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How Can a Serviced Office in Singapore Save You Money

Oct 24, 2014 | Sharon Cheong

The World Bank lists Singapore as the best country in the world for doing business. As a matter of fact, launching a business in the ‘Lion City' requires no minimum capital, involves only three procedures, and takes only three days. There is no legal minimum wage (although the National Wage Council looks after adjustments), and inflation is kept well under control. Local and foreign businesses are treated equally, and there are no tariffs on imports. The list of reasons for setting up a business in Singapore can go on and on.

Why You Should Consider a Serviced Office in Singapore

If you're eager to start your Singapore-based business and want to save on money, a serviced office would be perfect for you. Real estate is understandably expensive in Singapore, so nearly all small- and medium-sized businesses rent a space. However, renting a serviced office, which can also be referred to as a managed office, business center, executive center, or executive suite, is the better alternative because they are fully equipped, immediately operational, and offer pay-as-you-use options for businesses that are looking for a cost effective solution.

Outstanding facilities at affordable rates

According to studies conducted by the UK Chartered Institute of Purchasing, serviced offices can help businesses save up to 78% of their running costs. Unlike conventional offices, serviced offices already have all the essential facilities set up, and they are often of first-rate quality and better than whatstartup businesses can get otherwise.

Completely furnished rooms

Your business in Singapore can be cost effectiveas you don't need to purchase and transport computers, furniture, or even decor to your office. Telephone, Internet, toilets, and a shared kitchen are also ready to use.

Inclusive of office appliances and maintenance

Shared photocopiers, network printers, and fax machines are already set up. There is a common Reception area with Receptionists and answering service. Office/building upkeepincluding the equipment is managed by a hired team, so you can remove that from your business worries.

Pay only what you use

Secretarial services,overseas calls, delivery, mail and fax, print-outs, photocopies, and conference/meeting rooms can be requested on a ‘pay as you use' basis. There are occasions where these are given for free.

Adjustable terms

The terms for serviced offices in Singapore are extremely adaptable and can be as short as 1 month. You'll receive just a monthly invoice, which already covers your basic rent, reception service, security, electricity, maintenance, taxes, insurance, and Internet. The cost is noticeably affordable because it's been split up with other businesses, thus helping you lower your total operating costs.

Conclusion

There's no doubt that a Singapore-based serviced office has a lot of advantages. With the booming Asian market, now is the best time for you to set up shop in the number one Asian country in terms of political stability and quality of life. A serviced office in the ‘Lion City' combined with the best labor force in the world can definitely lead your business to success.

Ask Servcorp today about their serviced offices in the heart of Singapore.