Establishing a business of your own can be a daunting task. It requires months of research and preparation on your end. Your workplace is the first thing that you need to finalise as it would be the base for all your communications and would serve as the daily reminder for the purpose of your endeavors. While you might be working day and night to secure a proper space for your office, shared office spaces can be a cost-effective alternative to your search for a traditional workspace.

As an entrepreneur or owner of a small business, traditional offices can bear large expenses causing you to drain down your hard-earned money down the drain. Shared office spaces can take away this concern while providing you with a professional-looking space that would suit the needs of your client and your own work sanity. 

Let’s first understand what shared office space is and what it can offer you:

What is a Shared Office Space?

A shared office space, also known as serviced office space or business centres, is a ready-to-use office solution shared by other companies and organisations. These offices come fully equipped with the latest technologies and amenities and can be a turn-key solution for establishing a branch office or startup. 

Besides offering amenities, shared office space can also provide up and coming entrepreneurs with networking opportunities and a motivational environment. With features such as 24*7 access, mail handling, telephone connectivity, high-speed internet, and an optimum location, a shared office can be a perfect stepping stone for budding businesses and startups. 

Moreover, pooling your office space with relevant professionals can help you enjoy the synergy of building your referral with similar businesses. For instance, if your company provides writing services, a shared office can have you connect with other digital marketing businesses and help you expand your client base and networking opportunities.

Suggested Read: Why you should consider a Co-Working Space for Your Start-up?

How to Choose a Shared Office Space?

• Location: Location of the shared office space must come into factor, especially for certain types of businesses. Most of the clients require the business to have an office in the central city. Nevertheless, if the location is not primary in your list, you can opt for lower-cost shared workspaces. Make sure the location you are selecting is aesthetically pleasing for employees to enjoy their time while working. Also take into consideration the distance of the workspace from your home so you don’t have to commute for hours to go to the office.

• Tenants: As a startup owner, you should look for office space that accommodates complementary businesses or similar-sized companies. The tenants you would be sharing your office space with will play an important role in expanding your business and finding new clients. Not to mention, you should look for networking opportunities and a motivational vibe from your workspace. 

• Contract: Most shared office spaces offer at least 3 months of membership. Nevertheless, lease options will vary with various service providers. Look for the one that offers contracts that suits your budget and timeline. 

• Amenities: In terms of amenities, most shared offices offer business equipment, high-speed internet access, receptionists, office furniture, mail service, conference and meeting rooms, delivery service, publishing services, and a cafeteria. If your business requires special amenities, you can contact the service provider to offer you the same at some extra cost.

Shared offices are one of the best options for startups and small-scale businesses. In order to find the most suitable space for your particular business needs, you would need to do a bit of research. Be patient about finalising a space and make sure to seek counsel from trusted advisors and mentors.