In the UK, two regions contain a third of all businesses within the country. Unsurprisingly, London is one of these two regions. With 1,062 million total businesses, London takes up no small portion of businesses in the UK. However, not all businesses come in the same size. Today, out of the 1,062 million businesses in London, 1,061 million are SMEs – small and medium enterprises containing less than 250 employees. With SME businesses taking up such a huge portion of all enterprises in London, it can be difficult to find a space for your company. This time, we’re going to help you with considerations every small and medium enterprise should consider when picking a new home.
Here are some of our favorite spaces right now:
Located in the heart of Clerkenwell and close to both Farringdon and the City of London, WorkPad’s new office space location is the perfect location for a SME in London looking to find a new home. With nine separate private offices to rent, whether your team is in the middle of growing or is stable, there’s a place for you and your team in this boutique style office space.
Private office options starts at £2,700/month
The City of London is home to an enormous portion of London’s financial companies. For SME businesses in this field, Finsbury Circus is an excellent choice. Not only does this office space offer amenities including 24/7 access, unlimited refreshments, breakout space, and bookable meeting rooms, but the office itself is located close by London’s deluxe food places for your work lunches and afterwork time. Options for rent include private offices of 2 seats to over 50 to fit a team of any size.
Private office for 2 starts at £950/month
Hip and modern but with a taste of the old school, TOG’s Albert House describes itself as quirky and bright. Built specifically to ensure easy collaboration, teams settling here will find plenty of coworking space to choose from, but still with enough space to ensure privacy when needed.
Hot desks at £350/month, Private office choices starting at £3,000/month
Located a short walk from three separate transportation links, this office space in Shoreditch is easily accessible and comes with breakout space, cleaning services, and tea and coffee facilities, to name just a few. With sofas meant for comfort, a kitchen, and a bright, roomy interior, working at the Bonhill Building is just like working from home. Plus, there’s weekly TED talks, if your team is into that sort of thing.
Fixed desks rental rates at £350/month
Today, bleary old offices just aren’t cutting it, and the Headspace Group knew this when they designed their Farringdon location. This office space has a lively interior boasting a unique aesthetic meant to stimulate creativity and make working an enjoyable thing, instead of just something you do every day. For SMEs who want a space that bolsters creativity and inspiration, Headspace – Farringdon is the spot to look at.
Fixed desks starts at £350/month, Private offices rates start at £4,400/month
When it comes to getting the full experience, Mindspace is a unique office space that offers a program letting SMEs experience a full day working in their office before deciding, ensuring that the space is perfect for you and your team. With its artistic and classy interior, SMEs in the creative industries will find a space that inspires the people working inside.
Private office for 2 starts at £1,250 per month, plus additional private office options for teams up to 100
Located a mere two minutes away from London’s Borough station, this flexible workspace comes with enough space to be customised to the needs of any SME. There’s breakout space, private meeting rooms, and lounges ready for use. Take advantage of Hubble’s exclusive discount too, for access to a 28 person private office ready to be personalised to the specifications of your team.
Exclusive 28 person private office offer at £8,850/month
Ever wanted to work with a breathtaking view of the water? WeWork’s Tower Bridge location is right by the River Thames, offering the unmatched aesthetics of views across city and water. The space itself is a coworking space located within one of London’s historic buildings and offers relaxing breakout spaces on the balconies overlooking the river. With easy transportation through London’s Tower Hill and Tower Gateway stations, this office space is luxurious and prestigious.
Hot desk options start at £450/month
Open-plan, serviced, and accessible. These are the words Workhouse One uses to describe itself. The office space is open and wide, offering a unique design that takes advantage of natural light to create a bright and airy aesthetic. With an exclusive offer of a 20% discount off the first three months of rent, Workhouse One is a excellent option for any SME looking for a new place right now.
Hot desks pricing at £195/month, with additional rental options for fixed desks and private offices for teams of 8 to 18
Perfect for micro businesses with only a few team members, this office space offers a homey coworking interior that’s reminiscent of your own neighbourhood. It’s well-connected, located mere moments from the London Field station, and offers countless amenities including drink services, printing, and breakout space. There are also events hosted here every week, allowing you and your team to be part of a wider community. Plus, it’s dog-friendly, for all you canine lovers out there.
Private rates at £2,100/month, with an exclusive offer for 20% off the first two months
How much space do you need?
When it comes to picking office space, this basic question is nevertheless one of the most crucial, especially for smaller businesses. The space that a team requires to operate will depend heavily on what your operational needs are and if you are looking to expand in the future. Consider these questions:
- Is your business looking to grow in the next six months?
- Do you have enough space to fit your team?
- Is there any unused space in your office?
Utilising space properly is key to keeping costs low. Whether your team is a micro business with less than ten total members, or a medium enterprise with a team of thirty-five, making use of all your space is crucial. If you aren’t looking to expand your team and have space that is not being used, considering downsizing instead. Likewise, properly forecasting company growth will save you trouble down the line when it comes to having enough space to fit everyone while also having flexible workspace for collaboration.
Choose a location that will serve you and your team
In London, different neighbourhoods will serve small and medium enterprises of different industries. Companies that move closer to their market will find a number of benefits. These areas are hotbeds for networking and collaborating with like-minded businesses. Similarly, a location in an area rich with similar companies will help situate you and your team within the community, opening doors to larger customer pools, specialised workers valuable to your team, and the ability to build prestige.
Another consideration for location is to keep it within easy access to key members of your team. Finding a location too far from access might encourage team members to look elsewhere for work. Office spaces within walking distance to the tube, access to cheap or free parking, or even close to neighbourhoods can be beneficial for getting your team to work.
SMEs make up almost all companies within London, ranging from micro businesses to small and medium enterprises of up to 250 employees. All of these companies need homes that fit their unique needs. At Hubble, we help connect SMEs with their new homes through our search platform hosting countless unique office spaces in London. All you have to do is take advantage of it to find a new home for your team.