Choosing the right workspace for your business

With business plans, budgets and client strategies taking up the bulk of the start-up phase, planning the physical set up of your workspace can fall to the wayside. Unless you’re in the retail, hospitality or construction business where you will need your own space, it’s likely that your business will start at home.

But if you feel you’re starting to outgrow your current space or working from home doesn’t quite feel right anymore, what are your options?

Home workspace

Before you discount it completely, remember, working from home or allowing your employees to work remotely from their homes, offers many benefits for micro or small businesses – particularly from a cost perspective. As your business grows, it’s important to routinely assess whether this type of workspace still meets your needs. If your employees are struggling to collaborate effectively, or your customers are demanding more personalised attention you may require a more professional space.

Shared workspace

Shared workspaces are growing increasingly popular, as they generally offer more flexibility in terms of cost, space and lease lengths. Co-working spaces also provide members the opportunity to connect with likeminded business owners and professionals.

If you’re looking to move out of the house, but aren’t ready to commit to your own premises, a co-working space could provide the best of both worlds.

Privately-leased space

If space, privacy or customer access are becoming an issue, it may be time to consider leasing your own premises. A long-term privately-leased space, can be an ideal workspace for small businesses that are more established. You’ll have greater control over your environment, with the ability to furnish the space and regroup internally whenever needed. However, committing to a lease can be an expensive investment so it’s important to consider whether your business is in a position to do so before you sign the contract

Workspace Decision Tree

Still having trouble making a decision? Use our decision tree below to find the workspace option that suits you.