Renting an office space or Buying it
Renting or buying is a big dilemma in businesses today, but when it comes to startups the wiser choice is to rent an office space. In today's economy there is nothing certain, businesses start and bankrupt every day and when the worst thing happens it's better to just be able to move out and not continue paying mortgage or taxes.
If you rent office space it will allow you more flexibility in case that your business grows. One way is to find shared offices for rent, which are more affordable and brings advantages in terms of the informal networking you can have with other businesses. One of the best places to rent office space is a business centre. This offers great conditions for starting businesses. Try avoiding renting in busy city centres which can put off your potential clients. A huge part of one's business nowadays is done through the internet so you don't have to choose an expensive location downtown - you can be located literally anywhere if your business doesn't require much face to face interaction. Today it is all about communication and this can be done quite successfully through the internet. If you cannot rent office space just yet, do not despair - some of the greatest businesses started from home. You can even register your company to your home address and hire people if you need. There are some good and bad sides about this - one of the good sides is the cost and convenience. You save quite a lot of money and you get to work from your home, not worrying about extra bills, cleanness or renovation. The disadvantage is the way this work space will present your business. Your professional image is a lot, especially in the beginning, so it can be hard proving that you are serious by working from home. A big disadvantage is that it will always feel like you are at work, and this will inevitably cause problems - it can be hard to separate your personal life from your work self. Working from home can hinder your work sometimes and it is quite distracting too.
Renting an office space doesn't have to be that expensive - you can find a small place, big enough for you or your team and get ready for potential meetings and presentations. It is always better to have a place outside of home when it comes to work. Your office will shortly become the symbol of your business so make sure it represents it well.
With the recession in the past few years, it has been proved that renting is much safer than buying. Once you earn enough and consider your success quite certain you can start thinking about buying. Owning the office space or a building will eventually mean you have a fixed address, you can make changes to the place and its selling price will rise. Some people say that renting is throwing money away, but for smaller businesses it is the best thing to do. Once you have made your choice, talk to the owners about any changes you are allowed to make to the place. If you want a business atmosphere you need to make a few changes so it matches your company's profile and needs. Renting is a good option when you want to move in fast - closing a deal can be made in a few hours and moving in - in a couple of days. Buying has its benefits, but renting will always remain a much safer solution.