The Benefits of Renting an Office Space for Your Business

Over the past three years in the UK, the number of people working from home has gone from 1.54 million to 23.9 million according to Analysis conducted by finder.com. In many ways, people have found working from home has had many benefits, from developing a better work-life balance, saving money on travel and feeling more productive.

Despite this, many people also couldn’t wait to get back to the office as is shown by a study conducted by Prolific in January and February 2021. Their findings show that 21% of people rarely or never wanted to work from home again. 

In this article, we will consider the importance of office spaces to your staff and why they are beneficial to your business.

Benefits of serviced office space

Services offices are spaces that come fully kitted out and ready for you to move into and get working straight away.  Each serviced office will offer different amenities and services, but for the most part, internet and desk space should come as part of the package deal. 

Here are some other potential benefits of renting a serviced office space:

  1. Additional office perks such as kitchens, breakout and recreational areas and coffee machines
  2. No move in time as important furnishings are already set up 
  3. Building maintenance and cleaning services included
  4. Receptionist
  5. Security staff
  6. Meeting and conference rooms

Benefits of renting office space

So, we’ve considered the benefits of renting a serviced office space from a user perspective, but what is the benefit as a business owner? 

Cost-effective

Renting can provide a more cost-effective option for businesses, from start-ups to established companies. With no large upfront and additional costs such as maintenance and cleaning being taken care of by your landlord, you can focus on putting money back into your business rather than on extra expenses.

Work within prime locations

Renting office space means you can place yourself wherever you need to be the most. Develop your business in a city that it will thrive in, in an area that your staff will find easiest to commute to, or in a space that matches your company's values. Enjoy bustling cities or calmer towns - whatever works for you; you can find an office that suits your needs.

Flexible lease agreements

When renting your office space, contracts can differ in length. From monthly pay-as-you-go to 12-month contracts, renting gives you the freedom to move more frequently depending on your needs or financial situation. 

Professional image

Having an office space helps to develop a professional image for your company. Whether you’re hosting a meeting with prospective or current clients or setting expectations for potential and current staff, renting an office can be a great way to show your business is legitimate.

Benefits of flexible office space

Flexible office space is an excellent option for companies who want the comfort of a hub for their business and staff, without the long-term commitment serviced offices can come with. These styles of offices can range from coworking spaces to serviced offices. Consequently, you could be sharing your space with other businesses, but this alone can have its benefits. 

Here are a few of the benefits of flexible office space.

  1. Sharing office space encourages networking and collaboration
  2. Fully equipped and maintained, just as a serviced office would be 
  3. You can scale up and down easily, meaning it’s a perfect option for growing businesses
  4. An affordable option that can help you base yourself in more expensive areas or have more money to invest back into the company
  5. Flexible leases mean you can stay for as long or as little as you need

RELATED: Everything You Need To Know About Flexible Office Space 

Why office space is important 

Renting an office isn’t just good for business,  it’s also great for your staff - here are some reasons why.

Communication

Working with your employees means collaboration. Working from home puts a wall between people and makes it harder to reach over to your neighbour and ask a quick question. Instead, employees are often more inclined to put in for meetings and calls to ask simple questions, adding additional steps and wasting time on a simple task. Whether you’ve been in business for years or you’re a new starter, being able to develop a rapport with your employees is key to a positive working environment. 

Not to forget, working from home can be very isolating. Being able to see another face during the day can be refreshing and motivating in itself. If members of your staff are working alone from home all week, it may affect morale and mental health, whilst also impacting work performance. 

Professional development

Working in an office, you are more likely to strike up a conversation in the kitchen or the lift with a range of people within your office, creating accidental but useful networking opportunities. Having contacts across departments and knowing a few more friendly faces around the building can be a great asset when you have questions. 

Asking questions over email can be tedious, and if you’re the type of learner who benefits from being shown solutions, you may be reluctant to ask for help at all when working from home. Offices support collaboration and allow skills to develop, enhancing your teams' capabilities. 

Additionally, for new starters with little experience in their new role, working from home can often feel like being thrown into the deep end. Watching someone more experienced can help hugely in learning new processes and procedures within a company, whilst also allowing them to feel more confident asking questions by putting a friendly face to a name. 

Equal workspace opportunities and conditions

Working from home can often leave staff with additional responsibilities such as caring for family, poor internet, lack of available workspace, or being interrupted frequently by general home life hustle and bustle. 

Having an office space allows all staff to work under the same conditions. Therefore, it allows them to take on more opportunities, rather than not being considered due to uncontrollable inconveniences that may hinder their ability to complete the job quickly and efficiently. 

Company Culture

Working from home, staff can often feel detached from the company and the values that underpin it.  Consequently, values can quickly go out of the window. 

Working in an office can help build company culture and encourage staff to work to your company's core principles. You may make time for staff to partake in team building activities during work hours, order everyone's food once a week for lunch or hold health and wellbeing sessions to encourage your values. This will have a knock-on effect on your staff, allowing them to feel more considered and appreciated. 

Additionally, you may find this opens doors when it comes to feedback. A happy workforce who feel heard are more likely to voice their concerns and opinions, which will only benefit you long term, allowing for development and progression from teams to departments or even company-wide.

RELATED: 5 Stages of Burnout While Working From Home

If your business is expanding or you’re ready to move offices, head to our website and find office spaces to rent across the UK and US. 

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Your complete business toolkit

Rovva puts everything you need for your business in one place. From an accountancy helpline to a drop-in business lounge - we've got everything covered.

Your complete business toolkit

Rovva puts everything you need for your business in one place. From an accountancy helpline to a drop-in business lounge - we've got everything covered.