Over the last decade, Thailand has become a premier destination for western businesses looking to expand into the Asian market. It is a popular gateway to this part of the world, due to the draw of low corporate tax rates and quick registration processes.
There is a catch though and it’s a big one. If you want full ownership of a company in Thailand, it needs to be held in the name of an American or Thai partner. Despite this, scores of new businesses are launched every year and many are run from serviced offices in Bangkok.
Serviced facilities are a great way for new businesses to get a quick start and build up a secure foundation for growth. Keep reading to find out more about why they might be right for you.
Getting to Grips with the Basics
A serviced office provides all of the things that a conventional office lease does, with the difference being that it carries no long term contract. Also, the workspace is accessed as a fully furnished, fully equipped corporate suite. There are exceptions to this – some companies prefer to furnish an office for themselves – but, usually, there are no set up costs.
You pay a flat rate fee to call a ‘ready to go’ office your home. Serviced facilities include cleaning, lighting, HVAC, IT support, telephone answering and more. It is a great option for small teams looking to expand into Thailand because it minimises the risks. If you’re not tied into a 3-5 year lease, you can retain flexibility. Visit www.servcorp.co.th/en/serviced/offices/ for more information.
The Main Benefits of Going Serviced
According to statistics, many of the businesses which opt for serviced facilities are concerned with their degree of flexibility. This is a valid issue because the first few years of life can be tough for a new company. There is no telling where market fluctuations and rapidly changing trends will take you. The important thing is that you can adapt to accommodate them.
Serviced office solutions are rented out on a rolling basis. This means that the contract lengths are very short and usually negotiable from month to month. If the business is thriving and you want to take advantage of it, you can upgrade to a bigger space without incurring penalty fees for a contract termination. Alternatively, you can downsize if you need to cut costs quickly.
Pay As You Use Resources
If you decide to work from a serviced suite, you’ll never have to worry about paying for resources you don’t need. For instance, instead of being expected to cover the cost of a generic office package (containing some tools that you have no use for), you can pick and choose the assets which hold the most value.
So, if you do almost all of your business online and very rarely make telephone contact, you probably don’t need a 24/7 receptionist service. You could scale the size of the service back or completely eliminate it from your rental terms. That way, you’ve got more to spend on the things that you do need; like IT support, help with website development, and fast broadband.
Why Modern Businesses Need to Act Quickly
While the core principles associated with setting up a business are much the same as they were fifty years ago, a lot of other factors have changed. These days, consumers are fickle beasts and there’s a lot of competition for their attention. It means that modern companies have to learn how to adapt quickly to market changes and serviced offices are one way to ensure that you stay flexible and ready for whatever the world throws at you.