The Financial Benefits of Serviced Offices

by Caleb James on 4 Sep, 2012

Serviced and virtual office spaces bring a number of advantages that make many company owners choose this option over the selection of traditional office purchase. The financial benefits are one of the factors that determine the popularity of virtual and serviced offices.

Some Facts and Figures

According to the Global Serviced Office Review 2011, there are over 80 million feet of serviced office space available across the globe. The serviced offices in London represent eight per cent of the global figure.

A total of 1,431 cities in 101 countries have serviced office spaces available. The size of the London serviced office space market totals the combined markets of Tokyo, Sydney, New York, Paris and Hong Kong.

Some studies show that the virtual office market is also seeing increased demand, particularly because company owners are beginning to understand the costs connected to maintaining an office. A trend towards freelance work and self-employment is also pushing many individuals who look for quick and practical solutions to search offices to rent from or other similar websites.

Financial Benefits of Serviced Offices

The cost and the additional financial benefits increase the popularity of both virtual and serviced offices.

Most companies appreciate serviced offices because they decrease work-related expenditure. A serviced office comes with various facilities including a secretary desk, photocopying options, security and a reception. The company will be free from paying more for such necessities because they are part of the contract.

A serviced office is equipped with furniture, telecommunications devices and IT infrastructure. Companies will be saving on these aspects of the business process, as well.

Additional money saving opportunities will stem from the availability of maintenance, repair work and cleaning that are included in the serviced office agreement.

Financial Benefits of Virtual Offices

Virtual offices are another tremendous money-saving option. Both small companies and larger corporations are starting to understand the benefits and the prestige connected to having a virtual office.

The virtual office enables corporate presence in a reputable part of town without costing as much as the rent of a traditional office. A virtual office will also be connected to smaller utility bills, which will otherwise accumulate to significant amounts.

In the case of having a virtual office, the company owner will be paying solely for the services that are used. These may include mail handling or having a receptionist to deal with calls on the company’s behalf. This characteristic makes the virtual office even more affordable than the serviced office space.

Many consider virtual and serviced offices the trend of the future. They are here to stay and more companies will soon understand the benefits. Having this type of office space is both affordable and beneficial for the growth and success of a company.

About the Author

Caleb James

Caleb James is a financial advisor and journalist, who contributes regularly to financial blogs and industry publications.