A serviced office is a modern convenience for small or medium sized businesses that cannot afford to have their own building, or otherwise find it inconvenient to invest into one. Serviced offices are also known by flashier terms such as executive suites and an office business center. It is basically where a landlord owns a building and then rents office space to entrepreneurs who only need a few rooms.
A Singapore serviced office has many advantages over owning a separate building. Janitorial needs are taken care of by the landlord, and that is just the first benefit. Other amenities include a break room, access to high quality photocopier and printers, and even mail delivery in many cases. Sharing a break room or a kitchen with unrelated businesses might not sound attractive, but it is much cheaper than maintaining such facilities yourself. It is a choice between buying everything yourself, and renting space with all the benefits tacked onto the deal.
The biggest advantage of renting a serviced office is that it drastically reduces the needed capital to start a new business. Quality machinery can cost thousands of dollars, and it is much simpler to buy access to one. Entrepreneurs working out of their home often visit photocopying services, so there is really no difference. When a quality printout is needed, there is no shame in using someone else’s machine.
Serviced offices often have computers and equipment installed into the space, not to mention an attractive desk to sit in. The client who rents office space is spared a great deal of hauling and moving, and looks like a professional from day one. While it is possible to convert the corner of a home apartment into an office, consider how much noise and distractions reduce productivity. If a customer comes to visit, what will the see? If a business is set up in a serviced office, they will see professional surroundings. That same atmosphere might drive your own productivity.
Another advantage of a serviced office is that they are so flexible. A new business might begin with one office for the manager and a few employees, but as the business grows, it is only necessary to rent out more rooms. This arrangement is often known as a flex office. Serviced offices most certainly are flexible, and there is plenty of room to expand.
In spite of having to pay a monthly fee, so many things are taken care of. Owning a separate building means paying several utility bills, not to mention maintenance and any loans taken out on the lot. It truthfully can be much cheaper to rent space, and if it is no longer convenient to work in a particular serviced office, moving is a snap.