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If you’re thinking of creating a new startup, but you’re not exactly rolling in cash, one of your primary situations is likely to be where you will base your business. Unless you’re a solopreneur working alone, chances are that you will need some sort of base for your operations, such as an office space, but that can get pretty expensive pretty fast!
The good news is that we live in the 21st Century and that means that we have way more options for basing our businesses than we ever did before. Just check out these office alternatives that will help to keep your startup costs down:
Depending on the nature of your business and whether you employees have to be physically close, the most obvious way to save money on office space is by not having one at all – by building a remote working team. This is easier than ever to do thanks to the increase in collaborative technology, good broadband coverage and the general willingness of workers to work from home (where they are typically more productive by the way).
Using virtual services that allow you to make use of a physical office address, which looks more official on your website and other promotional materials/mailouts and enables you to make use of virtual assistants and receptionists as and when needed is another very affordable alternative to having an actual office. Of course, you don’t get the working space you might require into the bargain, so this option is only really for the remotely based business too.
Since so many more people are self-employed and freelance working from home, there has been an increase in co-working spaces where various individuals working for themselves or various companies can come together and work side by side in a creative space. Particularly popular with freelancers and digital nomads, there is no reason why you could not make use of them, especially if you have a small team because it would allow you to be in the same space without you having to pay nearly as much for your own dedicated office.
Coffee Shops and Other Public Spaces
Okay, so this really isn’t a long-term solution, but if you’re just starting a new business and you have perhaps one or two other employees, meeting up at the local coffee shop whenever you need to have meetings or conduct collaborative work could work out quite well. Sure, there might be more hustle and bustle than is ideal, but if all it costs you is the prices of a few delicious coffees before you head back home to work remotely, then it’s probably worth it.
Of course, if you own your own home, there is always the possibility of turning part of it into an office for you and your employees. If you have a family or your live in a small studio apartment, it probably won’t work out, but otherwise, it could be an excellent way of keeping costs down and accessing the space you need.
Are you running a business without a traditional office space? How are you doing it?