Why You Shouldn’t Compromise on Office Space
Property Week, an online source for real estate news across the UK, has reported that office rent in London has moved up into the next price band as high demand continues. And it’s not just in the capital that we’re seeing office rent rising and rising, with costs in many cities proving to be too much for small businesses – particularly start ups. This is leading to a new generation of ‘professional settlers’; small businesses that operate out of venues that may keep the rain off, but are failing to meet their growing and evolving needs. What many don’t realise is that business growth can be severely restricted by a suboptimal office space that doesn’t facilitate modern development.
- The Rise of the ‘Professional Settler’
Cramped spaces, miles from the city, far from public transport links… business venues that 10 years ago would have been left abandoned are now some of the only options available for new businesses. But being a ‘professional settler’ isn’t good for business. Here’s why you shouldn’t settle:
- Commuting Issues
Office rent is, in most cases, more affordable outside of the cities, but think about the impact this could have on business. Research has found that people who commute long distances for work are more likely to feel unhappy and rate their personal wellbeing as worse than those who have very short commutes, and this could affect their productivity in the office.
- Poor Working Conditions
Poor working conditions could also affect individual performance within the office – and could also leave you with a rather hefty fine, too. It was only recently that Poundstretcher were fined £65,000 for forcing their employees to work in a venue far too small, where passageways and fire exits were blocked with goods, and poor lighting made it a danger zone!
- Professional Image
If you’re a new business, it’s all about getting the word out there, and securing some high profile backing from investors and partners. But have you thought about what your office space says about you? You want an office that portrays a good, professional image. There’s nothing ‘cool’ about meeting a potential investor in a dark, damp, leaky basement.
Finding an Office Space that Works for You
We get it – office space can be expensive, and you may not feel like you have much choice other than to settle for an office space that doesn’t meet your needs. Not true! It’s time to think outside the box. As a nation, we’re beginning to move away from the ‘traditional’ office space, and explore more innovative and creative avenues. Coworking spaces, shared office spaces, and serviced offices are ‘in vogue’ right now, and here at compareyourbusinesscosts.com, we can help you to find an office space that not only meets but exceeds your expectations – and with office rent that you won’t believe!