Why A Serviced Office Represents Especially Good Value During The Cost-Of-Living Crisis

In May, the UK inflation rate hit 9.1%, a 40-year high. Furthermore, the cost-of-living crisis currently engulfing the UK is still set to get worse before it gets better, as the country’s inflation rate is expected to reach roughly 10.5% later in 2022. 

Martin McTague, national chair of the Federation of Small Businesses (FSB), has warned in words quoted by Relocate Global that “the cost-of-living crisis starts with a cost-of-doing-business crisis”. Meanwhile, tackling that crisis could start with looking at exactly where work takes place.

What is the current situation, and what could you do about it? 

“As margins are eroded, leaving less and less for firms to invest in upskilling and innovation amid labour shortages and net zero targets, the government must use the tools at its disposal to help stem the tide,” McTague has insisted. 

He called for “cuts to VAT, especially on energy, and targeted reductions in fuel duty — many businesses, especially in rural areas, have no choice but to use the roads.”

In the wait for the government to potentially introduce new cost-saving measures for businesses, you could find your own company treading water for much of 2022. However, you could also find that switching to a serviced office helps you to consolidate a range of running costs. 

What is a serviced office?

A serviced office is basically a ready-furnished workspace where internet and phone lines are already connected and devices for use with these are also provided. 

Hence, moving your business into a serviced office wouldn’t require you to go through a lengthy process simply to get yourself and your staff “up and running” in this workspace. However, especially crucially right now, many of your firm’s costs could be covered by a monthly fee.

Consider the example of the serviced offices available for booking from BE Offices. With these offices, the costs of rent, rates and utilities are all met by the monthly charge — and free telephone calls are also thrown in as part of the package. Many serviced offices are also readily accessible via public transport.

So, how could a serviced office help you to save money? 

In one recent survey conducted by the FSB and reported by Elite Business, almost half of small British businesses said that increasing operating costs would stall growth. 

However, the same research found that businesses most confident about weathering the storm included those quickly adapting to hybrid working. 

A hybrid work model would lend itself especially well to use with a serviced office, as part-time payment plans for such offices are letting employees transition between the office and home. 

In one recent survey noted by the Startups.co.uk website, 85% of remote workers said they wanted their employees to implement hybrid office working in the wake of the pandemic. So, introducing hybrid working could prove a very popular move with your workers. 

While the coming months could be tough for businesses, they would be able to rent a serviced office while also having the option of relinquishing the contract at short notice if necessary.