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The Advantages of Shared Office Space in Reducing Overhead Costs

February 5, 2018

Shared Office Space Offers Convenience, Flexibility, and Lower Overhead Costs

Notwithstanding their respective products/services, annual revenues, and marketplaces, most businesses in operation today will likely have at least one goal in common; finding ways to contain or reduce their overhead costs.  It almost goes without saying that this objective is magnified for sole proprietorships and small to medium-sized companies.

Such efforts can prove to be challenging, since overhead costs tend to be both fixed and required to support the profit-producing side of the business.  And while any slight cost-cutting measures could create the impression that steps are being taken to address this situation, it is only when substantial reductions/savings are achieved that an impact will be noticed.

Among the range of overhead costs facing a business, one area that might offer the ideal solution to budget-conscious owners is shared office space.  The expense of establishing and maintaining an office, whether in a home or a dedicated facility, can be significant as well as a strain on the bottom line; however, shared offices can drastically reduce those expenses while still providing the use of a physical workplace as needed, i.e. on demand.

Shared office space can provide business owners with a number of practical and financial benefits, especially in the case of start-up enterprises but also for those with established histories; these benefits can consist of the following:

  • Start-up ventures with plans for future growth/expansionLow overhead – furniture is in place and all utilities are up-and-running
  • Essential services such as printing, internet, and telephone are available
  • The availability of dedicated information technology (IT) support services
  • A secured workplace through the use of sophisticated entry/exit technology
  • Flexible leasing options, including short-term rentals and offices on demand
  • Access to conference rooms, an answering service, and postal/parcel services
  • Potential for networking, lead generation, and collaboration with other Professionals
  • A more convenient and centralized location to meet with clients, field staff, etc.

Some of the business settings best suited to shared office space and/or having offices on demand might include:

  • Start-up ventures with plans for future growth/expansion
  • Small businesses looking to reduce/lessen their operating costs
  • Business travellers who require temporary meeting or workspace
  • National/international companies who need a local-market presence
  • Remote staff for whom working from home is not convenient or possible
  • Companies in need of additional or separate space for special-project teams
  • Professionals transitioning from corporate positions to freelance/consulting roles

Indeed, shared office space can offer a range of opportunities for a variety of businesses and business professionals who want convenient, flexible, and full-service workspace and meeting space without some of the limitations and costs associated with more traditional leased or rental properties.

Virtual Office Space Provides a Viable Option for Small-Business Owners

In some instances, sole proprietors and small-business owners choose to work from their home address; this certainly offers a measure of personal convenience and efficiencies in their use of time, but it is often associated with efforts to restrict operating costs as well.

However, working remotely can have its disadvantages too, particularly as they relate to marketplace presence, postal and shipping services, and suitable space to meet with any clients, candidates, or suppliers.  Under these circumstances, business owners may want to consider the option of virtual office space which, as the name implies, is the operation of their company from a confirmed mailing address but without dedicated physical space.

Officescape Canada in Markham, Ontario can provide business owners with virtual office space, along with all essential support services, in a Class A commercial facility; some of the benefits that business owners can derive from a virtual office space setting would be:

  • An enhanced company image
  • A prestigious business address
  • A recognizable mailing address
  • A fully-dedicated telephone number
  • Professional telephone-answering services
  • Access to offices/meeting rooms on demand

For more information about Officescape Canada’s shared office space, virtual office space or offices on demand please go to our virtual office solutions page.

Looking to contain or reduce overhead costs for a start-up or an established business? Officescape Canada may have the ideal solution through our shared office space, virtual office space, or offices on demand facilities.  Call Officescape Canada in Markham today at 416-639-0407 or 1-866-219-8059 to speak with a consultant and determine which solution best suits your needs and business.

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