5 Types Of Office Spaces For Start-Ups And Small Businesses

Choosing the best office space isn’t an easy task. 

Typically, start-ups and small businesses operate on shoestring budgets. For this reason, they need a cost-effective office solution (which is a challenging endeavour as office space is typically an expensive investment in Australia).

Furthermore, many other vital elements need to be considered when renting an office, such as the square footage, amenities, parking included, the visibility of the location, and more. 

No matter what office space they choose, business owners should be aware that the office significantly impacts their eventual success (because the office reflects a business’s identity and image).

5 Types Of Offices For Start-Ups And Small Businesses

     1. Home office

Thanks to fast-changing technology, it is now possible for people to work entirely from the comfort of their home. Setting up a home office is also the cheapest option available for start-ups. The problem is that a home office comes off as unprofessional (meeting important clients or investors at home is not beneficial for a business’s reputation). In addition, a home office does not protect business owners’ privacy. 

     2. Coworking space

Coworking spaces are offices where people work independently on different projects. Coworking spaces offer a wealth of benefits for start-ups and small businesses, including low rates, networking opportunities, and office equipment. Coworking spaces are an excellent choice for companies looking for temporary office space for team meetings and brainstorming sessions (because they typically tend to be crowded, so people find it challenging to stay focused on their assignments). 

     3. Virtual office

Virtual offices are an excellent solution for online businesses looking for cost-effective office space. A virtual office is the most affordable type of professional, fully-equipped office space. For example, start-ups can access professional offices in Melbourne – which is well-known for being one of the most expensive cities in Australia – for a price as low as $100 per month. A virtual office enables businesses to work remotely while providing them with all the necessary tools and services to build a professional image and solid reputation.   

     4. Serviced office

Serviced offices are similar to traditional offices. The only difference is that companies can access them on a short-term basis without buying or renting the premises. Serviced offices are fully furnished and fully equipped and have lower costs than traditional leases. They are an excellent office solution for companies looking for office space for a limited period (for example, pop-up offices or companies working on short-term projects).

     5. Rental office

An office rental is a traditional way a start-up can gain access to professional office space (and personalise it to reflect the company’s culture). A brick-and-mortar office is an excellent solution for businesses looking for full control over the office environment. The problem is that traditional offices are too expensive in Australia. In addition, many start-ups do not even need permanent office space as they can implement remote or hybrid work policies.       

Conclusion: There are many office spaces available for start-ups and small businesses. 

Of course, there is no “wrong” or “right” office space – choosing an office depends on the business model and key factors such as location and accessibility, price, technology and infrastructure, layout, and business contingency plan. 

Hopefully, this short guide will help entrepreneurs make a great decision for their businesses and get the office space that fits them best.   

Images source: unsplash.com