Starting a new business can be extremely hard on a bank balance. Just like when you buy your first house, a new business usually requires a large amount of start up cash to cover the costs of insurance, memberships, equipment and staffing. This, of course, doesn’t even take into account the costs of running an office space. Offices incur many charges in addition to basic rent. You have to consider rates for electricity, gas, water, telephone and Internet, as well as the initial cost of kitting the office out with furniture and decoration, and any service charges the building might levy as well.
A serviced office, on the other hand, consolidates all these charges into one, so you can get a beautiful new office space in Liverpool or serviced offices in Leeds for one monthly rate, without usually having to factor in any additional charges. Although the terms of a serviced office vary from one lease to another, it will generally include furniture, all rates (except perhaps Internet and telephone) and those pesky building maintenance charges. Another advantage is that the leases are generally shorter, so as your business expands, you can adapt, by adding to your lease or even moving property if you need to. Likewise, if you find you’ve taken on more space than you need, you can reduce the amount of space in your lease without delay or penalty costs. Plus, the monthly rate you pay for this flexibility usually works out more cost effective than a conventional lease too.