The decision to start a business is a substantial one, no matter where you are in the world. In every industry, the stakes are high and failure is a possibility. With eight out of every ten start-ups closing their doors in the first two years, you’ve got to be smart if you want to survive. As our economies grow increasingly hostile, the focus is on careful spending.
In recent years, entrepreneurs in Hong Kong have come up with some clever ways to streamline and optimise their overheads without compromising on quality. The serviced office, for example, is a major asset. It makes premium facilities affordable to smaller businesses. Visit www.servcorp.com.hk/en/serviced-offices/ to check out some amazing serviced suites.
This guide to the key features of serviced offices will explain why they’re a great way to minimise operational risk.
A Shortcut to the Big League
For many small businesses, working with a service provider is a clever way to boost brand potential. Due to the ‘all in one’ pay structure – which sees major utilities rolled into the monthly fee –, these workspaces are eminently affordable even while being in prestigious locations.
The consequence of this is an unrivalled opportunity to grab one of the most impressive addresses in the region for a very manageable price. In other words, you could be rubbing shoulders with some of the biggest brands in Hong Kong not long after you launch.
More Money for the Future
One of the biggest challenges for a first-time business owner is figuring out how to grow fast without putting the existing staff and equipment under too much pressure. Expansion and development is a wonderful thing, but it must be sustainable.
You can’t invest all of your in capital growth, as it will leave you vulnerable when times get hard. All businesses experience difficult months, so you need to manage your overheads carefully. Serviced offices minimise expenses by including all major utilities in the rental fee.
The Freedom to Change
Whether you’re a first-time business owner or a third, mistakes happen. Sometimes, hard times aren’t even a result of your own errors. They’re just a consequence of a hostile economy. While you can’t predict the future, you can use serviced solutions to prepare for it.
These vendors offer inherently scalable resources, and this includes the physical office space. There are no-lock in leases, so you’ll never be trapped in an unsuitable contract. Plus, many serviced facilities allow tenants to up or downgrade within the same building if needed.
Making a Major Impact
Finally, it’s worth remembering how useful it can be to occupy a top spot, particularly in a place like Hong Kong. When your office is centrally located and right at the heart of all the action, the business is visible. It’s a beacon for investors, sponsors, suppliers, and local talent.
It’s also much easier to tap into local networks if you’re in close proximity to them. Most serviced facilities give tenants a helping hand with networking. It can be invaluable if you’re new to the area. Pitch nights, mingling sessions, and networking events are a common perk.
Why You Need a Serviced Office in Hong Kong
Aside from the practical and technical benefits, serviced offices have a substantial impact in terms of brand exposure and market presence. Location prejudice is a legitimate concern in big cities like Hong Kong and, unfairly or not, investors love brands that look the part.
You could attract more attention simply by having an impressive address, in a sought after neighbourhood. Fortunately, serviced providers can help you secure it, even if you’re working with a tight budget. They are committed to providing flexible, custom workplace solutions.