Cut Business Overheads With Coworking Space

Date: Tue Aug 30 Author: Chelliah Nakeeran

Surging energy prices, increased living costs and an uptick in office rental fees have put the squeeze on employers and employees. To make matters worse, economists are predicting a prolonged period of stagflation to hit the UK in the second half of 2022.

Utility bills have already increased by 66% since October 2021. If proposed plans to add a further increase of 40-50% this coming October go through, the average cost of household energy bills will hit over £3600 a year. That’s more than double the cost of pre-pandemic energy prices.

The economic slowdown could have a devastating effect on small-to-medium-sized businesses. In the current climate, business owners will need to find solutions that enable them to reduce overheads and free up cash flow.

In times of economic pressure, cutting costs is always the first course of action. The unfortunate tool is to wield the axe on employees to ease the wage bill.

However, reducing your workforce also means you reduce your levels of production and, presumably, your revenue. Rather than slashing your wage bill, consider eliminating overheads associated with office rentals and rising utilities.

Cost-Effective Coworking Spaces

When you rent office space, you typically pay a ‘business rate’ for the lease which includes a property tax. On top of that, you are responsible for utility bills, maintenance, facilities and office running costs.

In addition, you typically have to rent out an entire office or floor, regardless of whether you’re using the space in its entirety. Oftentimes, businesses are paying for space they’re not even using.

If you’ve adopted a hybrid working model, paying for space you’re not using is noticeable. Furthermore, there may be a cost-effective solution with coworking office providers that charge you for the space you use when you use it.

Coworking spaces allow you to book offices and meeting rooms by the hour. This enables you to manage your costs and save money that is ordinarily wasted if you’re leasing office space via traditional methods.

Avoid the Costs of Downsizing

It’s understandable that some businesses are contemplating downsizing to a smaller office right now. But downsizing still involves unnecessary costs that can be avoided.

Searching for new premises, hiring movers, decorating and potentially paying crossover monthly rental and utility fees quickly racks up costs you could put to better use elsewhere in your business.

There’s a strong chance that the initial outlay of moving into a coworking space will be significantly lower than relocating.

Coworking Space Contracts

Some coworking space providers lock you into monthly or annual contracts. This typically involves paying for space and facilities that you may not need. Consequently, you may not reduce your costs as much as you hoped.

BluDesks give you the opportunity to book space by the hour. This means that you avoid overpaying for space you don’t need. It also allows you to set a monthly budget aside and manage your spending.

Furthermore, we have hundreds of coworking spaces for you to choose from. This makes it easier for your employees to find a coworking space that is conveniently located close to their homes.

As a result, your employees will reduce the costs involved in getting to work in the city and use less energy at home.

Contact us today and find out if we can help you lower your business overheads.

Is Working From Home Racking Up Your Energy Costs?

Date: Tue Aug 23 Author: Chelliah Nakeeran

The idea to work from home couldn’t have come at a worse time. As energy consumption was ramped up during lockdown, the supply of fossil fuels was heavily depleted. Energy companies have since raised their prices to keep up with current demands.

Energy prices have increased by 66% since October 2021. And the government is contemplating a further increase of 40-50% this coming October.

The average cost of household energy bills in 2021 was £1400 a year. It is estimated this figure will rocket to over £3600 this winter. Employers and employees are feeling the weight of the rise in home utility costs.

In times of economic pressure, every cost-saving on offer can help businesses and employees to navigate lean periods. If you’re concerned about running up an energy bill you will struggle to pay, a cost-effective solution is to take advantage of local coworking spaces.

BluDesks make finding a cost-effective coworking space near you even easier. With a single login, you have access to hundreds of affordable hotdesks, private offices and meeting rooms. And coworking spaces also offer several other benefits.

Working With Others

Coworking spaces are great working environments for people that prefer to spend time around others. Whether you operate better when you’re surrounded by the buzz of a busy office or you feel lonely and isolated working from home, coworking spaces are a great place to be around people.

Businesses also have the opportunity to expand their network. Lots of other companies take advantage of shared office space so you never know which doors will open for you. For freelancers, coming into contact with other businesses can be invaluable for building your client base and your portfolio.

But for people that do feel lonely and isolated working from home, being around other people helps you to nurture your emotional well-being. The statistics collected during the pandemic highlighted what damaging effects feelings of isolation and loneliness can have on your mental well-being.

Loneliness is linked with depression. During the lockdown, the number of people with depression in the UK increased by 28%. This is a strong indication that feeling isolated can play a significant role in your emotional well-being.

Cost-Effective Coworking Offices

When it comes to finding a coworking space near you, BluDesks make it as easy as possible. We provide you with a platform that hosts multiple coworking spaces all over the UK so it’s easy to find the ideal space close to your home.

Taking advantage of coworking spaces in your local area cuts down on the cost of travel and enables you to manage your time better. You could even walk or cycle to work to give your personal well-being an extra little boost.

