Serviced offices – are they the answer for small businesses? Well, let’s first look at what serviced offices are. A serviced office also known as an “executive suite” or ‘executive space’ is an commercial property or office or office that is fully equipped and managed by a facility management company, which then rents individual offices or floors to other companies. Serviced offices, which are also referred to as managed offices, business centers, executive suites or executive centers, are often found in the business districts of large cities around the world.
Interstingly, there are references to serviced offices originating in the 1980s in the major US business cities, evolving from call centers for traveling salesmen.
In the UK, the concept of working together and sharing commercial property premises, staff and other overheads was first used by Barristers. They normally band together into “chambers” to share clerks (administrators) and operating expenses. Some chambers grow to be large and sophisticated, and have a distinctly corporate feel.
Serviced offices and business centres are popular for many reasons. Compared with a conventional lease, serviced offices only require you to commit for normally a minimum of 3 months. Serviced offices are usually available 24hrs after viewing. Business Centres can be situated in prime locations that can boost your company’s visibility and corporate identity in particular markets.
Basic support services include telephone answering services, mail services, reception desk whilst communal facilities and meeting rooms, conferencing facilities can be hired on a per usage basis. For small businesses the flexibility for rapid expansion is an enormous incentive.
Markets are constantly changing, and organisations are having to seek new property solutions that provide a lot more flexibility in terms of space and length of occupancy. The serviced office and business centre market has been a fast growing sector in recent years and has also gained credibility and fulfils business’ need for absolute flexibility.
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