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With the cost of downtown Toronto office space in 2019 soaring to over $30 per square foot, it’s easy to see why businesses of any size may be challenged by the rise of fixed costs. Overhead can easily cut margins to the bone, yet other arrangements – working remotely, outsourcing, reducing executive office size to storage locker proportions – have obvious disadvantages. Shared office space is a solution that is sometimes overlooked by companies who wish to maintain a professional and exclusive presence. Yet today’s high-end shared office space allows for precisely the flexibility, autonomy and privacy that competitive companies desire.
What Is Shared Office Space?
If sharing an office space seems like a step down – much like taking on a roommate to reduce expenses, with all the potential incompatibility that entails – consider that well designed shared office spaces are not a cacophony of cubicles and clashing objectives. Quite the opposite: coworking spaces can provide an ideal working environment, with the obvious advantages of shared overhead and superior infrastructure that would be difficult, if not impossible, for many small businesses to maintain. In a nutshell, shared office space is adaptable to the needs of diverse clients, while providing scalability, flexibility and considerable perks.
Is Shared Office Space for Everyone?
While some employees would prefer to eliminate the commute and simply work from home, most entrepreneurs and executives are aware of the significant drawbacks of having a fragmented (or even non-existent) workplace culture. For those who want their teams to work collaboratively and productively with greater accountability, a physical office is the only answer – but costs, even in suburban locations, can be prohibitive. Shared office space provides a practical solution for many business types, from startups looking to gain a commercial foothold to well-established firms with ambitious expansion plans.
Advantages of Shared Office Space
When considering a shared office Toronto or shared office space Markham, it’s essential to look for the right working environment and options that are most conducive to your company’s needs. Shared office space Markham offers many benefits, including:
- Community: Avoid the isolation of a decentralized team and increase motivation and social engagement when staff work alongside other passionate entrepreneurs in a structured atmosphere
- Inspiration: Proximity to business professionals in both similar and differing industries can inspire synergies, ideas and opportunities that are only made possible by networking with an energized group of like-minded people
- Flexibility: Short term leases prevent tying up valuable resources and the stress of being locked into a space for an extended period, particularly for businesses that tend to expand or contract seasonally
- Infrastructure: All the essentials, from aesthetically pleasing furniture to technology to employee parking, are already provided
- Support: Administrative and operational tasks such as IT, reception and maintenance are available
- Choice: A variety of options, from ‘hot seat’ on-demand open concept workspace arrangements to dedicated desks and private office spaces, comfortable boardrooms and well-appointed meeting spaces can be arranged
- Productivity: Well managed shared office space Markham means less of the downtime that can occur in privately leased spaces due to occurrences such as breakdowns in equipment and tech
Turnkey Solutions for Shared Office Space Toronto
With no upfront fees, a variety of coworking plans to suit the needs of virtually any size business, and convenient short term rentals, it is no wonder that shared office space Markham has blossomed in recent years and continues to grow. For corporations looking for ways to encourage a stimulating team environment while remaining competitive and nimble, shared office space Markham is a viable and exciting option.
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