Contributed post
Finding the right office space for your business can be hugely daunting, especially if you aren’t really sure what you want. Unlike looking for residential property your new space won’t just be about how you and your family feel – remember this space needs to work for your business sector, employees and clients too! Like any big property move it can be stressful, so we have outlined the four key factors you should take into consideration to help narrow your search.
Location
Location, location, location! How do you narrow down which district you should base yourself in? Firstly it is good to take into account the location of your competitors and the local labour market. If you are a client facing business, you might want to think about the image and reputation of the area as this will have a big impact on how your potential clients see your business. If you are a large company, and expecting clients to visit your property it might be an idea to look for an office with good public transport and amenities close by.
Costs
Let’s face it, your budget is going to have an impact on what properties are available to you. Your initial concern will undoubtedly be the yearly price of rental and the deposit. But don’t forget to take into account all the other running costs which can easily mount up – energy costs, furniture expenses, insurance costs, any legal fees, IT expenses, removal costs, temporary storage, agent fees, and even stationery costs – after all, you will need to update your letter headed paper, business cards and such like with the move.
Office Space
There are so many things to consider outside of the square footage of your new business address. A good thing to do is write down all the questions you want to ask on your way around. Here are a few to help get you started. Will you have access to the building outside of normal office hours? Will you need to implement any extra security? Who manages day-to-day operations? From parking and permissions, to outward views and floor levels, there is a lot for you to evaluate before making a decision. One key consideration is whether to go for a traditional office or a serviced office.
IT and Telecoms
Finally, you need to consider IT and business telecoms. You need to get your business quickly connected – this is the twenty-first century after all! Make sure you check whether the power supply is enough to suit your IT requirements, some older properties especially haven’t been designed with this in mind. Also, don’t forget your cabling requirements!
If you keep some of this in mind it will really help you find the best office space in Hong Kong for your business. If you are feeling a little overwhelmed by it all do have a chat with your agent or broker. They should help clear up any concerns you may have and make the whole process a lot less stressful.