Office spaces are a big discussion for a company, especially in the early stages. They are the primary fixed overhead which is a huge expense for any company.
The location of the office is also key. You can’t have it too far away from the city centre where you don’t have access to MRTs or you are too far away from lucrative clients.
For a smaller enterprise and startups, cost is key and that can make or break a business.
Today we cover two types of offices that are prevalent in Singapore.
Conventional Office Spaces in Singapore
A conventional office space in Singapore is one where you generally get into a long term lease agreement with an owner. This is generally for a minimum period of 2 years.
Coming to the space, a conventional office space has almost zero furnishings and everything needs to be done by the lessee.
The initial capital outlay is big as this is not a plug and play situation. From buying tables to chairs, drawers and desks, it’s the responsibility of the lessee.
Office spaces generally are very expensive because they are customised. One advantage is the choice that a lessee has. With a conventional office space they can generally get an office space in any area.
The issue with conventional space is, you can get a space only for a certain number of employees. It doesn’t make sense if you have an employee count in single digits.
Another expenditure is the responsibility of having a receptionist, paying for housekeeping, maintenance (light installations, aircon servicing, plumbing works) infrastructure etc.
Serviced Offices in Singapore
Serviced offices or business centers are pre built office spaces split into rooms to accommodate many companies. Service offices are great for smaller teams and it’s also perfect for companies who want to be closer to the city center next to their potential clients.
Serviced offices are truly plug and play. They come built with infrastructure, a receptionist to handle your communication, a pantry and other ancillary things like copier machines and conference rooms that help run a business. When you move to a serviced office tomorrow, you can start working.
Rentals are generally a month to month and you don’t have to spend a lot of money on signing a lease or committing. So if something untoward happens to your business, then you can shut shop within a few days with no commitments.
Having clients over to your office will be a good thing because generally serviced offices are located in the top business centres in the central part of the city and it makes a very good first impression.
In the longer term, serviced offices might be slightly higher in terms of rental cost compared to a conventional office space.
This is what we’re here to change.
Read also: Cost of renting Serviced office in Singapore
How to save 30% on renting Serviced Offices
Serviced offices have a moving clientele, which means businesses might work for 5 to 6 months and move out. So for periods of time, they might not have anybody occupying their spaces.
Serviced offices are also very competitive, because as a business, there’s no barrier to entry. If you have a space, you can convert it into a shared office space and rent it out.
These are reasons enough for a serviced office business to one-up their competition and they mostly do it through advertising.
They run Facebook Ads, they print out posters and place it in coffee shops. They have meet-ups inviting people to their space. Advertising costs money and in Singapore, it’s expensive.
We felt that there’s a gap here.
Smaller businesses and startups need office spaces and serviced offices need clients. So we created a platform where we connect these businesses through simple emailing and referring.
So instead of serviced offices spending money on advertising to get customers, they can use that money to offer attractive discounts to startups and small businesses, through us.
How does this work
You reach out to us and tell us your needs. The size of your team, the area you are looking for, the amenities you need and most importantly your budget. We take into account all of the above and go through our database to find the right serviced offices.
Then we come up with a few options and take you through a tour, so you can see the offices for yourself and then pick the best among the lot.
The serviced offices that are there in our database are in the best parts of Singapore.
In Central we have spaces in Bugis, Orchard and Lavender.
In West, we have spaces in Buona Vista, Dover, West Coast, Jurong East.
In East, we have spaces in Changi Business Park, Tampines, Paya Lebar.
At SGOffices, we not only take care of your office needs, but also your business needs. So if you are just starting with your business and you need help with basic set up like incorporating your company or setting up a website or finding an accountant. We refer you to our vetted partners who can help you with those services.
Private offices start from $350 per person, per month. And you save up to 30% than renting conventional offices.
For up and coming businesses it makes sense to get serviced offices because of their location, amenities, services offered and hassle free process.
This is perfect for a solo entrepreneur or even a 3 to 4 person team. There is one underrated aspect of shared offices and that is the opportunity to network.
With continuous events being run and ample other businesses sharing the space, there’s bound to be collaboration and future business opportunities.
Reach out to us at here and tell us your requirements and you can be up and running within a week.