How To Get Cheap Offices in London
Starting a business is exciting, but there are lots of costs involved and your budget can quickly become stretched! Paying for office space is a big expense, but it becomes a necessity for most scaling startups and small businesses. The good news is that there are ways to save money on office space and stick within your budget. Here are our top tips for finding cheap offices in London with Spacepool:
Work From Home
Working from home is the most obvious way to save money as you won’t need to rent an office or pay additional costs like insurance and cleaning fees. However, keep in mind that your utility bills are likely to go up if you’re working from home as you will be using more electricity and may need to upgrade your Broadband.
Running your business from home can be ideal in the early stages but you will likely need to move to a larger office space once your startup grows. Your kitchen table or home office isn’t the ideal place to hold a business meeting or accommodate several employees - so you’ll probably start looking for cheap office space in London at some point.
Ever Heard Of Coworking?
A coworking space is a shared office that is used by multiple businesses and freelancers. Facilities like toilets, kitchens, meeting rooms and break rooms are communal and managed by the coworking space provider. Renting a coworking space is a cheaper alternative to leasing an entire office building, as you only pay for the space you need.
According to Work Better, another perk of renting a coworking space is that the office is extremely flexible and can grow with your business. If you wanted to expand a traditional office, you would need to wait for the lease to end, find a new office location, hire movers, and so on. Whereas you can simply rent additional space in a coworking office to accommodate any new employees.
How About That Coffee You Said You Were Missing?
Many cafes and coffee shops are more than happy for freelancers to use their wifi if they buy a drink or two. Trendy coffee shops have become hugely popular with freelancers, and they are a great place to network, especially if you’re just starting out.
Working in a coffee shop can help you save money and meet other freelancers, but it might not be a feasible long-term solution. You will likely need a larger, more permanent workspace once your business grows.
Sometimes It's Just Who You Know!
You’ve heard the saying, ‘it’s not what you know, it’s who you know.’ You might be surprised to find your ideal office space at an affordable price by getting out there and networking with fellow freelancers and business owners.
The startup community is extremely supportive, and most people are willing to help if you ask. Many businesses have spare cheap office space available for rent. Networking is a great way to find out what’s out there and get your foot in the door (literally!)
Clients? It's Time To Impress!
Working from your kitchen table or a coffee shop might be a good way to save money, especially when you’re just starting out and have a limited budget. However, you will need to find a professional office space to meet clients if you want to impress and win new business.
The good news is that London has a massive variety of modern meeting rooms available to rent. You can rent a fully equipped meeting room in the capital for anywhere from a few hours to a few days and use it as a base to meet clients.
Ever Tried A Hot Desk?
The demand for hot desks is increasing and data by Envoy shows that hot desk bookings grew 95% from April to May 2021. Hot desking is all the rage right now - for good reason! It’s a flexible and budget-friendly way to rent office space and there are loads of awesome hot-desking workspaces in London! Most hot-desking offices offer a variety of rental packages including monthly, annual and day pass rates.
The majority of subscriptions come with excellent facilities like modern meeting rooms, relaxing breakout zones, and high-speed broadband. The only downside is that you won’t have a permanent desk, so you’ll have to move around and bring your work items with you every day.
Utilise Social Media
Social media is a powerful communication tool that you can use to connect with people, businesses, and communities. Take advantage of the platform and see if fellow startups and freelancers can help you find your dream office space. You can search for hashtags and conversations about office spaces in London to find people advertising and searching for desks throughout the capital.
Sharing Is Caring (and Saving)
Why not share an office building and its facilities with other businesses and split the cost? Finding a shared office is an affordable but more permanent solution when compared to most of the options discussed above. You will have a static desk where you can leave your work equipment and can access fantastic, shared facilities like conference rooms and breakout areas.
Another perk of working in a shared office is that you will have the opportunity to build professional connections and network with businesses across a wide range of industries.
The Wonderful Outdoors
Indeed lists some of the benefits of working outdoors as:
- Increases your happiness and mood
- Improves your energy levels
- Relieves stress and anxiety
- Rest your eyes and brain
- Keeps you healthy
- Boosts your memory
Working outside in the fresh air has loads of great perks, but the damp UK weather means it’s not a feasible option for most of the year. That said, make sure that you get outside and enjoy the sunshine while you can this summer!
Find Cheap Offices With Spacepool
Why not explore our range of budget-friendly offices in London. Get in touch with our friendly team if you would like to discuss your requirements - we can help you find the best office space, for the best price!