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The Top Questions to Ask Yourself Before Renting Office Space in Singapore

February 25, 2016 | Sharon Cheong

Singapore welcomes all types of businesses each year from all over the world, and many do come to Singapore looking for success. This has resulted in some new companies springing up to meet the needs of new business owners. From consultants to office space providers, business owners need all the help they can get in the competitive atmosphere of this region.

For example, business owners often need to purchase or lease equipment, machinery and office or manufacturing space. As with all things, it is best to do your homework and make sure that you work with only honest people. Make sure any company you are thinking of dealing with is honest and will provide excellent products and services. You can do this by checking business reviews online or speaking with others in the area who might be acquainted with the vendor. Before you begin the search, ask yourself these questions:

Can You Afford the Monthly Expenses?

One of the main questions with any business ventures surrounds your monthly expenses and cash flow.  You not only have to consider the monthly cost of the office space itself, but you will also have to buy furniture and equipment. Add to that the cost of utilities, Internet and phone service, and then, of course, you'll need to hire new employees. Be sure to ask yourself or a business partner whether your company has adequate resources to meet these monthly expenses. Once you sign a contract for office space, that expense along with many others will come due every month and can be a real drain on your cash flow.

Would a Coworking Space Be a Better Solution?

Co-working spaces have become very popular in Southeast Asia because they are economical and yet do provide a professional environment where you can get some work done each day. You can rent as much space as you need and you can work there whenever it is convenient or necessary. Though this is a very economical solution, it does not offer much privacy. In a co-working space, you are often working alongside others in one large room that makes it difficult to focus. This does work for many small startups, but eventually, you will need something more permanent that provides better privacy.

Have You Thought About Leased Office Space?

Another popular option in Singapore is leased or virtual office space. In this scenario, you can rent a day office for a few hours per day or a few days per week, whatever best meets your needs. It is important to check with the provider to determine what services and equipment will be included. For instance, some providers have phone service, mail service, receptionists and other amenities. Check with the supplier to see whether you will need to sign a long-term contract. This is usually not a good idea because you never know when or how much your business may grow. If you are successful, you may need to move on to a dedicated office space within a year or so.

Shouldn't You Work with the Best Providers?

Why take chances with the second rate leased office space providers when you can get the best for the same money? Servcorp Serviced Offices understand the needs of business owners in Singapore. We offer all the services and features you need to become successful. You can get a dedicated receptionist who is bilingual and reliable high-speed Internet, along with many other services. We do not require you to sign a long-term contract. We believe you will appreciate the Servcorp difference. Our pricing is very competitive, and our virtual office space is top-notch with luxurious furnishings and exceptional amenities. Please call +65 6690 6161 to learn more or tour any of our facilities in Singapore