As a result of the rapid changes undertaking the fundamentals of society, thousands of opportunities became available for young entrepreneurs to form their own companies and go after a share of the market. These opportunities created several windows for investments with high return and less risk in related fields such as real estate. For any new company to start, it has to have its own office space. Office spaces are often too expensive for the newly-found companies so most startups tend to share offices to save cost and time. Nowadays, investing in service office in Singapore is a golden opportunity. With the continual rise in the number of new companies, the demand for shared office spaces is not expected to stop anytime soon. More importantly, investing in shared offices contains far less risk than that of other investments. Worst case scenario, the investor can resell the property for the same value they bought it with. In most cases, the investor ends up making at least double what they paid for the property in the long run. Some even rent large spaces and re-rent them in small portions to starting companies. Shared spaces help improve the economy and they can be seen as essential for the survival of a new company.
Why startups in Singapore prefer service office?
- In most cases, startup owners try as much as they can minimize their expenses. At the beginning, the number of their employees is usually very little so they opt to rent small spaces in shared offices instead of renting an entire office.
- Serviced offices charge a stable amount of bills beforehand which saves startups, both the additional cost of services and the headache of paying them on a monthly basis instead of paying just a constant amount to the space owner.
- Shared spaces often fuel needed collaborations between small businesses that sometimes result in multimillion dollar ideas. It also helps them get additional exposure.
- Renting shared office space gives companies the opportunity to pick strategic places as their headquarters since it inherently provides them with more options.