Selecting that first office is one of the most critical decisions that a young company has to make. It is an expensive business, no matter where you decide to launch. New Zealand is no exception. It is home to some magnificent cities, with great opportunities for start-ups, but rent costs are high and climbing.
The good news is that commercial real estate has experienced a transformation over the last ten years. The rise of the entrepreneur and the popularity of smaller, more creative business ventures has given birth to co-working culture. Now, corporate offices are what you make them, and sharing is the hot new trend for 2017.
Keep reading to find out more about the benefits of co working and why you should get experimental with your first office.
These days, there is no real reason why you need to commit to a long-term lease. It does not offer the stability that you might think. While you do not have to worry about the cost of relocating, you cannot grow your company beyond the terms of the contract. Check out www.servcorp.co.nz/en/ to browse the type of work-spaces that you can get without having to make unsuitable commitments.
Corporate incubators and accelerators are viable options for some. They can help start-ups in the early stages of their development because the providers offer all kinds of resources. They are usually focused on rapid growth, with a view to making money fast. The downside is that these providers take a stake in resident companies, in exchange for the service. It is something that virtual and serviced facilities do not do, so consider this when making your decision.
Virtual offices are becoming increasingly popular with entrepreneurs. They are one of the most economical ways to launch a business because the cost of utility and maintenance is spread evenly across all tenants. While you do have to share a communal environment, there are enough resources (internet, telephone lines, printing equipment, etc.) for everybody and full back office support on-site.
With cloud computing, smartphones, and file sharing software, it is possible to lead a small team from a rented desk. Eventually, most companies do end up needing a more robust system, but it is a cost-effective way to launch. Freelancers and independent contractors are used to working remotely, so they know how to keep productivity levels high. All you have to do is use the resources in your virtual facility to supervise, manage, direct, and coordinate.
Now it is evident why long term contracts and rigid rental conditions are to be avoided; you can start broadening your options. Flexible contracts are available in some surprisingly prestigious locations. For instance, the PwC Tower and the Vero Centre, in Auckland, are in two of the most high-profile business districts. They are both home to virtual and serviced facilities, which offer affordable rates and addresses guaranteed to excite investors.
The thing to remember about starting a business is that enterprises do not fail because they experience hard times. They fail because they are not equipped to deal with them. Picking the right office is a big part of preparing yourself for the future.
You do not need the biggest, most lavish suite on the block to flourish. Nor do you need to cram your team into a tiny space in order to save cash. The key to success is balance. Invest in flexible office solutions, and you will have the power to make important decisions faster.