need and nothing more, these savings can then be used to further grow your business.

Improve Business Networking.

The collaborative nature of Shared Office Space lends itself to a wealth of great networking opportunities and the possibilities are endless, limited only by the businesses sharing your space.

Dazzle Clients With Shared Meeting Rooms & More.

Aimed at smaller business owners who may not be at a stage where they can pay for a glamorous bespoke office block. Most shared office spaces are equipped with multiple meeting rooms and glamorous dining areas where you can meet and greet prospective clients.

Quick Business Setup.

Because most shared spaces are often fully furnished you can usually move in and begin working the day you sign the lease. This is ideal for companies that need to make it to market quickly.

Scale Your Business Accordingly.

It’s a rarity in the business world to find premises that is the right fit for you and your business. Often they are too small and cramped or alternatively too large and expensive to be a viable long term option, however, with Shared Office Space this need not be a problem. Many co-working spaces allow you to start with a single desk or “hot desk” and grow from there allowing you to scale your business in your own time.

Integration With Local Markets.

One of the main benefits of Shared Office Space is flexibility, co-working environments and shared spaces are available all over the world allowing you to quickly and easily move your business to your client base at a fraction of the cost of renting multiple business premises.

Final Thoughts

If you are a new or established business owner looking to lower your running costs while still maintaining a professional appearance, then a transition to shared office space might just be the solution your business needs. Co-working environments allow you to scale your business idea quickly and operate with minimal overheads. It is my opinion that this upward trend in Serviced Office adoption will only continue to grow throughout 2019.

For more information about the upcoming office hub at McCue House, Grimsby. Why not register your interest?