Is Your Business Growing Rapidly? Here’s How To Manage Office Space

Date: Mon Sep 26 Author: Chelliah Nakeeran

Whilst the economic future looks uncertain, some UK businesses have the opportunity to capitalise on a market downturn. Every recession presents business opportunities.

As Del Boy would say, ‘he who dares, Rodney, he who dares.’

The increasing shift to digitalisation and mobile payment gateways, in particular, indicates the coming years will be lucrative in the fintech space and insurance companies.

But decisions need to be made to navigate the rocky ground. Growing a business in fast-paced markets requires foresight. One consideration that shouldn’t be overlooked is how your company will scale.

The obvious option is to lease office space that enables you quickly increase your workforce. But in the meantime, you’re paying for space that you’re not using. And if resources need to be carefully managed, you could be spending that money more effectively in other areas of your business.

The alternative to a fixed-term office lease is to rent coworking space. Shared offices give you the flexibility your workforce demands whilst enabling you to manage your overheads.

Low Start-Up Costs

Whether you’ve been up and running for several years or looking to establish your brand as a key player in the fintech space, being visible to clients is critical.

Whilst finch companies can work remotely, adopting office space for your headquarters projects a professional image and helps to build trust with consumers.

Yet the cost of leasing office space in London is through the roof right now. Quotes range from £40 per sq. metre to £85 per sq.m. The Financial Times reports that London’s office leasing market is 8.2 per cent higher than in December 2021.

On top of that, growing companies require continuous investment in office furniture, computers, air-conditioning, photocopiers and a raft of other amenities that are typically associated with a fully-functioning office.

Moving into a coworking space enables you to significantly lower your running costs and free up cash flow. Moreover, you can set a monthly budget to one side so that always know what your outgoings are for office space and meeting rooms.

Avoid Long-Term Financial Commitments

Whilst most coworking spaces will enable you to save money, it should be noted that every company has a different model where terms and conditions apply.

You will find that most coworking spaces tie you to fixed long-term contracts – usually 12 months. This is not an arrangement that will work for a growing business that needs to scale quickly in order to accommodate more staff.

The alternative option is to go with a coworking space provider that enables you to rent office space out by the hour. Not only does this avoid being pulled into a long-term commitment that stifles growth, but it also enables you to cut down on your monthly expenses so that you can grow even more quicker.

Facilitates Flexible Hours 

The modern workforce wants flexible working arrangements. A study published by Gallup indicates the preferred choice of business model is to switch to hybrid working.

The hybrid model means most offices will only have a skeleton staff. Leasing office space or tying yourself into fixed, long-term contracts is, therefore, wasting money you don’t need to spend.

Renting coworking space by the hour facilitates flexible working. And because BluDesks gives you access to offices all over London, finding the ideal location is even easier.

Can’t Find A Meeting Room? Here’s A Solution!

Date: Tue Sep 20 Author: Chelliah Nakeeran

Isn’t it annoying when you can’t find a meeting room? Or worse, you get kicked out without finishing your meeting because you could only book it for one hour when you needed two!

This is a common problem with many business entities today. Traditional offices simply do not have enough meeting rooms available to accommodate everyone that’s having a meeting.

And everyone’s having a meeting.

This issue is exacerbated now that businesses have downsized to smaller offices or moved into a coworking spaces. A coworking space may give you access to more meeting rooms, but there are also more companies having meetings.

Having spoken with multiple CXO/Facility Managers looking into office closures and downsizing, there are genuine concerns that employees, managers and executives will not have access to rooms where they can conduct client, team and project meetings.

Fortunately, there are solutions.

Virtual Meetings

Companies that have adopted the hybrid working model or work remotely full-time, can take advantage of technology to hold virtual meetings. You don’t have to book a meeting room when all the participants are connecting from the comfort of their own homes.

Virtual meetings are also cost-effective and reduce your carbon footprint – and thus contribute to a healthier ESG rating. You can also record virtual meetings which can save time typing up the minutes of the meeting.

However, virtual meetings also have a downside. A common problem is that poor internet connections are disruptive. When the connection keeps breaking up, people miss what you’ve said and you have to repeat yourself. This prolongs the meeting and you’re tight on time as it is.

The much talked about “Zoom fatigue” is also a factor. Virtual meetings are not as productive as in-person meetings and remote workers often get ignored. Because you’re not all in the same room, the energy and dynamic are diluted.

Not only that, but researchers at Stanford University found that in-person meetings are more satisfying, psychologically and emotionally. Participants are also more focused and creative during face-to-face meetings. In virtual meetings, we zone out.

Access Multiple Meeting Rooms With BluDesks

Whilst virtual meetings are fine for short check-in meetings when you need to get into the nitty-gritty of a subject matter, in-person meetings are the best option.

If you can’t find a meeting room in your office building, look for vacant meeting rooms elsewhere. Ordinarily, that would be impossible, but with a BluDesks membership, you have a simple and effective solution at your fingertips.

BluDesks gives you access to multiple meeting rooms close to where you live. Meeting rooms are available at an hourly rate. There are no fixed fees or monthly subscription payment, and therefore, no risk of paying for space when you’re not using it (unless you cancel the meeting in less than 24 hours of your scheduled booking).

