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Is a shared office space better than a full time space? We compare both options
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When talking about the difference in cost between the two types of space, it is always more cost-effective to have a shared office space. Rather than one company or business bearing the brunt of the entire rent of the space, having a shared office with other businesses allows you to share the cost of rent as well. The same applies for sharing resources and equipment too.
The full time space may require your company to sign a long-term lease, like six months or one year. It is an agreement that you are willing to invest for the future, even if you can’t say where your company or business would be at that point. On the other hand, a shared office space might make more sense for a temporary set-up or if you are only in town to work for a short while.
Furniture and equipment
Moving into a new and full time space means having to spend time and money on purchasing all the furniture and equipment right from the get go. Whether it’s something basic like tables and chairs or specific hardware and software, it’s not an easy task to take care of it all as one company. Moving into a shared office space means everything is already set up and put into place, leaving you with lesser things to worry about on your plate.
Having a traditional office space means you might have to hire a separate maintenance team to make sure your office stays in tip-top state. In the case of a shared office space, there is an existing team on site that is trained to manage the operations and appearance of the office. They will take care of any technical issues and ensure that things are moving smoothly. They would also greet your guests and clients with the utmost professionalism, thereby maintaining the image of your company.
The opportunities for networking are endless while in a shared office space. While a traditional office space provides you with the location and privacy for just your company, there are fewer chances to meet with staff members from different companies on a daily basis. Interesting events and discussions can be held with more ease with people from different backgrounds while working in a shared office space.