Starting a Business: What are my Office Options?

Flexibility is one of the biggest attractions to starting your own business, but this freedom can also be daunting if you’ve spent your career to date in full-time, structured employment. To ensure your business gets off to the best possible start you’ll need the right environment and equipment around you, so what are your options?

The most important factor for any start-up to remember is not to commit to long-term agreements until you are sure that the offices will be appropriate for your business for the foreseeable future. Modern office space options provide flexible solutions with minimal up-front costs and lower risk. Here are some of the potential office options for start-up businesses today.

Home Office

Lots of start-ups choose to run their business from home, at least initially. This keeps both cost and risk to a minimum. However, there are downsides to working exclusively from home. Some people find it difficult to focus and that the lines between work and home become too blurred, while others may feel it does not give off a professional image. If you do choose to work from home, ideally you should set up a separate office which is dedicated to running the business and set yourself a schedule so you can stay on track and still enjoy your home as a place of relaxation.

Virtual Office

Start-ups and small businesses which are in the early stages may want to portray themselves as a larger and more established operation without having to invest in premises. This can be done by opening what is called a virtual office. You pay a monthly fee for a professional business address and associated services like telephone answering, mail forwarding and even meeting room or office access.

Flexible Co-working or Shared Office Space

If you need part-time access to an office and/or professional meeting rooms, you may want to sign up to a coworking space London or shared office space. You usually pay a monthly fee according to how many days per month you want to use the facilities, although some also offer co-working on a pay-as-you-go basis. In fact, many business owners who are primarily working from home use these office spaces as and when they need to meet with clients or simply need to take a break from being at home.

Rent an Office

For business owners who need access to an office on a daily basis, there is also the option to rent an office on a short-term or rolling contract. You won’t be tied up in long lease terms but instead can pay a monthly fee for an office with the equipment you need.

Buy or Lease Your Own Premises

Finally, there is always the option to buy or to even to lease offices on a long-term contract. However, this is rarely the best course of action for a start-up in the early stages of operation; there is often a big financial outlay involved and not much flexibility should your business grow or need to cut costs.