Friday 11 November 2011
In these times of austerity looking for business premises may not be the number one priority for early stage and home based businesses. I have recently been thinking how to assist such young companies in the best possible way, the conclusion I keep coming back to is professional business space and the opportunities it brings. With my consumer hat on I ask myself the question, does the address of the company I am looking to do business really matter? How does my decision making process differ if one business operates from a home address and another a dedicated business address? The answer is quite simple – the professional business address carries much more credibility, it instils confidence in the consumer.
This brings me back to my original question and my role as an innovation centre manager, in that how can I assist young companies in ensuring they aren’t losing business and missing out on opportunities? If I myself have a preference towards a professional business addresses then many more will I am sure.
The problem many young businesses face is that when they start to think about renting office space they immediately think of high cost buildings, expensive services and long term leases. They also think about sitting in a box room in a large office block isolated from the outside world, at least at home they have their creature comforts. Working at home has other drawbacks such as constant interruptions and distractions such at the TV, kids and the fridge. Personal security also needs to be considered, do young companies really want their customers to know where they live?
The nuts and bolts of the matter however will always be affordability and that is why the new wave of shared office concepts is becoming very popular with early stage business. The concept is simple, an innovation centre allocates a large office and installs around a dozen or so workstations complete with telephone and high speed broadband access. The major benefit in doing so is that the rental is significantly lower than a dedicated office that a more mature business may have graduated to. Typically for £35 a week early stage businesses can enjoy 24/7 access, unlimited broadband usage, telephone line rental, desk, office chair and incoming telephone call and mail handling. In innovation centres such as the one I manage the fee also includes all business rates, utility charges and city centre parking. Superseding all these benefits however is the constant opportunity to interact and network with the other businesses in the room, this is something that the home based business deprive themselves of on a day to day basis.
So why should you consider sharing your office and is the additional cost really worth it?
One. The innovation centre provides the professionalism of a business address. First impressions mean everything in business and customers will be impressed by the atmosphere, reception meet and greet service and your businesses corporate image. A professional image means that your business will grow.
Two. Professional communication. Have you ever wished you had a receptionist answering and screening your incoming calls with your company name, and announcing them through to your extension? Again, a professional image means that your business will grow.
Three. Cost control. Innovation centres and the shared office provision they provide ensures that you know exactly what you will be spending each month. No more unexpected utility or internet bills as all customers share the overheads as part of the monthly fee. There are also no long term tie in’s to leases as incubation centres tend to operate flexible month to month licence plans. Controlling costs means that your business will grow.
Four. On demand conferencing. Modern, comfortable meeting rooms in which to impress clients and prospective customers is a must for young businesses. Forget the days of meeting in hotel lobbies and motorway service stations, the facilities you require are right on your doorstep. Most innovation centres will offer discounts to resident companies. Again, a professional image means that your business will grow.
Five. Networking. As I discussed previously this I believe is the number one reason that moving from your home office is the best decision you will ever make. Network without even realising it when you have your desk in a shared office environment. Many innovation centres organise networking events that are free to residents. A business that is visible and networks will be a growing business.
The answer to my last question is undoubtedly yes. As a home based early stage business you should consider a shared office environment and yes the additional cost will totally be worth it.
To find out more about the flexibility, affordability and opportunities to relocate to a shared office environment please contact me, g.scargill@oxin.co.uk , telephone 01226 720700 or visit www.barnsleydmc.co.uk/the_studio and www.barnsleydmc.co.uk/testimonials
Gareth Scargill
November 2011
