How Serviced Offices Provide Greater Agility & Reduced Risk in Business?Posted on 16th Nov 2020
The key to business success is responding with speed and agility to opportunities as they arise. But this can be fraught with risk and can draw on a business’ resources and reserves. This is where a serviced office provides the right solution.
Benefits of a serviced office:
- Flexibility The short-term, renewable agreements a serviced office provides, especially benefit start-ups and small businesses with irregular cash flows
- Reduced risk With a serviced office, businesses do not have to tie up their assets into buying an office. This enables them to change the size of their office rapidly according to the business climate.
- Cost-effectiveness You do away with set-up costs and all those hidden costs that come up when you own an office or lease office space.
- Centrally-managed infrastructure The entire infrastructure, maintenance and day-to-day office functions, are centrally handled by the serviced office. This saves a lot of time and bother.
Businesses that can benefit from a Serviced Office:
A start-up took a serviced office in Chennai. He was able to assess the market situation and had the flexibility to move to a serviced office in another location where the competitive scene was more conducive to his business.
- SMEs expanding to a new market
Making a foray into a new market and assessing the situation on the ground is essential before plunging in. A serviced office in Hyderabad enabled an SME to literally think before leaping. A serviced office in Andheri, Mumbai was the base for another SME to rigorously test its business plan before making an informed decision to expand.
- MNCs not wanting to sink their funds into buying an office
The decision for a business to establish a suitable office for a small or large team can have quite a large price tag. The costs include IT infrastructure, office furniture, equipment, hiring of staff, maintenance and upkeep of the premises, including ensuring safety. As serviced offices in Mumbai and serviced offices in Bangalore show, the organizations do not have to worry about these costs because they are part of the package. All the energy of the team can be devoted to what matters most—getting the business going and growing.
- Business chains wanting to grow their market share
To increase its footprint across the map, a business chain worked from a business center in Mumbai which also had a pan-India network. This enabled it to have a simultaneous presence in key market locations.
The agility a serviced office affords along with mitigation of risks can make all the difference to business success.
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