July 5, 2017
The ability to rent a small office space is not strictly reserved for established businesses. In fact, entrepreneurs can benefit in many ways from working out of a commercial facility. A business centre will provide your startup with a professional image and productive work environment. These two factors are both advantageous and crucial to have in the early stages of starting a new business. Below are some useful tips on how you can prepare your startup for success and learn more about how renting a small office can help.
Starting a new business is a challenge and not for those who want a quick, easy, high-profit enterprise from Day One. Once you establish your idea, you must dedicate your time, energy, and money to help it flourish and prosper. Regardless of the size, your startup can survive the competitive business landscape if you follow a few key strategies:
Once you have made the right preparations for your new venture, you will need to find an office to work from. Of the many available options, renting a Coworking space seems to be the right decision for most startups. Here are a few reasons why renting a small office is an ideal place to grow your startup:
At the start of business, nearly all startups go through a tough period before they can break-even and become profitable. At this stage, it is important to manage your expenses carefully. Renting a traditional commercial office space often requires signing a long-term lease (typically 5 years). A deposit is also generally required. Such a commitment would place enormous strain on a startup even before they can generate cash flow.
A coworking space, on the other hand, offers a more lenient payment plan – more like a club membership. Depending on the particular provider, you can rent a convenient coworking space in Toronto by the month, weekly, hourly and even pay as you go basis. This arrangement is ideal for most startups which cannot afford the high upfront costs of a long-term lease. You are only required to pay for the space and service you need.
One key advantage of renting a coworking space is that it helps you avoid all the costs of setting up an office such as furniture, décor and utilities. At Officescape, we have fully furnished meeting rooms, reception area and break rooms to provide a conducive environment to you, your guests and/or your employees. We also provide Wi-Fi, administrative support and 24/7 office access.
First impressions are critical. As a small business, you need to project an image of professionalism to clients (prospective and current) as well as to prospective employees and partners. By renting a properly furnished and equipped office, guests will take note of your professionalism and be more compelled to work with you. Additionally, having a professional mailing address and business location will boost your credibility.
As a startup, you need to constantly network with other like-minded businesses and grow your contacts. A coworking space gives you the chance to meet other startup businesses who could be prospective clients, mentors or partners. Mingling with other business owners who can put in a good word for you is a more effective and affordable means of marketing. This help goes both ways.
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