Starting up a business can be quite an exhilarating task, especially since it involves taking several crucial decisions. One of the initial things to decide is what type of office is most suitable to carry out the required operations and delivers most value-for-money. As this is one of the major investments, it is vital to make the right choice. Read on to find out about some office types that are famous amongst start-ups.
One of the obvious options that any start-up would consider when starting out is running the business from home. This is the simplest and most cost-effective alternative for a new business, considering the financial restrictions. Its practical approach allows you to register the physical office in your home address and to launch operations. Most start-ups do this while they obtain funds from banks and other financial institutions.
If you want the business to be registered to an address in the central business district or a prime location yet minimise the costs and the hassle of working in a hectic area, this would be an ideal option. Some of the key features of this type of workspace is that when a client calls the office number, the message will be picked up and transferred to you or the relevant department by the full-time receptionist. The same procedure applies to postal mail. When an important business meeting needs to be arranged, the Executive meeting room or Boardroom can be made use of.
Rented or Leased Office Spaces
This is another famous choice of office type. Generally, these include corporate serviced offices that are managed by other companies, but it could also be self-maintained rented property. The biggest drawback of this type of office space when compared to other alternatives is that it is quite expensive. The cost usually depends on the floor area and location. However, it offers a viable option to those start-ups that have successfully obtained funding from financial institutions. Rented or leased office spaces tend to be larger in size and this is quite useful to those start-ups that require additional space to manufacture their goods and services.
This is becoming an increasingly popular choice of workspace for start-ups. It involved sharing a common work areas with your own co-workers as well as other start-ups and business owners that come from various companies. This flexibility and the ability to network and meet new people appeals to new entrepreneurs. It makes you feel relaxed and enhances productivity as though you are working from a coffee-shop or a café.