There are plentiful meeting rooms available through BluDesks. You will find appropriate meeting rooms in various sizes, fitted with multiple plug sockets, TV/audio equipment and refreshments available on request.

Can’t find a meeting room. Join BluDesks today and access multiple meeting rooms whenever you need one.

5 Benefits of Satellite Coworking Spaces

Date: Mon Sep 12 Author: Chelliah Nakeeran

Now that more companies are pivoting to a hybrid model, employers and employees are turning to coworking spaces that provide amenities and facilities you would expect from a fully-functional office.

Another trend we’re seeing is that companies are taking advantage of the benefits of Satellite coworking spaces. This makes a lot of sense for a lot of employees.

Rather than simply relocating your office from a traditional rented space and moving into a coworking office in a central location, utilising coworking spaces as satellite offices gives your staff more convenience and flexibility.

Avoiding Long Commutes

A Flexjobs survey revealed that 65% of UK employees sent home to work remotely during the pandemic do not want to return to the office. Avoiding the commute was cited as the leading reason.

Satellite offices mean your employees have a shorter commute. That means they save time and money, but not only that, sitting in traffic jams can be frustrating for some people, especially when they’re busy or just want to get home.

Avoiding long commutes improves the mental health of your employees – both in the workplace and at home with their families. When people are less stressed and frustrated, they have more energy and a better frame of mind to focus on their job.

Lower Carbon Footprint of Your Business

Shorter commutes also mean your employees – and thus your business as a whole – uses less fuel. This lowers your carbon footprint which translates into a higher ESG rating (Environment, Sustainability and Governance).

Access Multiple Meeting Rooms

Some days, finding a meeting room can be a real pain. What’s more, if you’re on a fixed-term contract in a coworking space that includes meeting rooms, you’re paying for office space that you’re not always using. That’s money you could be putting to good use.

BluDesks solve two problems. We provide coworking space that you rent by the hour. You simply block out the time and pay for the appropriate hourly rate. So that saves you money.

In addition, we provide access to multiple coworking spaces, you have multiple options to find an appropriate meeting room that fulfils your needs – even for impromptu, last-minute meetings.

Help To Improve Employee Wellbeing

Another key insight to come out of the draconian lockdowns was how employees felt isolated and lonely. The fact of the matter is that some people (extroverts) need to be around their colleagues for company. It’s not a coincidence that anxiety and depression cases went up during the pandemic.

Satellite offices help to nurture the physical, mental, and emotional well-being of employees. Simply being around other people and interacting with colleagues helps to improve mood and establish a bond.

Supports Culture, Collaboration and Cohesion of Teams

Satellite offices make it easier for colleagues that live in the same part of the city to congregate in an office that is conveniently situated closer to their home. Adopting dedicated coworking spaces as satellite offices, you can maintain your company culture and facilitate collaboration and cohesion.

Why Coworking Space Should Be Included In Your Annual Operating Plan

Date: Mon Sep 5 Author: Chelliah Nakeeran

It looks increasingly likely that UK business owners will be searching for cost-effective solutions to include in their Annual Operating Plan (AOP) this winter. According to the Bank of England, the UK is heading for a recession.

England’s central bank has revealed that the 13% surge in energy prices will bring the average household energy bill in the UK up to £3500 this year. The increase in living costs will prompt consumers to curb their spending.

A decline in spending is not good news for business owners that are already feeling the pinch from hefty office leases, an increase in cost for raw materials and higher utility bills.

One solution to significantly cut your operating costs is to let go of the expensive office lease and take advantage of cost-effective coworking spaces.

However, entering a long-term contract with a coworking space that only offers fixed monthly payments may not necessarily enable you to free up cash flow either.

Why PAYG Coworking Spaces Provide Cost-Effective Solutions

Having spoken with multiple business owners in London that have adopted a hybrid model, it’s apparent that many companies are holding on to office space they are not using.

According to a survey conducted by Consultancy Advanced Workplace Associates, UK employees spend an average of 1.5 days in the office a week. 13% of workers only call in on Fridays.

This is money down the drain that could be put to better use.

The smart solution is to take advantage of coworking spaces that offer a Pay-As-You-Go (PAYG) program. With BluDesks, you can book private offices and meeting rooms by the hour – so you only pay for the space you use when you need it.

PAYG coworking spaces help to alleviate the financial burden and plan your operating costs by enabling you to manage your budget closely. You also get access to amenities and facilities you would expect from a fully-functioning office.

Coworking spaces also eliminate utility bills. And the rising costs of energy will suck up even more revenue from small businesses in the foreseeable future. It’s barely worth turning the heating on if there’s hardly anybody using the office.

Flexible Office Spent You Can Rent By The Hour

With more UK firms switching to a hybrid model, access to coworking spaces makes sense. Not only from a financial point of view but also to give your employees more flexibility.

Remote workers will occasionally need access to office facilities such as a photocopier or scanner. Rather than making the hour-long commute into your central office, they could book a desk for an hour in a coworking office 19 minutes from their home.

Not only are PAYG coworking spaces less costly, but they are also more convenient. And BluDesks go one step further by providing access to hundreds of coworking spaces from a central portal.

With a single membership, you can book private offices and meeting rooms by the hour anywhere in the UK. For businesses that need to cut costs, BluDesks could provide a solution that helps you to navigate the recession.