Looking for a shared or private office? Read our guide to both
If you’re looking to relocate your business but are unsure of the type of office space to go for, Hubble can help. Let’s take a look at the relative merits of both shared and private office options.
Why choose a shared office?
Growth
For any start up, growth is a priority so you are probably looking for a workspace that won’t require a large upfront payment or long-term contract, as well as the flexibility to take on more space as you grow. Shared offices tend to operate on a rolling monthly contract basis, which covers all of your standard usage charges such as utility bills and insurance, allowing you to keep the cashflow firmly under control. It also allows for easier transition when scaling up or down as you probably won’t have to find yourself a new office but rather take on some extra desks in the same space.
Networking
One of the main reasons young companies choose a shared office is the opportunity it gives you to meet, mix and network with likeminded people. Not only can this save on marketing – word of mouth is the very best type of business development – but it dramatically increases collaboration opportunities, creating a real community spirit between shared office workers that benefits all.
Cooler
Let’s face it, unless you’ve got an enormous budget the chances are you’re going to be in a much cooler building and in a better part of town than if you were to opt for a private office. Add to this all of the perks that come with co-working such as free food/coffee, networking events and hot-desking and you’ve got a pretty irresistible combination for many an office manager.
Still private
Just because you opt for a shared office doesn’t mean you have to forgo your privacy completely. Most shared workspaces give you access to private office facilities such as meeting rooms and event space so you can discuss private matters undisturbed.
Why choose a private office?
Control
Having control over your workspace is one of the main attractions of opting for a private office, if done on a lease. You get to tailor the work environment to your exact specifications, deciding everything from signs, structure and storage space to the colour of the paint on the walls.
Privacy
If your business handles highly sensitive data or you have non-disclosure agreements with clients then a private office may suit you better. You’ll be able to talk freely with colleagues and won’t have some of the security issues surrounding the sharing of sensitive information, which could be as simple as printing a document using a shared printer without it falling into the wrong hands.
Focus
One possible downside of opting for a shared office is your employees may get distracted by all of the other things happening in the building – work related or otherwise. Maintaining concentration whilst there’s a party going on in the breakout space could be difficult, and you even run the risk that talented staff who are particularly open to mingling could be poached by other companies.
Gravitas
Even to this day there’s still a level of gravitas that accompanies having your own private office. It shows that you are in it for the long-haul and displays a level of confidence in your business that certain employees will be drawn to and reassured by.
Did you know that you can get a private office on a licence rather than a lease meaning a you’ll benefit from both the flexibility and privacy. Get in touch to find out more.
