Serviced offices are the most popular business accommodation for startups and growing businesses—regardless of industry, finance, law, technology, or professional services. Serviced offices provide many advantages over conventional costs. Location is one of the main factors that business owners consider when deciding on suitable offices.
Serviced offices were in demand in the UK in 2018. The UK is an old market, and it is evolving rather than dying. The Covid-19 pandemic only proved the benefits of renting this type of business office.
Serviced offices are perfect for startups or small businesses just starting because they offer flexibility, cost-efficiency, and accessibility. With 50% of small businesses failing within the first 18 months, you don’t want to spend too much money on office space before you know if your business will succeed or not. Serviced offices are perfect for this because there is no long-term commitment required.
Outside of Great North Business Centre, Hatfield
What to look for when choosing serviced office spaces?
- Ideally, a good co-working space is one with fast internet, office facilities, and a professional atmosphere. You don’t want to work in a building that’s leaky or not well-maintained.
- Switching to serviced offices, the rental rate can help you grow to your potential because now you can invest funds into your business instead of commercial offices.
The article from Price Bailey states, “In the year to June 2021, Renting.com’s predictions for the office rentals remain +0.6% at way below the previous three years of +8%, leaving a rental rate of $8.40 per calendar month. We predict a +13% increase at a rental fee of $8.60 per calendar month, which is still considerably less than 2017 rents of $9.50 per calendar month. We predict that little change will occur within the market in 2019 or 2020, then upwards pressure on office rentals will begin to increase after 2021 with an anticipated annual growth rate of 12%.”
- Registered phone and address. More and more people choose home offices and serviced offices for rent instead of traditional office space. Many businesses also need a private telephone number and address when they want to work from home.
- Facilities management is a growing part of the serviced office industry. Most owners offer a range of facilities management services. From cleaning to air conditioning, insurance to 24-hour security, and beyond – so they can maximize the potential return from their commercial properties. Within this mix, 15% of serviced offices are rented on a facilities management basis only.
- When the government announced lockdown restrictions, it greatly affected most business owners, and they were forced to abandon their office spaces and manufacturing offices. Given the limitation for working in limited company personnel, switching to serviced office spaces has been a great way to help control staff productivity.
Empty business office
Great North Business Centre working together with startups.
Are you an entrepreneur greatly affected by the Covid pandemic? Was your business launch stalled by this deadly disease? Great North Business Centre, Hatfield is adhering to the provided Cleaning and Sanitation Standards.
We’ve been working with startups and entrepreneurs who have been affected by the Covid pandemic. Our flexible workspace allows you to focus on growing your business.
Enquire now to learn about how we can help ensure that your business can continue operating while protecting yourself and your employees from the Covid pandemic.