Why A Serviced Office Is Perfect For Your Business

Why A Serviced Office Is Perfect For Your Business

They've been called "the office of the future." But in the present, small businesses around the world are choosing to set up their operations in serviced offices and co-working facilities instead of conventional office buildings. And Nigerian businesses are not far behind those forward-thinking foreign organisations, with more serviced offices and co-working spaces opening and being leased across the country.

Why are serviced offices the new craze? What's so special about them? Should you take them seriously?

Here are five reasons why you should consider running your small business from a serviced office:

1. Affordability.

Have you tried renting an office space lately? In Lagos, for example, annual office rent in prime locations such as Lekki can cost way over 5,000,000 naira. And that figure does not include furnishing, office equipment and utilities. Added up, the total expense won't make sense for the average small business. In contrast, serviced offices can often be leased for an all-inclusive monthly rent that covers office space, furniture and utilities. Businesses also have paid or free access to facilities such as boardrooms and meeting rooms. In addition, serviced offices come in varying sizes so businesses can rent based on their staff strength and save money.

2. Flexible payment options.

Conventional offices in Nigeria are typically rented annually. Serviced office providers such as Venia Business Hub allow businesses rent their spaces monthly or annually. This takes a lot of financial pressure off small businesses that otherwise would have had to stretch their accounts to rent a conventional office for a year.

3. Low operational liability.

Running your small business from a serviced office means you will not have to invest in most of the assets a conventional office would require. This reduces the liability that comes with owning such fixed assets.

4. Business support services.

While this feature is not yet common in Nigerian serviced offices, one or two offer some sort of support service to help member businesses grow. Venia Business Hub's entrepreneur support community is an example, providing businesses with resources through online and offline channels.

5. Opportunities for networking.

Unlike a conventional office which usually houses one business, serviced offices are a home to diverse businesses. Such an environment offers many opportunities for networking and collaboration between businesses, with some serviced office providers initiating meetings between member businesses by hosting networking events.

With the current economic recession and end-of-year discounts on workspaces, this is a great time to move your business into a serviced office and save a lot of money.

Full disclosure: MARGIN is designed by Venia Business Hub.

Would you like to run your business from a serviced office? Send a message to hello@margin.ng and we'll get you a special one-month discount on an office at Venia Business Hub.

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