How to Decide Which Type of Office Space in Singapore Is Right for You?

March 07, 2016 | Trinh Danh

Singapore is the home to many successful offshore businesses and it can provide excellent resources to any company looking for success. The biggest obstacle for many companies is coming up with the money for professional office space, furnishings, equipment, and employees. This expense alone can be thousands of dollars even in a region such as Singapore where prices are more reasonable. Another consideration is that once you set up your offices, your monthly expenses will continue and even escalate as your business grows. This can be difficult to calculate into your monthly budget. 

Important Considerations 

When considering which type of office space in Singapore is right for you, it's important to remember that these expenses will be due each and every month. Office expenses can vary greatly based on how much space you need and the area where you lease. Certain places in the central business district of Singapore can cost thousands of dollars each month. Having a huge expense like this to pay every month can prevent you from having adequate cash flow as your business grows. 

Most providers charge a deposit up front to cover any damages that your employees might do to the premises. Monthly insurance on your equipment and fixtures is also necessary and should be included in the budget. Once you decide the budget for your office space in Singapore, be sure to include any monthly bills such as Internet fees, electricity, water, phones and other similar expenses. Employee salaries can also take a big chunk out of any budget. 

Inexpensive Areas of Singapore 

If your company can manage without a store front in Singapore's popular business districts, then searching around suburban areas can be a good idea. The further you get away from the city center, you generally find lower priced office space and there is usually a better availability. Though everyone wants a fancy office in the best part of town, most financial experts recommend not using up all your cash on these common office expenses. You must reserve cash to buy inventory and pay employees. 

When a company is first starting out, it can be very worrisome to have numerous extremely high monthly expenses. Therefore, it might be more advantageous to work with a serviced office provider. This allows you to get luxurious office space that is already equipped with high quality furnishings, features and employees. 

Get the Features That Matter to You 

Leased office space allows you to get the perfect size office space but it's easy to increase this as your company grows. Your monthly expenses are very predictable. That's good news for your budget and there won't be any unpleasant, expensive surprises. Leased office space is flexible and designed to meet the needs of growing businesses. You won't be disappointed by the value you receive for the money you spend especially if you work with Servcorp in Singapore. Our staff members are highly trained and this takes the pressure off you to hire and train new employees. You can focus on building a successful company instead. 

Leasing Business Office Space 

If you're new to the Singapore region, serviced office space can help you get established in the business community and Servcorp Serviced Offices offer the very best. As a global leader in leased and virtual office space, you can choose the features and amenities that are important to you.  Get fully furnished offices, high speed internet, excellent communications, luxurious surroundings, trained personnel, meeting rooms, board rooms and much more. Please call +65 6690 6161 to tour our facilities in Singapore. We also provide luxurious leased office space in 140 countries around the world.