October 20, 2015 | Sharon Cheong
A clever startup business in Singapore can quickly turn into a profitable business venture, but many new entrepreneurs struggle to find adequate office space. Some believe it's necessary to go forward with leasing space, furnishing it and hiring employees, but this is often a dangerous mistake. For one thing, these types of expenses are monthly and will take a huge chunk out of your budget. Hiring good employees is especially expensive and then you have to train them, give them benefits, such as insurance and hope they will stay with you for the long-term.
Don't Use Up All Your Cash
All this not only takes away much of your cash flow, it also costs time and causes stress. Managing employees alone can become a worrisome task that saps all your time and energy each day. That's why many experts recommend waiting to take this step until you're fully prepared for it. You must make sure your company can handle the regular costs and the additional tension. If you take this step before you're ready, then you can greatly slow down the progress of your company's evolution. You'll be focusing on employee disputes and high weekly bills instead of concentrating on building a great company.
Economic Development in Singapore
Leasing or buying property in Singapore can be expensive. This is one of the top global locations for investors, expats, and startups. Foreigners are very restricted on the types of property they're allowed to buy. Purchase of commercial property requiresapproval from the Controller of Residential Property Land Dealings. Though economic development in Singapore has been strong for the past 50 years, it can be helpful to get professional advice from accountants, consultants or lawyers.
Leased Office Space is the Simple Solution
The solution to your office needs is simple. Leased or virtual office space gives you all the perks of having your own office with none of the headaches. You can get a dedicated receptionist, IT and HR services, mail and email forwarding, plus a prestigious address for your letterhead. If you have a big meeting coming up with investors or clients, then you can reserve a board room that truly impresses your visitors. The offices are attractively furnished and equipped so that you can start doing business the very first day.
Get the Features That Matter to You
The beauty of leased office space is that you can get the size office that works for you and then increase this as your company grows. Another attractive feature is that your monthly expenses are very predictable. That's good news for your budget and there won't be any unpleasant, expensive surprises. You can get space for one hour a day or eight hours; it's up to you. Leased office space is very flexible and designed to meet the needs of growing businesses. The services are professional and each staff member is highly trained. This takes the pressure off you to hire and train employees and leaves you free to concentrate on creating an amazing, successful company.
Leasing Business Office Space
Singapore offers so many rewarding financial opportunities for new startups, and many large corporations now have an offshore presence there. As a major world economy, it attracts savvy people who are ready to take the plunge and become business owners. It does require an investment in time, money and hard work, plus Westerners are not accustomed to many of the unique traditions in Singapore. These are just a few of the reasons why leased office space is the right answer for new startups. You'll have a top quality place to do business without all the worries of traditional office space rentals.
If you're new to the Singapore region, this is the best way for a new startup to get established in the community. It's easy to get set up and Servcorp Serviced Offices allows you to choose the features and amenities that are important for your business growth. 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 get underway.