It goes without saying that when you run a business, it is important to choose the best possible office space that is available to meet your needs. It doesn’t matter whether you’re an international long-standing business or a brand new start-up business, this is just as important and there are so many benefits to having a good space to work from.
When searching for a new office space, one of the first things that you will need to decide is whether you’re going to rent or buy the property. These days, it is becoming increasingly popular for businesses of all shapes and sizes to opt for renting over investing and it seems to be something that many decide without hesitation. If you’re wondering why renting tends to be more popular, keep reading today. Below is a list of advantages that sway many business owners into this decision.
Less financially demanding
In general, renting is known for being less financially demanding for business owners. You don’t have the initial upfront costs of things like your huge deposit and your solicitor’s fees, and you can also expect your ongoing costs to be much less too as you won’t have to pay for things like property maintenance. Of course, in short, renting ties up less capital too.
Provides access to desirable locations
As you’re probably well aware, it is incredibly expensive to purchase a commercial property in a town or city centre, so often finding somewhere affordable in a desirable location can be very difficult. When you decide to rent, it is likely that you will have lots more options to choose from and, for example, finding an office space in Cambridge will be much easier.
Easily allows future growth
Many businesses’ needs change over time and renting an office building is much more flexible, which is undeniably beneficial in this regard. You won’t be locked into property ownership and with different lengths of leases available, if you need to move to a bigger space, it will be easier to do so. Your business will never be restricted by the size of your office space.
Prevents any additional responsibilities
When renting, you can have a beautiful modern office without the additional responsibilities of having to maintain the space. As mentioned above, you will save money in this regard, but it can also be much less hassle for you as a business owner too. You can relax knowing that your landlord will take care of anything that is required, meaning you can focus on your business.
Reduces your waiting time
Purchasing a property can be a lengthy process and there is no predicting how long the conveyancing will take. Thankfully, more often than not, when you decide to look at offices to rent, you will be able to move in straight away. Not only is this more convenient but it also allows you to get settled and begin working more efficiently much sooner too.
Much less risky
Many business owners also take into consideration the fact that generally speaking, renting an office is much less risky. For example, you don’t have the risk of losing thousands of pounds if property prices go down and you’re looking to sell. Of course, it is worthwhile pointing out that if anything was to go wrong with the business, you don’t have a property to deal with as well.
Finding an office to rent in Cambridge
Ultimately, there is no denying that renting your office space is a brilliant idea and the advantages of doing so greatly outweigh any potential drawbacks. Whilst there is no right or wrong thing to do when you’re looking at new offices and choosing whether to rent or buy is a personal decision, it is clear to see why so many instantly opt for renting nowadays. You can guarantee that renting is likely to be a good choice for you too.
If you’re looking for an office to rent in Cambridge, be sure to visit The Bradfield Centre website today. Our business centre is at the heart of the Cambridge Science Park and we can provide you with a private office within our building. Our serviced offices are very popular amongst innovative high growth start-up and scale-up businesses and, we have the perfect office solution available for anyone who is interested in finding a home in our business centre. Please don’t hesitate to contact us if you have any questions at all about our office space in Cambridge.