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What is a Serviced Office Space? Your Top Questions Answered

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You may have heard about serviced office space – in fact, it’s something all entrepreneurs and businesspeople should consider, especially when they are just starting out, or when they are in the process of reinventing or expanding their business. The serviced office space does, after all, offer so many advantages that make doing business so much smoother and quicker. Thanks to serviced office space, business establishments avail of opportunities that otherwise wouldn’t exist. But what exactly is a serviced office space? And why is it so great? Here are the answers to your top questions regarding the serviced office space.

What is a serviced office?

The serviced office space concept came about because there were two problems the new entrepreneur or the business person trying to test new areas and expansion were faced with: the issue of initial investment and the dilemma of contract commitment. Serviced offices are rented spaces that have all the necessary commodities for a starter business – with many luxuries to boot – without requiring a long-term investment.

So what do you get?

You get an office. A fully functioning office. What’s more, there are various kinds of spaces available to suit the needs of the person who occupies it. There are accommodations for IT, accounting, and meeting rooms – there are various office sizes and various cubicle arrangements. As with the lease or letting contract, there is always room for negotiation.

What are the requirements?

You’ll be leasing the space just as you would any other space, except that it can be done on a shorter term and there is not much equipment to consider. Your contract will probably stipulate:

  • A deposit, refundable after 60 days and usually for the amount of two months’ letting fee
  • The use of conveniences such as a reception service, IT and communication clearances, waiting areas, stock rooms, meeting rooms, and other great perks.

What are the benefits?

The benefits are numerous, especially to the starting entrepreneur or the business man or woman who wishes to test new markets or expand. The major advantages are:

  • Steady cash flow management
  • Flexible contracts
  • No initial investment

Projecting a professional image is important in this day and age, and whilst virtual offices are becoming more and more popular, there is nothing like having an actual place and being present in a certain area to establish yourself in the business world. Here’s another advantage of serviced office space such as office space in Swindon that hasn’t been mentioned yet: it allows you to mingle with other like-minded entrepreneurs in the building and at the office site, and this means you have an integrated network of contacts at your fingers. A serviced office space isn’t just practical – it’s a perfect solution for those who want to make the most of their time and investment.

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