Servcorp, one of the leading serviced office providers in the world, has answered the call for providing businesses with quality coworking spaces in and around London. Coworking spaces in the city offer a solution to expensive rents in London. With a million and one advantages, your coworking space cannot only fit out your business but it can also provide you with many networking opportunities.
With so many options to choose from, a Servcorp coworking space in London can provide a workspace for your business, in addition to the other amenities and equipment that make an office run smoothly. However, the coworking space is the only model where space can be utilised for other functions, namely networking. Before joining a coworking space, businesses should take a few factors into consideration.
Let’s take a closer look at all the factors you should take into consideration when choosing a coworking space.
A very important consideration in choosing a space is looking at your business profile and matching it up with coworking spaces that can complement your business. London is no different than other markets in providing variations of the coworking space to the UK palate, so when looking for a space keep this in mind. In general, coworking spaces fall into a few categories: niche and industry-specific.
East London’s Tech City is home to a number of industry-specific tech companies. However, you can find niche coworking in West London’s more exclusive coworking spaces. While these spaces are great for businesses, do not discount spaces that cater to a general population because being exposed to diverse industries presents different opportunities. Somewhere in between these two areas, is a space that fits your business.
While being centrally-located is a great benefit, coworking spaces afford you a little bit of flexibility because they generally tend to form communities themselves which can provide you with the same resources. However, your coworking community should be in a place that is easily accessible to your clientele, which is going to depend on the type of business you are managing.
If you plan to see a lot of clients, you want to be in a space where parking is easy and inexpensive to access. Those who do not have many clients but a lot of business might not have to worry about this in particular. Other factors influencing location have to do with image and prestige, which might require coworking in more premium places around the city.
If you are managing a business that employs more than a couple of people, consider the costs associated with renting a space. Before joining a coworking space, compare prices to make sure that per employee it is cost-effective to rent workspace for them. When making these calculations, take into consideration your own business and how much income it makes.
For example, if your coworking space is in West London or another trendier part of town, factor in your monthly income to see if it is worth paying for workspace. While there are numerous advantages to coworking, you ultimately want to make sure that your income more than covers the overhead. Not that paying for premium office space is wasteful as it can be an investment with business growth, but it should not come at the expense of cost-effectiveness to your business.
Considerations For Choosing Your Coworking Space
Among the many considerations in choosing a space, businesses should make the above three a priority. While they might seem like obvious ones, the coworking landscape has evolved to the point that one can lose sight of the function of the space in place of trendiness or some other cool factor. By taking these point into consideration, you save your business the hassle of having to re-establish itself in another community.