And with coworking spaces available for as little as £2, our cost-effective solutions can help you to get through a potentially tricky financial period. You can turn your heating off whilst you’re not at home.

 

Hybrid Work & Co-Working Spaces: The New Normal?

Date: Wed Aug 17 Author: SEO Team

As unprecedented as the Covid-19 pandemic was, so were the business trends in the fallout. Once lockdown restrictions were lifted, 85% of British workers didn’t want to return to the office.

The hybrid working model provides benefits to both employers and employees. Given the flexibility to work part-time from home and the rest of the time in the office, employees have the work-life balance they crave together with the autonomy to choose where and when they work and save money.

Businesses also have an opportunity to save money by downsizing offices. By transitioning to a hybrid model, there is less requirement to rent office space to house an entire workforce.

There are two ways to downsize; rent a smaller office from a commercial landlord, or rent flexible coworking space which gives you the flexibility to rent the space when you need it.

Given the increase in office rental prices and utilities, co-working spaces are becoming the most cost-effective and preferred option for numerous businesses.

However, office managers should be wary about the nature of the contract you are entering into with coworking spaces. It can be the case, that you pay for services or office space you don’t need.

BluDesks has designed a business model most other co-working spaces do not offer. Firstly, we provide you with a portal to multiple co-working environments in the city where you live.

Secondly, our facilities are based on a pay-as-you-go basis which means you only pay for the space you use. Ordinarily, you are paying for space you are not using. The BluDesks model enables you to manage your office costs accurately – and save even more money.

What to expect from coworking spaces with BluDesks?

BluDesks offer affordable and flexible coworking spaces in London and across the UK. That means no matter where your employees need to work, they have easy access to a co-working space with all the amenities you can expect from a fully-functioning office. Because of the choices available, your team can book whichever workspace suits their needs. For example, you will be able to find a conveniently located meeting room for a 1-2-1 and a small room for 3 or 4 people to brainstorm or a large meeting room to provide training or a presentation.

If your business relies on team collaboration, it may be more convenient and cost-effective for a colleague to meet in a location that is more convenient for them to reach than your main base.

As we discussed in a recent article, reducing the need for all your employees to commute helps to improve your ESG score. Co-working spaces also serve as a convenient option for employees who prefer to work in an office environment rather than working from home.

Whilst the number of UK businesses that have adopted a hybrid working model is still relatively low at 37%, the number will increase as more office rental contracts expire. With hybrid working environments set to become the new normal, business planners need to look ahead to determine how they can save costs.

Paying For Office Space You’re Not Using? Save Money On Coworking Space

Date: Mon Aug 15 Author: Chelliah Nakeeran

The advancement of telecom technologies have made it possible to enable working from home and empower employees. In the post-pandemic era, the majority of employees don’t want to return to the office.

However, a large percentage of executives feel working in an office environment is invaluable. A raft of CEOs heading high-profile brands have publicly aired their opinions about the downside of remote working.

Andrew Bailey, the Bank of England chief, for example, called for more staff to return to the office to train new employees. Goldman Sachs boss David Solomon has labelled remote working an “aberration” and law firms are threatening to shave salaries by 20% to deter employees from working from home.

As a result, some companies are persisting with expensive office rentals in central locations. In the current climate, an increase in expenses will quickly erode company budgets and the purchasing power of your employees.

For firms operating out of central London, continuing to run your business from a Grade A office rental could stunt your growth. Rental prices in the West End average a jaw-dropping £117.50 per square metre – up from around £90 per square metre in Q3 of 2021.

Furthermore, if your offices are based on a commuter belt, the cost of fuel feels like a waste when you’re sitting in traffic. Frustration builds up stress which, in turn, impairs cognitive health and performance.

Hiring coworking spaces resolves all of these problems. Your teams can work together on projects without you bursting your budget, and with office space all over the UK at your fingertips, you have instant access to a whole host of conveniently located coworking spaces with a single login.

Cost-Effective Office Solutions

Switching from rented offices to coworking spaces enables companies to significantly reduce overhead. Rental costs are lower and you probably won’t pay as much on utilities because the bills are shared.

Moving forward there are minimal overheads. Coworking spaces are well-equipped with all the furniture and amenities including photocopiers, scanners, projectors and TV/audio equipment.

If you want to create a hub-and-spoke model, you can use coworking spaces to establish satellite offices – but without the cost of renting an entire office. With BluDesks, you book and pay by the hour – so there is no risk of paying for space you’re not using.

Coworking Satellite Offices

Signing up for a BluDesks membership takes coworking to another level by giving you more options to rent office space and meeting rooms wherever you prefer, whenever you want.

BluDesks host coworking spaces in multiple locations in the city you live. This gives employees more opportunities to work together in locations that are conveniently situated close to their homes.

