The Financial Advantages of Short-Term Workspaces

May 6, 2016 10:00:00 AM / by Nicole Adarme

Nowadays, with the rise of sharing economies, business owners, entrepreneurs, and startups face a wealth of options for leasing workspaces. There are a number of factors to consider when choosing a suitable workspace for you and your team, including company size, resources, and operation costs. So before signing off on that long-term office lease, it’s best to weigh the advantages and disadvantages of opting for short-term, shared, or temporary workspaces.

 

 

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vOffice, Kuala Lumpur, Malaysia

 

IS IT THE RIGHT FIT?

One of the first things to consider is the size of both your company and your prospective space. For independent freelancers and small teams, a conventional office simply isn’t necessary, though you might still need a physical place to work from, to hold meetings and to perform daily operations. What kind of workspace would be the most favourable? Which offers the most convenient location? Many shared spaces offer the same stability and security afforded by conventional office spaces, with the promise of modern comfort along with a broad range of office amenities. From spacious and scenic to vibrant and energetic, offices now cater to a variety of personalities.

 

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Racket Room Collective, Quezon City, Manila, Philippines

 

PERMANENT VS COST-EFFICIENT

The flexibility provided by short-term workspaces is often a crucial element when making a decision. A main drawback for those setting up a conventional office space is the high overhead cost, which, besides the rent, includes furnishing your office, utility, and upkeep. The time and effort poured into finding, building, or renovating a place could better be directed toward more important endeavours for your company. Not to mention the struggles associated with moving in.

 

Short-term spaces minimise that burden by being ready to accept tenants immediately. Moreover, they are already fitted with the amenities and infrastructures businesses need. Whether something as simple as reliable Wi-Fi and a pot of coffee, or dedicated tech support, many shared workspaces already cover these costs for you, and offer the shared use of their resources as well.

 

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Synacy, Cebu City, Philippines

 

When choosing the best space, pay attention to the many membership plans and package deals these different spaces offer in order to find the most appropriate setup. There are hourly, weekly, and monthly rates, temporary hot desks, and even closed spaces. Do an ocular with your team and talk directly with the people who are already working at the space. Inquire about particular concerns, from available parking slots to important building policies.

 

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Servcorp, Singapore

 

WHAT ARE THE ADDED BENEFITS?

Besides cost efficiency, shared office spaces often present other valuable opportunities. We often mention the networking potential abundant in co-working spaces. Any company could gain from the input and feedback from like-minded individuals, peers, and professionals of different backgrounds and spanning various industries who share the office space. Opportunities to connect with other dynamic business ventures could lead to collaboration, innovation, and rapid development for all parties involved.

 

The numerous advantages of short-term workspaces allow businesses young and established to achieve growth and learning unique to the constantly changing modern landscape. Just like the many workspace options available to them, companies are able to stay agile and adaptable. Besides the affordability and practicality inherent to shared spaces, co-working often results in the kind of business progress that is anything but temporary.

 

Looking for a temporary or short-term workspace? See a comprehensive list of options and refine your search with flyspaces.com

 

Topics: tips, benefits, financial advantages, short-term workspace, cost savings

Nicole Adarme
Nicole Adarme

Nicole is a seasoned marketer who writes to inspire and help readers discover the rapidly developing workspace industry in Southeast Asia. She is proud to work with a company that empowers other businesses to grow and operate more effectively.

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