If your business is looking for a new home in Singapore then a good place to start is by deciding upon the type of office that will serve you best. It's no secret that here at NewOfficeAsia.com we are big fans of serviced offices and the convenience and cost effectiveness they provide but they're not the right choice for everyone and there are times when a traditional office space would actually be more practical. Here is a breakdown of some of the benefits of both serviced and non-serviced office space in Singapore, followed by our video presentation on the subject.
The benefits of serviced office space
Flexible service agreements
In the fast paced world of business it is not unusual for the needs of a tenant to change rapidly and this is where serviced offices come into their own. Want to expand at short notice? Not a problem. Need an additional meeting room for a couple of days? That's fine. Time to move on and find somewhere new? Just cancel your agreement. Whilst all serviced office centres in Singapore are different and you should always ensure you know the specifics of what you an and can't do under the terms of your lease agreement, the fact is that the majority of centers are both adaptable and willing to make any changes necessary in order to accommodate the needs of a tenant.
Prestigious locations
With such a high demand for office space in Singapore at the moment it can be hard to find an address that really reflects well on your business and that you can be truly proud of. Most serviced office centres are located at the heart of the city's CBD in some of the most prestigious and highly sought after office buildings in the world. With so many offices being bought up by large multi-national companies or by the office centres themselves, it can be hard finding a world class location for your business unless you go down the serviced route.
Networking potential
The very nature of serviced office centres is that they often play host to numerous companies under one roof who regularly share facilities such as kitchens, lounge areas and meeting rooms. This offers a huge potential for networking and making ties with other like-minded businesses or potential trading partners. It is worth investigating the other tenants who are resident in a centre whilst doing your research as the benefits of sharing with the right companies can be substantial.
Fast and low cost start-up
When setting up a new office a lot of time and money can be spent installing furniture, setting up IT systems and making sure catering and rest areas are provided but with serviced offices this is all done for you. Most serviced office centres are more or less ready for you to move in from the moment you sign on the dotted line and the money you save in making a running start and not having to pay for infrastructure normally out-weighs any savings made by opting for a traditional office space.
Admin and IT support
So you've finished setting up your new data network and as soon as the IT technicians go home everything grinds to a halt. With traditional office space it is your responsibility to keep all your systems up and running and that can be an expensive business but with serviced offices there are experts on hand round the clock to make sure everything is working as it should be and sorting out any issues as they arise. The benefits of in-house support staff can be found throughout the daily running of an office - from having a security guard on the door to having someone on hand with a spare cartridge when the printer runs out of ink. Why do it yourself when someone else can do it for you!
The benefits of traditional office space
No internal infrastructure
If your company has very specific requirements and a typical IT system or office layout are not suitable, the fact that traditional offices are often something of a blank canvas may well be an asset. You are free to set up your cabling and networking solutions exactly how you need them without any of the limitations imposed by existing hardware.
Cheaper in the long run
Whilst you can't beat serviced offices for short term value, there are times when you know your business will want to stay put for several years and in these situations a traditional office may make more sense. Due to the lack of facilities and minimal admin staff, rental rates can be considerably lower than the equivalent sized service office making them a tempting option for long term tenants who want to carve their own path.
Location flexibility
It is a fact that most serviced office centres are clustered around a few key areas of the city such as Raffles Place or the Central Business District and this makes perfect sense for the majority of companies who want to be at the heart of the action. There are occasions however when a company would actually be better served by positioning themselves somewhere other than the obvious locations, possibly needing to be near to a supplier or specific transport hub. In these situations traditional offices offer much greater flexibility as they can be established just about anywhere that there is enough floor space to accommodate the required staffing levels.