The shared office idea has been around since the early 90s. It involves various business people coming together in one environment for mutual benefit and to save on costs and expenses. Shared office space is similar but as the name suggests, it doesn’t just involve businesses, but also freelancers and design companies. This makes it great for smaller companies who want to keep their costs down while not compromising on quality. The benefits of shared office spaces are the following.

Low cost

Businesses are looking for low-cost and efficient ways to save money. Shared office space offers both of these. Unlike traditional offices, shared offices provide the option of working out of home, at home, or in a hybrid work environment. Allowing you to save on the mobile and conference costs while still being able to work in your environment.

Versatility

Shared office spaces can be used by a variety of businesses – design companies, marketing companies, IT companies, and many more. The versatility of shared office space means that businesses can be flexible, ensuring they will be able to use their own home in the way they need to.

Flexible lease options

You don’t need to commit to fixed terms – you only pay for the time your business needs (the initial rental period or a monthly fee). This makes it much easier to make the move from your own office on a long-term basis. Shared office space in Sydney CBD has different lease options from one month to five years.

Sustainable and long term rental agreements

Shared offices are looking to break the chain of short-term leases, which are common with traditional offices. Businesses know they can settle in and grow with their new shared office space. The commitment they make can be as low as one month or as high as five years, depending on the length of the agreement. This means you can have a sustainable lease that is low-cost and flexible for your business.

Good rapport with the local community

Shared offices are part of a larger community, which makes them very appealing to local businesses. Businesses can get involved in the local community and use shared office space as a platform to reach out and make new contacts, which will work well for their business.

Increased productivity

How you work has changed a lot over the last 10 years with more flexible working hours and increased opportunity to work remotely. It’s important to find an office that suits your business and know that you can be as productive as you need to be. Shared office spaces are a great option for businesses looking for a space that is both functional and flexible.

Having a shared office space is the perfect solution for your business. The savings on costs and relocation saves you money in the long term. It is important to find a space that is right for your business and takes into account the type of business you are running. Shared office space can offer businesses everything they need in one location, at an affordable price.