Running a private office comes with a long list of expenses — rent, long-term lease commitments, utilities, office furniture, internet setup, maintenance, and admin staff. Among all these, rent takes the biggest bite out of a business’s budget. In the UK, companies waste an estimated £10 billion each year on office space they barely use. […]
Running a private office comes with a long list of expenses — rent, long-term lease commitments, utilities, office furniture, internet setup, maintenance, and admin staff. Among all these, rent takes the biggest bite out of a business’s budget. In the UK, companies waste an estimated £10 billion each year on office space they barely use.
One effective option to reduce overheads is to switch to coworking spaces, where businesses can rent private offices or desks on flexible terms. With fully furnished setups, high-speed internet, meeting rooms, and admin support, companies can avoid the upfront and ongoing costs of a traditional lease. Plus, these spaces have flexible coworking space pricing, which means you only pay for what you use, when you use it.
In this article, we will look at the benefits of coworking spaces and how they can help save money without compromising on essentials.
Owning or renting a traditional office usually means signing a long lease. And if you break this lease before its completion, it can result in hefty penalties. Coworking spaces take that pressure off. They offer flexible coworking space pricing, where you can book a space for just an hour, a few months, or even a few years. You can adjust as your business changes, without getting tied down.
In a private office setup, businesses often need to hire staff to handle reception and admin tasks. According to Gov.UK, the average salary for a receptionist in the UK is around £22,000 per year, which can be costly for small businesses. But in coworking spaces, these services are taken care of for you. You get a professional front desk and admin support, without the extra expense or hassle of managing it yourself.
Another benefit of coworking spaces is that they come equipped with modern technology and infrastructure that might be too expensive for small businesses to set up. From high-quality printing facilities to video conferencing tools, these spaces provide access to resources that can improve productivity and collaboration.
For medium and large businesses in the UK, electricity costs can exceed £5,000 and £10,000 a year, respectively. With coworking spaces, the cost of utilities such as electricity and internet is included in your membership. There are no additional fees, so you won’t be hit with unexpected bills.
Let’s say you’re a team of three with plans to grow. You could rent a large office now to prepare for the future, but what if growth takes longer than expected? Or you might choose a smaller space to start with, only to find you’ve outgrown it in a few months. With coworking spaces, you don’t have to worry about this. You can easily move to a larger or smaller office as your needs change, without the cost or hassle of breaking a lease or relocating.
A new set of furniture (chair and desk) for a single employee can cost around £340. Fortunately, coworking spaces come fully equipped with ergonomic furniture, so businesses don’t have to make a hefty upfront investment. Plus, you won’t need to worry about maintaining or replacing the furniture, which is an additional benefit of coworking spaces.
Every business wants to set up shop in a prime location with excellent transport links and nearby amenities. However, renting office space in such areas can be expensive. But it doesn’t have to be. Shared workspaces are often located in prime city areas and are much more affordable than traditional office rentals.
Garden Office Bermondsey, for instance, is located on Tanner Street, which is near key business districts like the City and Westminster. Renting here not only saves you money on rent but also provides a prime business address that helps attract clients.
Coworking spaces offer businesses an efficient way to reduce overheads while still having access to necessary office resources. By eliminating long-term lease commitments, companies can save on rent, utilities, office furniture, and admin services. Furthermore, with coworking space pricing, businesses only pay for the space they use and when they use it, which helps them save even more in the long run.
If you’re searching for an office that combines the flexibility and benefits of coworking, look no further than Garden Office Bermondsey. Our office spaces are designed to foster business growth and come fully equipped with essential amenities like parking, high-speed Wi-Fi, printing and scanning facilities, meeting rooms, and professional reception services — all available at reasonable rates.
To learn more, visit our website.
