In land scarce Singapore, finding an office for your business can be a tricky affairs. Unlike many other countries, car ownership in Singapore is one of the highest in the world, parking space also affects the total cost of renting your office if you are looking for an office in the Central Business District.
Lion City Offices is dedicated to help you find the serviced office that is ideal for your business.
What is serviced office?
When you consider renting an office, it is not merely the cost of what is stated in the rental agreement with your landlord, there are many other hidden cost that you might not be aware of, especially if you are starting a new office in the first place.
There are many associated costs like:
1. Furniture cost. This is usually a fairly heavy one time upfront investment for your office furniture
2. Receptionist cost. If you are a small start up, you might not be able to afford a full time receptionist. Using a serviced office actually allows you to have a professional front in the form of a receptionist counter
3. Internet Access. unlike residential internet internet access, you need to arrange with your Internet Service Provider and building facility management to enable your corporate internet access. Also, speed for speed, corporate internet subscriptions are more expensive than residential broadband
4. IT infrastructure – Getting your internet access is only the first step. Setting up your router, firewall and other IT infrastructure requires planning and budget
5. Utility – Well, utility is part and parcel of any kind of “space rental” in Singapore. If you are moving in an unfurnished office, you will need to setup your air conditioning system.
6. Printing – Trust us, even with the internet, printing documents is an essential part of your business. If you need to print quality documents, you will have to use a full-service professional printer which can set you back by SGD$100 per month easily.
7. Lease – Most offices come with 1 year or 2 years lease at the very lease. And if you are a start up, in all honesty the odds of surviving the first year isn’t in your favour. Opting for a serviced office allows you to have short term lease (some times even 1 month). This reduces the liability in terms of contractual leasing terms.
As such, using a serviced office where the service office provider rents an entire floor (sometimes smaller) and partition it into smaller shared office is a no-brainer with all the benefits above.