In an era where things like car-sharing and couchsurfing are all the norm, you probably have heard of shared offices, too. It’s not a new concept. The idea of having a shared office workspace can bring to mind many benefits – from cost savings to increased efficiency.
Shared offices are the future not just in Singapore, but also around the world. And for good reason. For businesses, incorporating this kind of working arrangement can result in better productivity. For employees, freelancers and the likes, such a working environment can be inspiring and make work more enjoyable.
What exactly is a shared office?
Shared offices are locations that allow two or more businesses to operate within, and are sometimes known as co-working spaces or serviced offices. Within these shared office workspaces are workstations or designated areas for remote employees, freelancers, or basically anyone who needs an office space to conduct work or business. As such, the cost of maintaining the shared office space will be split among its users. They typically include rental, utilities and other overheads.
For more shared offices in Singapore, the rental terms and accessibility are usually agreed upon between the host and the parties who wish to share the space. Most of the time, the shared office space will come fully furnished and equipped with business amenities such as wireless internet, phone lines, printers and more.
Shared offices vs. co-working spaces
While both are pretty similar in the way they are being used, shared offices usually refer to a part of a large space that is rented out to another business. Office sharing is, therefore, an arrangement between two or more companies to operate within a commercial area. The space is usually private and lockable with a space that businesses can call their own. Such spaces are popular with smaller companies like start-ups or regional offices to save cost without having to lease an entire space which they may not need.
On the other hand, co-working spaces typically refer to workstations or hotdesks rented to anyone who does not require a central office – one space for one individual. While offering similar business amenities such as usage of private conference rooms and equipment, they are typically out in the open. These are highly suitable for digital nomads or people who need a private space away from home to work.
At Arcc Spaces, our serviced office solutions include private shared offices and co-working spaces in Singapore and across the globe to cater to a diverse range of business needs.
Benefits of sharing an office space in Singapore
Shared office spaces have revolutionised the way people work, giving us the ability to work wherever and whenever. Companies who share an office in Singapore enjoy a multitude of benefits, such as:
1. Increased productivity
Most shared offices and co-working spaces are optimised for productivity. They are designed to house businesses and people with diverse working styles, by providing different settings, facilities and furniture that can be tailored to individual needs. Working in an environment that is made for serious work also allows you to focus better. This is unlike working at home where there may be distractions.
2. More networking opportunities
One of the biggest differences between a traditional and modern shared office workspace is the networking and collaborating opportunities. At a shared office space in Singapore, you’ll likely find business people and organisations working alongside each other. These people could be the ones to spark off your next big idea.
Many co-working spaces also hold networking events or workshops that can help forge new connections and business partnerships.
3. Encourage flexible work
Unlike traditional office cubicles that can be cold and impersonal, modern shared offices today are decked out in bright colours, open-concept seatings, glass-walled meeting rooms and communal lounges. On top of facilitating a more social atmosphere, they make it easy for people to choose how and where they want to work. Need a quieter space to think and hold small discussions? Just grab your laptop and move to a small private pod that helps you brainstorm better.
4. Create structure
For those who have been switching between working from home and in the office, it can be hard to find a structure that sticks. Co-working spaces provide a distinction between your home and work environment, offering better work-life balance. By drawing a line between, you can look forward to returning home after a productive day at work.
5. Enable cost savings
Needless to say, sharing an office space allows companies to save on unnecessary costs and only pay for what is being used. Services such as pantry cleaning, printer maintenance or phone services can add up to a hefty amount in Singapore, but these perks are usually included in a coworking agreement. Shared office spaces are also not subject to the long rental periods, unlike traditional offices. These factors can be especially helpful for smaller businesses as they reduce the pressure of long-term commitments.
6. Increase creativity
When working alongside like-minded people, it is easier to acquire additional knowledge and ideas that can give you a creative boost to go towards your next project. Modern shared offices not only inspire – they completely change the way you feel, think, work and engage with others.
Choosing the right shared office space
In the ever-changing world of business, it is important to stay flexible and ready to transform at short notice. Before you decide on an office, be sure to review the office amenities to ensure that your business needs are met adequately. For example, if you foresee yourself hosting a few business gatherings every month, look for an office space that offers event spaces and related facilities. At Arcc Spaces, there is even a dedicated community management team to ensure that your event goes smoothly.
Consider the location of your shared office space – are your team members living at both ends of Singapore? Then an office in the central region would be convenient for everyone. And if you require some privacy, look for a private shared office or one that allows you frequent access to a meeting room.
Looking for an office space but still feeling unsure? Arcc Spaces offer one of the most comprehensive serviced office solutions that cater to any types of businesses or working needs. Speak to us today to find out more.