Service offices, virtual offices, co-working, collab-spaces—they all mean the same thing: a space that’s rented out, usually to start-ups or small companies who do not have offices in that area and need a professional office environment to work in.
But why are more and more businesses turning to service offices instead of going for a traditional office? Here are seven reasons why:
A service office in Singapore will have everything you need ready for you. Need a phone to call a local number? Check. A steady Internet connection? Check. A conference room for that morning meeting? Check. Coffee? Check. That’s how easy and hassle-free it is when you rent a virtual office in Singapore.
Start-ups won’t have to shell out the capital for yearlong rental fees on office space, pay for the computers, furniture, lights and fixtures and even for the maintenance or clean-up crew. Start-up founders can simply use the amenities and pay as they go or opt for a package.
Either way the arrangement goes, you save a lot.
Plenty of start-ups start on shaky grounds. So it’s only wise to keep the team lean and the expenses down. Renting office space makes sense, especially if you’re not really sure how long you’ll be in the country. If the business is mobile and there’s a big chance that you’ll have to transfer operations someplace else, or you’re just waiting until negotiations are final, this is a handy go-to option for you and your team.
It’s certainly a more casual working environment than, say, a traditional office. There’s more room for people to show their personality, to be themselves, to communicate with others without all the hierarchy and formality that often gets in the way.
You won’t have to stick to three-year or five-year leases. You can opt for a package or pay on a per day basis. That’s pretty convenient and allows you to easily manage and budget your finances.
You’re not the only start-up in there. Chances are, if you strike up a friendly chat with the people over on the next table, you could find yourself brainstorming on many wonderful projects in no time.
You don’t have to work with everyone you meet. But meeting so many people in virtual offices can go a long way to building up a network of contacts for you, something that often proves invaluable in the long run.