You also have access to hundreds of meeting rooms, so if you need to book meeting rooms on an ad-hoc basis and need to find somewhere quickly, BluDesks reduced the time it takes to find a suitable location.

Alternatively, you can book in “de-facto” private offices by renting meeting rooms for 1 or 2 days per week at times that you dictate.

Working From Home v Coworking Spaces

Date: Mon Aug 8 Author: Chelliah Nakeeran

The flexibility offered by hybrid working is prompting more businesses to adopt a different way of working. Data coming from the Office of National Statistics show the number of businesses adopting the hybrid model increased from 13% to 24% between February and March this year.

Other reports suggest that 8 in 10 UK firms are planning to switch to hybrid working. Yet the workforce is torn between working from home and working in the office. There are, of course, pros and cons to both options.

Advantages of Working From Home 

During the pandemic when companies were forced to send their employees home, it was noted that there was an uplift in productivity. This was due to a variety of reasons, but in general, working from home simply gives employees more time to focus on their work. Some remote workers also report they feel less stress.

The most notable benefit of working from home is they don’t have to commute. This saves employees invaluable time to spend with their family and friends and more money to engage in things they love to do.

Yet the home is not the best place for everyone to focus and be productive. Studies reveal that 61% of remote workers complain about feeling lonely and isolated. This impairs emotional well-being and impacts the ability to focus.

Another report indicates that 70 per cent of people working from home say combining work with the responsibilities of home life causes more stress. WFH employees with children and interruptive spouses cause them to lose their concentration whilst others are lured by the TV and the packet of biscuits in the cupboard.

Advantages of Coworking Space

Working in a professional environment can help to flick a switch in the minds of employees that are struggling to focus. Coworking spaces can help employees ‘start their motor’ in the morning.

There may also be a necessity to work in an office. Coworking spaces give you access to amenities most people don’t have at home together. There is also a built-in support system from teammates and other professionals that solves the problem of loneliness and isolation.

Balancing Costs

Some businesses find the cost of coworking spaces v working from home prohibitive. The general operating model of most shared office providers locks you into monthly contracts – and in most cases, you are paying for services you don’t use or need.

BluDesks resolve the issues of cost by offering pay-as-you-use coworking space and meeting rooms. With our business model, you have an easier time managing your business costs and organising your workforce. We also give you access to hundreds of coworking spaces all over the UK so your employees can choose an office that is most convenient for them.

With BluDesks, you book shared office space by the hour. So to manage your costs, all you need to do is set a budget and work within your limits. For more details, contact a member of our friendly team today, or simply sign up for a Corporate Membership.

Are You Paying For 30 Days of Shared Office Space And Only Working 10?

Date: Mon Aug 1 Author: Chelliah Nakeeran

Coworking spaces have proven to be extremely advantageous in helping businesses to navigate the various stages of the pandemic. Enterprises switching to a hybrid model in the post-pandemic era will continue to reap the benefits.

However, spending money on coworking spaces is not all roses and champagne. The vast majority of shared office providers lock users into fixed-term contracts – which means you usually pay for space and amenities you’re not using.

Our data shows that most companies adopting the hybrid model spend, on average, about 10 days a month in the office. This figure is calculated from the number of hours users are physically present in the space they are paying for.

When you’re locked into a fixed-term contract you pay for 30 days a month no matter what. And coworking space contracts include broadband, various office facilities and any additional services you may have requested.

When you do the maths, it’s clear to see that businesses are overspending. In the current financial climate, throwing money at 20 days of nothing is a waste of resources you could put to better use.

Pay-As-You-Use Coworking Spaces

Today’s workers want flexibility and cost-effective solutions. For a company that has switched to hybrid working, pay-as-you-use coworking spaces tick all the boxes.

The pay-as-you-use coworking space model allows you to book office space and amenities by the hour. All you have to do is book the amount of time you want to spend in the office – and that’s all you pay for.

This high level of flexibility enables office managers to manage costs accurately. You can still accommodate staff members that are due in the office on any given day – but, crucially, you’re not overpaying for space.

Bludesks also takes flexibility one step further. We provide our users with a global pass which you can use to book office space anywhere in the world – with a single membership.

With BluDesks, you only ever need to log in and browse one website to get access to multiple private offices, hot desks and meeting rooms. This also means your employees can work in an office environment that is closer to their home – which is better for their pocket and your ESG rating.

BluDesks Membership Pass

We don’t see the sense in forcing businesses and freelancers to pay for coworking space and amenities they are not using. It’s not fair on our clients – and you could use that money to help grow your business.

Our model is designed to make finding coworking office spaces, fast, convenient and easy. It also enables you to avoid paying for office space and amenities you’re not using.

The BluDesks personal membership and corporate membership passes give you instant access to thousands of coworking in one easy-to-use platform. You can book through our website or mobile app and pay-as-you-go. It’s that simple.