This year has seen a flurry of new trends emerging for both large and small businesses. Over the past few months, London’s startups have shown a greater interest in private offices. Private offices are a popular and practical alternative to coworking spaces. Another trend amongst businesses of all sizes is flexible workspaces. In 2019, the tech industry accounted for 16.3% of all flexible workspaces in London, which was double that of 2018. These numbers are projected to continue increasing and we have already seen an early indicator of this here at Canvas. We’ve compiled some of the many reasons why flexible private office spaces in London have seen a surge in demand. As well as why London startups are opting for their own space.
Cultivating a Culture and Making the Space Your Own
One of the main deciding factors for employees when choosing to stay at a company or selecting a new one is the culture of the team.
After spending a great deal of time working from home over the past 3-6 months, depending on the industry, team culture has been that little bit harder to endorse and maintain. Not only that, it’s also highly likely that your team has missed working together and are looking forward to some time away from home. You may have also recruited parts of your team remotely. Well, now you have the opportunity to create an office and team environment that you’re truly proud of. This has very much been the case for small businesses established in the past year.
The perk of private offices is the ability to really make the space your own. Being able to decorate the space and choose a layout to define the environment you need, makes a huge difference in productivity and overall team morale. The office is an opportunity to create a visual representation of your company values, priorities and overall culture.
The Benefits of Privacy
The market is particularly competitive for startups, which makes the desire for privacy understandable. Guarding an idea, as well as allowing the space and time to harness innovation, is hugely valuable to any startup or business on the cusp of a new product launch.
Privacy not only protects your ideas, it also allows for minimal distractions. Coworking spaces are fantastically vibrant, however, opting for a private space allows for the freedom to work without being disrupted or being disruptive to others.
Having your own private office means that you can also control the space as you please. This might be to protect sensitive information for example. Or maybe for security. Whatever the reason, your own private office means that you can manage exactly who comes in and out.
Accelerating Business Growth
Tech startups are thriving this year, with the digital arena continuing to grow rapidly. Businesses of all sizes have been prioritising the mobilisation of their digital products and strategies. This has also been a contributing factor for the growth in demand for a private office space for rent. Opting for a flexible office space allows for growth within your business.
There is also a great deal to be said for having a serviced office. This allows you and your team to leave the office management to the experts. Productivity hugely increases when you take away the non-essential tasks and create a clean and healthy environment for the team.
Supporting Flexible Working
Teams are working in increasingly dynamic ways. This is particularly true in startups working towards releasing a new product or completing several funding rounds. The hours are often unconventional with tech teams completing web and app deploys overnight, to avoid any issues or bugs occurring during peak times. A private space allows the team to spend as little or as much time in the office as required, with 24/7 access.
The team will have the freedom to come and go as they please, midweek or mid-weekend, whatever fits the business’s needs and their working patterns. Having that sense of ownership and ease of access makes for a much more enjoyable working experience, allowing teams to fall into grooves that work for them.
Startups in particular work in an agile way, which requires a great deal of flexibility. The same can be true for many businesses in London with an ever-evolving climate. This makes flexible office spaces a necessity.
There are a number of things to consider when shopping around for a private office for rent. It’s important to think about:
Understanding early on how much you’re able to pay for a workspace will support you in shortlisting and making that final selection. Private office spaces tend to be good value offices, particularly if they allow for things like growth and flexibility. Opt for a space that includes all of the bills included within the rent, so that you have a manageable, surprise free, projected spend.
While highly connected, London is vast and has a great deal to offer. Making a decision on the location you would like to base your team in will be useful when understanding what the market has to offer. Locations such as Clerkenwell, Shoreditch, and Old Street are known to be London’s thriving tech hubs. They also have some of the best value offices and tech spaces London has to offer.
This is an exciting time to bring the team together and start building a business that you can all be proud of. Innovation and rapid growth are most definitely in sight for many startups, with consumer needs fast evolving. Opting for a private office allows for much-needed flexibility without skimping on style or the essentials. Positioning yourself in the heart of the action and the city, guarantees the peers and the inspiration required to go all the way.
At Canvas, we believe that renting an office can and should be made simple. That’s why all of our offices are private, serviced, and come with bills included. We offer private office spaces in Shoreditch, Old Street, Dalston, Mayfair and Clerkenwell. Get in touch today to learn more about our workspaces in London’s key locations.