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Flexible Office Space: 5 Fundamental Ways to Save Costs

February 2020 – Landlords who are serious about doing business, such as The Business Exchange (TBE), are looking for efficient, well-organised companies who are equally serious about delivering results in a shared office space environment.

If you are not already familiar with the term “co-working”, it is a working environment where business is conducted in a shared space by a wide range of professionals, from entrepreneurial freelancers to large corporates.

Shared Office Space

These shared workspaces rent out virtual, private and shared office spaces, which include the use of business facilities, meeting rooms and common areas. Some, like TBE, also offer on-site cafes, gyms and restaurants, as well as a host of other services. David Seinker, CEO of TBE, says, “As the costs of office space rentals increase, space sharing is becoming crucial. With TBE, you only pay for the workspace you use.”

Shared Business Utilities

Seinker also pointed out, “By sharing communal business equipment, facilities and spaces, companies enjoy cost-savings benefits, not easily found in traditional office lease agreements.” High-speed WiFi, 24/7 access and security, as well as generators – a must to conduct business in South Africa nowadays – are a major drawcard to these sophisticated and professional offices spaces, located in prestigious business areas.

Flexible Office Lease Agreements

Companies are finding it increasingly difficult to forecast their space requirements over more than five years, which makes the flexibility of co-working office space all the more appealing, particularly if your business derives most of its income from contract-based work.

Flexible Workspace Management

Flexible workspace offerings contribute to significant cost-savings when it comes to renting office space. With the average lease period being from one year for small businesses up to three years for larger companies, office space flexibility, in terms of both lease length and the ability to quickly up or downscale office size, is becoming a sought-after benefit.

Building A Business Network

The value of a vast, professional business network can never be underestimated. Besides getting to mingle with other businesses in a shared workspace, professional office space providers such as TBE, regularly host workshops and other professional networking events, where you can build your networking community – which can lead to a whole host of new opportunities.

Shared office space should be considered if you want to fully reap the cost-benefits of co-working, networking, and the associated innovation for your business that comes from it.

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Flexible office spaces lead to more productive employees

10 April 2018

It has been proven that people who work in a flexible office space are happier, and happy employees are up to 12% more productive.* A survey conducted in 2017 indicated that over 44% of corporates were already using some type of flexible office solution and this number was expected to increase to 66% by 2020.**

The job market has become highly competitive, skilled workers can afford to pick and choose where they want to work. Companies are creating flexible office spaces that are comfortable, creative, productive, and environmentally conscious in order to make themselves more appealing to potential employees. Common additions include lifestyle elements such as child care services, healthy food, spas, gyms and other exercise spaces. These spaces also allow better access to innovators, talent and to reduce real estate costs.

“This is a very exciting time to be a business owner,” says Michael Baretta, managing director of [dot]GOOD, South Africa’s first and foremost cause-marketing agency and tenant at The Business Exchange in Rosebank, a flexible office space in Johannesburg. “With a staff contingent that fluctuates between 20 and 50, flexible office spaces allow us to ebb and flow as we need. For-good marketing also requires high levels of collaboration and creativity; which these spaces are perfect for,” he continues.

“I think that work spaces have come to reflect our cultures, behaviours and norms as a business. The office design and structure are incredibly important features which promote certain kinds of work and behaviour. As the nature of our work is knowledge-based, innovative and collaborative, we needed a workspace that mirrors the way we conduct business,” says Baretta.

“One of a company’s most important resources is its employees. The incoming workforce is incredibly concerned with feeling good about the work they do,” says David Seinker, founder of The Business Exchange. “The latest flexible workspaces are employing millennial-pleasing technologies such as LED lights, recycling, new-age aircons and water supply plants to be more environmentally sustainable,” he says. “All The Business Exchange buildings have been ‘Green Star Rated’. The Green Star Rating is a system that has recently been launched in South Africa, where buildings are rated on how environmentally sustainable they are,” he continues.

“The business world has long been viewed as static, and beyond reproach. Flexible office spaces are changing the narrative by making employee’s happiness a priority, ” concludes Baretta.

References

* Revesencio, J., 2015. Why Happy Employees Are 12% More Productive, California: Fast Company.

** The entrepreneur.2017. https://www.entrepreneur.com/article/307085 [accessed 03 April 2018]

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MEDIA CONTACT

Tiffany Mac Sherry

084 423 3466

tiffany@dotgood.co.za

ABOUT [dot]GOOD

[dot]GOOD is South Africa’s leading for-good marketing and PR agency. They engineer platforms and opportunities for brands and not-for-profits that reach organisational objectives, whilst giving back at the same time. Their mission is to create a community of social change makers that are driven by purpose as much as they are by profit.

ABOUT The Business Exchange

The Business Exchange is located in Rosebank Central, Rosebank CBD, Morningside and Sandton Central.

They provide cost-effective membership and co-working offerings, which means travelling employees are able to access any of locations around the country. If you’re looking for fresh talent, the collaborative energy at TBE is the perfect resource to tap into. You’ll get access to the TBE app, which allows you to connect with an entrepreneurial ecosystem of members – as well as book conference and boardrooms and seek assistance from on-site managers. Ultimately, it’s about providing inspiring spaces that allow your employees to work with purpose. The companies who realise this will own the future – and at TBE, they already do.

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The Benefits Of Flexible Workspace At The Business Exchange

Flexible workspace provides an alternative to a traditional office, where SME’s or individuals, who usually work from home or who are regularly on the road, have access to a physical office for flexible periods of time, as and when required.

Some businesses experience peak periods where they will require additional, flexible workspace for a relatively short period of time and this concept appeals to them as well as to others who may need interim office space whilst looking for something more permanent. flexible workspace at the business exchange

What Is Flexible Workspace?

Flexible workspace is also known as shared office space, shared workspace or co-working and at The Business Exchange, tenants on flexible workspace packages are provided with a desk, chair and trash can as well as a full IT infrastructure including high-speed fibre optic connectivity and free WiFi.

You will have access to all office equipment, (such as copiers, fax machines etc.), and a professional reception service. Should you need to arrange a meeting, we have stylish, modern and fully-equipped meeting rooms available for hire on an hourly basis.

Our flexible workspace solutions offer business owners the ability to work from different locations and only from an office when necessary.

Why Should I Choose Flexible Workspace?

Business owners are attracted to the reduced overheads that our flexible workspace provides. Services such as electricity, water, rates & taxes, office cleaning, building maintenance, etc. are included in a cost-effective monthly rental, which is available on a rolling month-to-month basis or on for longer periods.

Tenants are able to use the facilities monthly, weekly or daily and for those of you who require access to a daily, flexible workspace solution, The Business Exchange offers you your own dedicated desk in a shared office with like-minded co-workers.

What Can A Flexible Workspace Do For Me?

Due to our modern office design, with light, spacious and flexible workspaces The Business Exchange creates an environment conducive for getting things done quickly and uncovering new business opportunities. Our business centres encourage start-ups, and allow ideas to be bounced off co-workers as well as business and referral networks to be quickly established.

When you need a break from your workspace, The Business Exchange also looks after your nourishment with our on-site restaurant and coffee shop offering freshly-brewed coffee made by our very own barista.So whether you are looking for flexible workspace on a short, medium or long-term basis, The Business Exchange should be your first stop.

BOOK A VIEWING

Contact us to setup a meeting with one of our office managers, view our offices and to secure your office space at The Business Exchange.

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