Obliterate Your Startup's Office Costs With These Simple Tips

Starting a business is always going to cost you money, and it’s vital that you can save wherever possible. And one of the prime places to start looking is the expenses of your office. Make no mistake about it, renting a room soaks up a significant proportion of your budget – it could be anything between 5 and 10 percent of your revenue. And if you have plans of setting up in a flashy office in an expensive area of town, those percentages could rise by some distance. Imagine what you could do with that money if you could reduce it, even by a quarter or half? With this in mind, we’re going to explore some of the ways startup owners can reduce the costs of their offices – let’s take a closer look.
The virtual business at home
Thanks to the Internet, it’s never been easier to run your business from the comfort of your own home than it is today. If you are using subcontractors or even employees, you can allow them the opportunity to work wherever they like, too, and keep in touch via video conferencing. Free VoIP services like Skype or Google Hangouts makes this so easy to do, and don’t have to cost you a penny. According to the Hoxton Mix, you can even set up a virtual address for your home business, too. Doing this will give your business a more professional address and location, so customers won’t get the impression you work from home.
Coworking spaces
There are plenty of coworking spaces springing up in every town and city in the country. And they offer small startups the opportunity to hire desks at super cheap rates, and space you will share with many other startups and new businesses. Not only will you enjoy the benefits of low rental rates, but you will also have access to a lot of different people doing some incredible things. And you will also find that these types of startup hubs often lay on interesting talks and meetups where you can meet and question successful entrepreneurs.
Find a space in someone else’s office
Many businesses work in offices where they don’t need every desk. So, ask around your local business community and see if you can find a business that wouldn’t mind subleasing you a space or room that they aren’t using. They will benefit from the extra income, while you will take advantage of a more attractive rental rate than you might find on the open market.
Move location
Government and councils often target specific areas for regeneration, in an attempt to attract new businesses there. And you will find that some of the terms on offer can be highly attractive. You might get offered rents at well below market rates over extended periods of time – especially if you are one of the first to take the plunge.
Buy nothing new
Finally, don't forget that the costs of kitting out your office can be incredibly expensive, too. But there is no need to buy everything new – look around at your local charity stores or flea markets to find suitable furniture, and instead of buying brand new Macs, consider buying refurbished or repaired PCs for a fraction of the price.