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Flexible Office Space: 5 Fundamental Ways to Save Costs

February 2020 – Landlords who are serious about doing business, such as The Business Exchange (TBE), are looking for efficient, well-organised companies who are equally serious about delivering results in a shared office space environment.

If you are not already familiar with the term “co-working”, it is a working environment where business is conducted in a shared space by a wide range of professionals, from entrepreneurial freelancers to large corporates.

Shared Office Space

These shared workspaces rent out virtual, private and shared office spaces, which include the use of business facilities, meeting rooms and common areas. Some, like TBE, also offer on-site cafes, gyms and restaurants, as well as a host of other services. David Seinker, CEO of TBE, says, “As the costs of office space rentals increase, space sharing is becoming crucial. With TBE, you only pay for the workspace you use.”

Shared Business Utilities

Seinker also pointed out, “By sharing communal business equipment, facilities and spaces, companies enjoy cost-savings benefits, not easily found in traditional office lease agreements.” High-speed WiFi, 24/7 access and security, as well as generators – a must to conduct business in South Africa nowadays – are a major drawcard to these sophisticated and professional offices spaces, located in prestigious business areas.

Flexible Office Lease Agreements

Companies are finding it increasingly difficult to forecast their space requirements over more than five years, which makes the flexibility of co-working office space all the more appealing, particularly if your business derives most of its income from contract-based work.

Flexible Workspace Management

Flexible workspace offerings contribute to significant cost-savings when it comes to renting office space. With the average lease period being from one year for small businesses up to three years for larger companies, office space flexibility, in terms of both lease length and the ability to quickly up or downscale office size, is becoming a sought-after benefit.

Building A Business Network

The value of a vast, professional business network can never be underestimated. Besides getting to mingle with other businesses in a shared workspace, professional office space providers such as TBE, regularly host workshops and other professional networking events, where you can build your networking community – which can lead to a whole host of new opportunities.

Shared office space should be considered if you want to fully reap the cost-benefits of co-working, networking, and the associated innovation for your business that comes from it.

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