The last ten years have been an interesting time for the financial markets. Ever since the global recession, in 2008, things have been tough for businesses. Young companies and start-ups have had it particularly hard, because there is substantially less investment in emerging enterprises than there was a decade ago. There is significantly less support too; many governments have reduced the amount of funding given to new businesses.
Yet, there are many positive developments too. This lack of support has led to the rise of crowdsourced funding and community enterprise. Entrepreneurs are now being sponsored by donations from individual investors, in exchange for personal stakes and rewards. Nomadic workers are throwing off the burden of costly long term leases and opting for flexible, serviced office solutions. With managed workspaces, there is a perfect balance between corporate freedom and security.
During times of economic turbulence, there is nothing more important than flexibility. If you are a small company that works in an agile, lean fashion, with narrow profit margins and a compact workforce, you simply can’t afford waste. You need the ability to respond quickly to market developments and reshape your resources accordingly. This is something that serviced office solutions in Perth, by Servcorp, can help your business to achieve.
Keep reading to find out how serviced office solutions could help your company survive and thrive in a recession.
The problem for most businesses, particularly during a recession, is not really a lack of capital. The primary issue is usually that money is not being directed to the most urgent of needs. This tends to happen because it is tied up in long term leases, unused resources, and inefficient tools and equipment. With a serviced office, the majority of resources are made available on a user-pay basis. In other words, you are able to invest in only the things that you need and, if the markets become unpredictable, you have the option to instantly downsize.
Ideal for Young Businesses
Emerging enterprises know all too well how important this degree of agility can be. During the first few years of operation, you need to be prepared for the unexpected. Missing shipments, inefficient supply chains, fickle customers, and even things like fires and flooding can cause major headaches for entrepreneurs. It is just one more reason why it is safer to free up capital by opting for a flexible serviced workspace. As all of the equipment and maintenance is provided, there is less pressure on young businesses to invest fast and plan later.
When there is uncertainty within the financial markets, clients and customers seek to protect their own investments by taking fewer risks. While you may know that your business is the right choice for them, you need to prove that it is worthy of consideration. For many, home based enterprises represent too much of a risk, particularly during a recession. However, with a serviced office, you can give prospective clients a prestigious corporate address, without the impractical expense of owning one outright.
Be Ready for Anything with Serviced Office Solutions
The markets don’t have to be in recession for these lessons to remain important either. The key to success in business is preparation and the ability to respond to unexpected events. Trends change, demographics fluctuate, and world events keep economies in a perpetual state of unrest; the most skilled enterprises are the ones that can move fast, react appropriately, and be the first on their feet after a shock or disruption. If you want to be one of them, it is time to consider serviced workspaces.