Renting a dedicated physical office space can be costly, even more so in a city like Singapore. In fact, The Garden City is ranked in fact the 14th most expensive place for commercial rental in the world, ahead of the likes of London and downtown New York.
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Coworking Office For Rent – Foundation of Your Business Strategy
More companies are seeing the benefits of shared office space for rent. Read on to find out why coworking spaces have a place in business strategies today.
Ideas
The perception of an office space has evolved tremendously, especially during COVID-19 where individuals around the world are forced to work from home.
As the pandemic subsides and the world gradually returns to the office, today’s modern workplace is no longer a 9-5 office space with cubicles. The workforce has become more mobile, with many working anywhere from offices for rent to coworking spaces.
With infrastructure that supports collaboration and creativity, we believe that coworking offices are here to stay and they will play a key role in growing your business. Here are five reasons why.
A complete remote work regime is not possible in the long-run
While remote working offers a lot of flexibility, it has its downsides as well. One of the biggest drawbacks is the lack of social interaction. This can be especially challenging for business owners who rely on their teams to be creative and innovative during important activities such as team building, discussions, and brainstorming sessions. In the long run, isolated remote workers can cause teams to experience a decrease in morale, simply because they are not motivated enough to perform their best. This can have a detrimental impact on the company as a whole.
However, adopting a hybrid working format supported by spatial solutions can allow employees to be productive while also staying connected. To do so, businesses can make use of coworking spaces that offer tailor-made solutions. From virtual offices to private suites with flexible leases, there is a wide range of workspace options to choose from. Some of the best coworking space providers can also customise full-fledged hybrid working solutions for your team, with a good mix of spatial and hardware solutions.
With proper support, companies can easily create a hybrid working format that meets the needs of their employees, greatly increasing their productivity levels.
Long–term leases are not practical in the New Normal
The COVID-19 pandemic serves as a stark reminder about the huge risks of having a long-term office lease. Companies around the world were forced to stay away from their offices for extensive periods, with many unable to break their ongoing leases.
Slowly, the world began to realise how remote working combined with occasional visits to the office can have greater benefits, such as increased interaction and productivity. This led to the rise in popularity of hybrid working and set the standards for the future of work. Flexible coworking spaces are ideal hybrid working solutions that can fulfil the needs of companies as the New Normal sets in.
An office suite in Arcc Spaces Centrepoint South, KL
Easier business expansion
No matter how successful your business is, there’s always room for growth. Expanding your company regionally or globally can be a great way to increase profits and reach new markets. However, scouting for new grounds can be expensive and time-consuming.
If your company is already making use of flexible offices for rent, this is very beneficial. Coworking spaces tend to have multiple centres dispersed across a country or even the world. This helps to lay the foundation for a company to grow and expand easily. Businesses also do not have to allocate additional capital to set up or furnish the office as everything is provided. All that is needed is a discussion with the coworking space provider.
Sirius - The boardroom at Arcc Spaces One Marina Boulevard
High-quality facility and equipment support
A successful company with a sound business growth strategy may possess the best talent pool, but it cannot grow if there is no quality support for the talents to create their best work. The company must question and evaluate the facilities in their working environment:
- How conducive are the workspaces?
- Are there well-equipped meeting rooms that can support a seamless presentation?
- Is there a strong Wi-Fi system?
Fortunately, coworking spaces tend to have these covered. From modern meeting rooms to full-fledged business lounges, all these spaces are designed to support the company’s growth from the talents’ efforts.
A coworking environment promotes ample opportunities for new joint ventures and collaboration with like-minded businesspeople
A dynamic working environment
By taking steps to promote good mental health in the workplace, business owners can help their employees stay healthy and productive. While there are many factors that play into workplace happiness, creating a more stimulating environment is definitely one way to help.
Coworking spaces often create engaging opportunities such as events and talks that allow like-minded individuals to mingle and collaborate with one another. Even better, companies also have the chance to hold their own event conveniently and affordably. Through these valuable exposures, employees are happier and more bonded, which indirectly contributes to business growth.
Grow Your Business With Coworking Offices For Rent
As the world evolves, growth has become an increasingly complicated challenge for many businesses to achieve. However, there are many innovative solutions that can be tapped on and companies must be flexible enough to seize the opportunities. For example, as seen from above, including the coworking space as part of your strategy is a great way to help your business grow and rise to greater heights.
If you’re looking for a flexible office space to rent, be sure to consider Arcc Spaces, the leading coworking solutions provider in Singapore.
