With SMEs and entrepreneurship culture booming, finding the right home for your business can be crucial to its survival. From ensuring that the space for your business aligns with your company values, to surrounding yourself with inspiring business leaders, if you strike gold with where you lay your laptop, you’ll see the benefits roll in. If you’re ready to make that leap and find your first office, we’ve put together some tips on what to look for when finding office space.
Look for: Agility
The culture of entrepreneurship is fast-paced and ever-changing, and renting office spaces should be able to keep up with that. Whether you’re a solo trader, entrepreneur, or a growing business, make sure to look for working environments that will be able to grow as you do, and that can offer flexible solutions in dynamic landscapes.
When starting, the needs of your business may not fit the confines of a traditional 9-5. If this is the case, seek out spaces that you can access when you need to, whether that be for a late-night overseas business cal, for the early-risers among us, or to allow for flexibility for family commitments.
Find an office space that empowers your business. In shared office spaces like the Plus X innovation hubs, the day-to-day maintenance of managing an office is taken off your hands. Things like recycling, water, internet, coffee, and cleaning are all managed for you so that you can focus on running your business. Fixed costs for workspace mean you can go at your own pace – and miss out on many surprise utility bills!
Look for: Innovation
Creativity seeks creativity. By immersing yourself in an environment filled with talent and innovation, you’ll feel more motivated and galvanised with your projects. Plus, there’s a boundless opportunity for support and connection with likeminded people who know just what it’s like to run a business.
When looking for your business space, you shouldn’t feel limited by its facilities. In our innovation hubs, you’ll gain access to our prototyping workshops and media suites without having to pay over the odds. So if you’ve been looking for a space where you can begin working on that life-changing product, grab photos on the go of your product or team, or want to make waves in the podcasting world, we can help you make that happen.
Innovation comes in many forms. It’s not just the people, but also the environment itself that can inspire. Renting a space for your business that looks the part can do wonders for your employee morale. When your team is inspired by the design of their workspace, they can be up to 33% happier, which in turn can lead to a more productive team.
Look for: Values
Ethical and sustainable values are fast becoming crucial for many small businesses, with a huge 86% of consumers saying that authenticity is a key factor when deciding what brands they like and buy into. When finding the right home for your business, look for an office space that aligns with your business’s ethos and outlook.
By renting a space for your business, you can bypass the hefty expense of investing in certain credentials if the existing culture does this for you. At Plus X, we build our spaces with wellness, health and sustainability in mind, in line with the WELL Building Standard.
Walking into a readymade culture that aligns with your ethos means that the difficulty in establishing kind practices and operations is taken off your shoulders. Look at the website and social media channels of your shortlisted workspaces to see if your values align – you’ll soon see if this is a place you’ll feel at home!
Look for: Progression
When choosing office space, ensure that the environment will encourage and nurture growth and development within your business. Find spaces that offer opportunity and knowledge to help you upskill, and immerse yourself around people you’re inspired by, who understand your business journey and can offer insights and support when you need them.
If you’re looking to disrupt your industry or be a pioneer in your field, find an office space that celebrates that. At Plus X, we offer a plethora of innovation programmes designed for businesses at every stage of their journey, to champion their strengths, encourage creativity and help them to grow. We also hold a number of events that help our community network, learn, and prioritise their health.
When starting out, it can be hard to accurately plan how much space you may need in one, three, or five years. Rather than getting locked into lengthy rental contracts, more and more small businesses are looking at shared office spaces. At Plus X, many of our members started out with just one or two hot desks, and over time, have made our dedicated office spaces their own – moving between the different sized studio offices as they grow!
Could Central Research Laboratory in West London be the right fit for your first office? Book a tour to see us in the flesh!