23 Jan Why Flexible Office Space is Crucial for Modern Small Businesses
When many people think of office space, there is often only one model that they are familiar with: the traditional office space with a long-term lease, with X number of offices, suited for X number of employees. The changing needs of a business can highlight the problems with this outdated office setup and the need for a flexible office space solution. The drawbacks of a traditional office space become most apparent when a company is either expanding or needing to cut costs. Times of rapid expansion or reduction in personnel can make or break even a well-established company.
Plan for Expansion
If a company suddenly finds that they need more personnel than they had accounted for when they were a startup first leasing the space, they are forced to get creative to accommodate the new team members. The space issues could mean that people are forced to work off-site until a new space can be secured. This is a reasonable solution for some companies, but for many others, it is simply unfeasible. This common problem with expansion could explain why many startups are forgoing the traditional office setting and looking into flexible office space options that can more readily accommodate their planned growth.
Save Money When Times are Tight
On the opposite end of the financial spectrum, imagine for a moment that your company needs to cut costs drastically to stay afloat. This means losing a percentage of your personnel for the time being. If you are stuck in a traditional office setting, (and a traditional long-term lease) this means that your choices are either to break the lease or continue paying the overhead for a space that was meant for a larger workforce and is now greatly underutilized. In situations like these, a flexible office space that will allow you to downsize your space as needed is absolutely crucial.
Things to Consider When Searching
When considering spaces for your business, make sure to think about whether it is a flexible office space that can meet your company’s needs. Will the space allow for your company to expand or reduce, as needed? Consider whether your business’s future is certain enough to commit to a long-term, traditional lease or whether a short-term lease is more appropriate.