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Office Space: To Lease or Not to Lease?

office-space

TCC Canada

Office Rental Is Not the Only Solution for New Small Businesses

It was once that if you wanted an office, rental or leasing—a long-term commitment—was the only way to go. However, as the way we do business evolves, so do our needs, and those that supply are more than aware of the demand. That’s why modern office space is often available on a per-use basis. You can pay for the time and the features that you use, while not committing to a long-term tenancy. You get access to executive suites, meeting and conference rooms, co-working spaces, and can even use virtual assistant services wherever you’re working from.

So are you better off signing a lease on an office, or paying on a per-use basis? Well, it depends on your business and its needs.

Benefits of Office Rental

Renting your office space has many benefits, particularly for businesses with ten fulltime employees or more. It helps keep your work life and personal life separate, and makes collaboration and discussion more straightforward when you can address coworkers face-to-face any time you like. It also makes your business appear more professional, and allows you to always make sure that your employees are being productive while helping build a closer relationship with the people you work with every day.

Benefits of a Per-Use Office

If your business is just starting out, you may not have the money yet to cover the overheads associated with leasing an office—and it may also be difficult to justify the expense when it’s just you and your best friend starting a small business online. As your business grows, you’ll want to move into more permanent accommodations, but in the meantime you may occasionally need a space that lets you meet with clients and investors, conduct interviews, hold meetings, or even just occasionally get away from the endless distractions of home (how can you possibly get work done when all five seasons of Breaking Bad are just sitting there on Netflix, waiting for you to watch them?). This can give you a professional appearance when it counts without having to make a commitment that your business just isn’t ready for yet. Having a space that provides for these needs which you can use at any time while keeping it within your budget is an invaluable asset to any business just starting out.

So what kind of office space solution is right for you? It depends on the size and needs of your business, your budget, and other factors—in the end, only you can make the right choice for you. But rest assured that whatever your business needs are, there are accommodations for you, whether they’re full office rental or pay-per-use spaces.

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