If you're running a business in London, chances are you're always looking for ways to save money and cut down unnecessary expenses. And with costs of living on the rise you’re probably more mindful of your bottom line than ever before.
If you are worried, you’re not alone.
Businesses across London and the UK are facing rising costs across the board, with increases in energy bills alongside rising inflation and disruptions to the supply chain. But while there may be challenges, recessions present risks to businesses, but they also offer opportunities.
And if you’re looking for ways to cut costs and weather the storm, we’re here to help. One of the best ways to cut costs is to switch from a traditional office space to an all-inclusive, flexible office space. We’ve put together the benefits of making the switch so you can decide if it’s the right choice for your business.
What is flexible office space?
Flexible office space is a type of workspace that can be adapted to the needs of a variety of companies. Unlike traditional office space, which is typically leased on a long-term basis, you can rent all-inclusive, flexible office space on a short-term or rolling contract. This makes it an ideal option for businesses looking for a more flexible working arrangement.
This type of office space is often available in various sizes and configurations, making it easy to find a space that suits your specific needs. Whether you're a small business or a large corporation, flexible office space can give you the freedom to grow and change as your business evolves or as the economy changes.
4 benefits of flexible office space in uncertain economic times
1. Pay one fixed monthly price
When you have a traditional office space, there are plenty of hidden costs. You must pay separately for rent, utilities, internet, furniture, and janitorial services. This can get expensive quite quickly..
With flexible office space, you pay one monthly price that covers everything. This makes budgeting for your office expenses much more straightforward and can help you save money in the long run.
2. Get access to amenities
Another benefit of all-inclusive, flexible office space is that you often have access to amenities that you wouldn't otherwise have access to. For example, many flexible office spaces offer on-site meeting rooms, focus booths and breakout spaces. This can make your life a lot easier and help you take care of your employees' needs without having to go off-site (and therefore incur extra costs).
3. Enjoy greater flexibility
Perhaps the biggest benefit of flexible office space is, unsurprisingly, the flexibility it affords you.
With a traditional office space, you're locked into a long-term lease. That means that if your business needs change and adapt, you could be stuck paying for an office that's too big or too small for months or years.
With flexible office space, you can easily adjust your square footage as needed so that you're always paying for exactly what you need – no more, no less. If you outgrow your office space and need to move locations, most flexible office spaces either offer month-to-month leases or will work with you to explore options, so that relocating is easy and stress-free.
4. Better well-being for your team
The cost of living crisis affects everyone, and your team is likely worried about the increase in living costs. But alongside worrying about rising costs, there are probably concerns about job security and potential redundancies.
By renting a flexible office space that you can tailor to your financial needs, you can reassure your team that their jobs are safe. Explaining to your team that you’re moving to a smaller office space to cut costs, can reassure them that you’re not looking to lay anybody off.
You can also give them the option of working at other locations, like meeting rooms in different locations, to cut down on the cost of commuting. By doing this, you can ensure your team is focused on the job at hand and not worried about updating their CVs.
Find flexible office space in London
If you're looking for ways to save money on your office expenses, ditching your traditional office space in favour of a flexible office space is a great option. With one monthly price covering everything from rent to utilities and furniture, it's easy to budget your office expenses.
With month-to-month leases that are easy to adjust as needed, flexible office spaces offer greater flexibility than traditional office spaces. This gives you the freedom to move locations as needed without being locked into a long-term lease.
So if you're looking for ways to save money and increase your flexibility, consider switching to an all-inclusive, flexible office space today.
Flexible office space in Mayfair
If you're looking for a centrally located office space in London, this is the perfect option. This converted office building is just a 2-minute walk from Bond Street Station in the heart of the West End. You'll be able to easily access clients in nearby business hubs like Marylebone, Covent Garden and Soho.
The flexible office space is competitively priced and comes with multi-site access to multiple meeting rooms, break-out areas, 24/7 access and much more – everything you need.
