Is a Long-term Lease or a Serviced Office Best for You?

A Serviced Office might be a solution that makes sense for your business at this point in its evolution
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The time has come to leave the garage and find office space for you and your business. However, it’s not as simple as just finding a convenient location and signing on the dotted line. There are some considerations you need to make before you make your choice.

Are you a start-up?

There’s been a huge rise in the numbers of start-up businesses since the crash of 2008 and all these enterprises need a home! It might seem best to find somewhere secure and long term, but short-term offices may be best.

For a start, office space is expensive and hard to find and so can cost a lot. This, combined with the fact that start-ups may fail, makes a serviced office a better option. It’s much easier to pick up and leave that short-term office space in Brentford with a month’s notice than to get out of a five-year lease.

Additionally, serviced offices have all the utilities a small business will need included in the monthly fee – internet, phones, cleaner, business rates and insurance. It’s cheaper and easier for a young business to pay for these as a package, without even having to look for them!

Do you plan to expand?

If you hope to employ new people in the next 12 months or so, then you need a space in which you can expand and serviced offices can offer this. On the other hand, if you need to downsize, you can do that too, probably with just a month’s notice.

How many people do you have currently?

If you employ fewer than 10-15 people, it can be hard to find long-term premises that small, especially in London. A shared office is the ideal solution here, especially when you consider the utility packages.

How long do you want the office for?

If you’re confident that you can meet the five-year commitment, then you may be better off in a long-term lease. The business world is unpredictable right now, so flexibility is essential – you may need to move back to your garage or garden room and you certainly don’t want to have to buy your way out of a fiddly lease.

How quickly do you need it?

Setting up a conventional lease can take up to three months, whereas finding a suite or a room in a serviced office space can take anything from a few days to a week.

What’s your budget?

This is a big deal, and like most things, it’s not as simple as it seems.

Conventional office space is cheaper by the square foot, but there are many, many costs on top. There’s telecoms, furniture, buildings insurance, business rates, cleaners – all the things that are taken care of by a serviced office fee. There’s also the not inconsiderable cost of drawing up a lease agreement and the crippling costs of early vacation.

So a serviced office space will look more on paper, but this is because you’re looking at the price per desk.

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Where Will Your Career Take You?

Where Will Your Career Take You?
Photo by CC user geralt on Pixabay

Do you know where you career will take you?

Some individuals have just about everything laid out to a tee. Others, meantime, pretty much go with the flow, not knowing where they might be working a year or even six months from now.

No matter where you might fall in this mix, it is important to not overlook the importance of your career, especially in a day and age when jobs have become tougher to find for so many individuals.

That said focusing on where the job market in general is headed, which industries expect to continue to see growth in the coming years, and what strategies workers will have to employ to stay relevant are all important matters.

So, where will your career take you?

Educate Yourself Often

One of the ways to stay relevant in the job market now and in the future is of course education.

That education comes in two forms; the education you learn in the classroom and the education you get each and every day watching the world around you.

For the former, it is important to note what level of education you have up to this point and time, especially as it pertains to your current career.

Do you need more education to further yourself in your current industry? With added education, will it put you where you ultimately want to be? Lastly, do you have the available resources (time, effort, money etc.) to go back to school while still working?

When it comes to the education you can receive from watching the world around you, this can be just as important as any coursework you undertake.

For example, if you currently work in the healthcare industry, you know that technology is always changing how things are done in most instances. What is being used today to treat diseases, operate on patients, offer hope to those who likely did not have hope just a couple decades ago, these things are for the most part progressing.

With that in mind, how will your healthcare career be impacted now and in the years to come?

Whether you are looking at careers as a medical technician, surgeon, gis careers, working in mental health, you need to stay abreast of the changes going on around you. This is important whether you have been employed for many years in healthcare or are just beginning to get your feet wet.

Going Online for Education

If you decide at this point and time that you will require more hands-on education in the classroom, be it possibly a master’s degree, the options today for the most part are better than what was available even a decade or two ago.

Now, many in the healthcare industry can turn to online studies to better their skills and knowledge. By taking the required online courses for their healthcare specialty, they are able to be compliant with today’s medical needs.

In the event you are one of those individuals looking to do just that, here are a few tips for getting the process started:

  • Selection – First and foremost, making the right selection on a school and its coursework is crucial. While you may be limited in some of your options, don’t just settle. Make sure you ultimately get the added educational requirements you need;
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  • Timing – One of the key facets in this situation is properly managing your time, time that will likely be divided between work and going back to school. It can be overwhelming for some people, while others will take the ball and run with it. Make it known to family and friends (if you decide this is the route you are going to go) that they need to be respectful and understanding of your demanding schedule. In most cases, those closest to you while understand and be very supportive;
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  • Focus – Lastly, make sure you are clearly focused on improving your career outlook through more education (if needed) and becoming more of a leader in the workplace. It is easy for people to at times lose their focus, but that can of course prove to be quite detrimental. When you put all of your focus into achieving your goals, the results can be quite satisfying.
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