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What type of office is right for your business?

If your business has been growing successfully for the last year, the chances are you now need to find a suitable office space to meet demand. But which kind will be best for you and your team? Is your business ready to risk investing in a conventional office space, or will a virtual remote office suffice?

Choosing the right office environment will be crucial to the future success of your company.  And, while only you can decide on where to set up a base and what kind of space to choose, we have identified three of the most common types of office spaces used today to help you when weighing up your options.

The most well known space used by businesses is the conventional open plan office. Normally, these cater for a medium to large sized workforce, and are based in a central location to the company’s area of work. Offices like this usually require you to pay rent to a landlord upfront, with a lease signing the space over to your company for anywhere between 3 and 5 years. There are also a number of additional costs you might need to factor in, such as business rates, business energy and the cost of increased absenteeism due to germs spreading more easily in an open plan office space.  

If you don’t think your business is quite ready to rent an entire office space just yet, you could consider shared office spaces. They are adaptable to the needs of a wide variety of clients, and offer many benefits, including low overheads, existing IT infrastructures and the flexibility of a short lease.

However, if your team is already delivering exceptional work and meeting deadlines whilst working remotely, you would probably benefit from keeping your office as a virtual one. In this setting, you have no office overheads, and tasks are assigned and completed online. This set-up also provides your team with flexibility and doesn’t require them to be in the same place at the same time every day.

Although choosing an office space can seem daunting, our flowchart has been designed to help you select the right one for you. Once you’ve made the decision, there will be nothing holding you and your company back!

If you are looking for more information, visit our what is office insurance page.