Serviced office myths and misconceptions
Misconceptions are abundant about what a serviced office is and what it should be. Here, we debunk the myths.
Many have the idea that serviced offices are only temporary offices.
Many are of the opinion that serviced offices are for companies that are undergoing transition phases. The myth is that companies that are operating out of serviced offices will only be there temporarily. For example, companies that have temporarily moved out of their offices for renovations and constructions to take place. Or, companies that have moved out of their old office and are waiting for constructions on their next office to be done.
The perception is that serviced offices are just merely temporary camps for companies while they wait to move into their base.
However, this is not the case.
Serviced offices are more than just temporary offices. It offers both short term and long term leases. This allows it to be more than just a “temporary office”, and allows it to be a “home base”. The facilities and services provided in serviced offices are also on par or even superior to those available in traditional offices.
Many might think that they have no job security if they work out of a serviced office.
It is commonly said that companies that are residing in serviced office spaces are unstable, and might disappear at any moment. This is because there is a myth that all companies operating out of serviced offices are dodgy shell companies, that are here today and gone tomorrow.
Nevertheless, this is not true.
This perception might have been born due to the fact that many companies tend to not stay long in the same serviced office. Many tenants of large serviced office providers choose to switch up locations and operate out of a different serviced office location.
Moreover, many large companies have now decided to branch out and place teams in serviced offices to allow better communication. Therefore, although this myth might have been valid in the past, it is no longer valid.
Serviced offices are often perceived to be tied to a period of uncertainty.
Companies that are tenants of serviced offices are often related to a season of downsizing or expansion. This is due to the fact that many serviced offices out there constantly emphasise flexibility in the leasing terms which allows companies to up-size or downsize their offices with short notice.
However this is just an added bonus of being based out of a serviced office. It does not mean that all companies residing in serviced offices expand and downsize at whim. In fact, only a small percentage of businesses take advantage of this benefit.
Another common myth is that serviced offices and co-working spaces are only for start-ups and SME’s. Nevertheless, that is not the case. Read more about it here.
There are many more myths and misconceptions about serviced offices and co-working spaces. If you would like any of your questions and confusions to be resolved, please do not hesitate to contact us through this link or through the live chat function.
By Yao Victoria for Colony