7 Reasons that Make Serviced Offices the Best choice for Modern Businesses

The fastest growing sector

The serviced office industry is one of the fast-expanding areas in the European and global real estate market. In today’s ever-changing and competitive global marketplace many businesses opt to use them to save time, money and effort. Serviced office, which is a flexible, cost-effective and a convenient alternative to the conventional office, represents a way to optimize all these three elements simultaneously.

What exactly are Serviced Offices?

Ready- to-go offices

A serviced office – also known as a managed flexible office space – is a fitted and furnished office space in a professional business environment, ready for immediate occupation. Serviced office providers take on the responsibility of maintaining the office premise and providing a range of business services, including reception and telephone answering services, secretarial support, conference and meeting facilities, high speed internet access and so on. It is also ideal for businesses that need good quality fast or for short time. It could be used as company headquarters, a regional base, or a step up for the business.

No need for long term commitments

The primary difference between serviced offices and conventional offices is the way they are used. A lease for a serviced office is usually short-term and can be as short as one month; however, long-term leases, which are usually associated with conventional office spaces can last for 3-5 years, not to mention the initial capital required to customise the space, purchase furniture and equipment, and decorate. According to a study by Deloitte both medium-sized and larger companies are increasingly using this space for short term expansion either for projects or for confidential client work.

Why choose a serviced office?

1. Cost Saving

The key feature of the serviced office  is that it provides significant cost savings. If you choose a traditional office, then your start-up costs can be quite high that include:

• Furniture and equipment
• Fit-out costs
• Fixtures and fittings
• Deposits for rental as well as leasehold properties

All this comes under your expenditure for renting a traditional office space.

But, when you choose a serviced office, you get short-term agreements at affordable rates.

Moreover, facilities such as break-out areas, meeting rooms and video conferencing system are also available to businesses without additional investment, resulting in substantial savings and reduced upfront costs.

2. Quick Facilitation

Finding a conventional office space, undertaking relevant surveys, setting up technologies, and furnishing is always time-consuming. If you select a serviced office space, you can better utilize all your time, efforts and capital in growing and developing your business. It can also be a great choice if you are re-locating and need office space whilst in the process or even when your offices are being refurbished.

3. Flexibility

Another important feature of the serviced office is its ultimate flexibility as compared to conventional offices. Businesses are changing where and how they manage their operations on an increasingly regular basis, creating a need for not only flexible manpower but also flexibility in the capital infrastructure. Serviced offices can be available for any time period between one month and one year and usually have renewable agreements. Such short term lease agreement is beneficial in particular to start-ups usually with unstable cash flow, or even large-scale companies looking to expand and “test the waters” in new markets. Office space and layout can be customised, and office size is readily scalable, allowing businesses to upsize or to downsize to fit their latest business requirements. In short, serviced offices can shrink or grow as per your business needs and objectives.

4. Efficiency

At the serviced office centre, infrequently used space, such as the pantry, conference and meeting rooms are available for use and payable on a "pay-per-use" basis. Compared to conventional office space, it is far more efficient than owning the meeting room and office facilities which are only needed for a few hours per week but companies are charged with rents and utilities even it is unoccupied for most of the time.

5. Professional business support services

At the serviced office centre, office facilities often come with a dozen of professional business services that could be arranged upon request by businesses. A professionally trained service team is also in place to provide all the basic office services to keep the businesses’ workspace running, such as reception services, IT support, secretarial support, cleaning and security. Companies can benefit from fully-supported office environment allowing them to concentrate on what matters - driving their business.

6. Reduced risk

In serviced offices, the risk level is lesser when compared to conventional. With IT infrastructure, telecommunications system, office equipment and day-to-day administrative functions centrally managed by the serviced office provider, all the concerned operational risks are therefore considerably reduced. This can also be a huge plus for the success of a business.

7. Prestigious Business Address

Projecting the right “image” is a crucial element of success. In the recent past, prestigious business addresses, buildings, and locations were reserved only for the most esteemed companies. However, now it is possible for everyone, including solo entrepreneurs, small and medium sized businesses, as well as multi-national corporations to benefit from the same prestigious locations as their bigger competitors. If you rent a serviced office in prime business location, you get to position your company with fully fitted, furnished, and exquisite offices at affordable prices. Being in a location that represents your industry also provides greater networking opportunities if you want to expand your horizons and work with other businesses.

Serviced offices now in Budapest!

Serviced offices are thought to be found in the business districts of the largest cities. But it is also an option in Budapest. Far from the quirky office spaces of trendy East London or Brooklyn, they are appearing in the capital of Hungary, which is frequently called the “Little Paris of Middle Europe”.  All in all, the benefits of serviced offices over traditional offices are countless. If you want to know more about serviced offices and their benefits, please check out this infographic.

(Source: https://www.entrepreneur.com/article/249805)