Entri AdminHaving a professional address and a landline for your business, are two key ways you can establish a presence in the market. However, spending a small fortune every month on elite office space is not a feasible option for most SMEs, particularly startups. It might also be a challenge to stick to a routine at home, or too distracting to work at bustling coffee shops. Luckily, there are many cost effective alternatives that cater to the needs of Entrepreneurs. Here are our three favourite workspaces to consider for your growing business.
Co-working, or shared spaces, offer a distraction and noise-free environment. You can rent anything from a hot desk to a private office for you and your team. These spaces are usually equipped with printers, meeting rooms and fast WIFI. Shared spaces allow you to cultivate an environment where Entrepreneurs can collaborate and network. This creates a space in which everyone is able to bounce off each other’s energies and ideas. In addition, you never have to worry about maintenance or upkeeping the space, as it’s included in your rent.
Find the closest co-working space near you here.
This is one of our favourite options at Entri. A virtual office means you have a physical address, but you don’t physically work there, making this one of the cheapest options. So, how does it work? You receive a physical address, where your mail can be sent. You also get a dedicated landline for your business, as well as a receptionist, who will answer your calls with your business name and take messages on your behalf. You can then return calls in your own time.
Virtual offices are available in prestigious areas, like Sandton or Cape Town’s Waterfront. This option is a fraction of the cost of other workspaces and will instantly give your business a professional edge.
Virtual offices are a great option for Entrepreneurs who are starting their business as a side hustle, as well as Entrepreneurs working from home. Companies, such as Cube WS, offer flexible monthly pages starting from R500 per month. Regus also offer rental of just a professional address, without the landline and receptionist from R274pm.
If you have a small business that still needs a lot of development, an incubator programme may be your best solution. Having an experienced hand to guide your startup step-by-step is invaluable, and will quickly help your business become sustainable.
Different incubator programmes provide different benefits. These include office space, internet access, business tools and software, mentorship and coaching programmes, and networking opportunities. Some incubator programmes may be tailored to certain kinds or sizes of businesses that they feel has the potential to grow.
You can find various incubator programmes listed here on Entri. Most of these entries provide specific working environments geared towards fostering fresh business ideas and rapid growth. Incubators ensure that you are constantly surrounded by like-minded Entrepreneurs and SME’s in a creative and inspired space, with an immense potential for future collaboration and longstanding connections.
Choosing a workspace for you and your team is an important decision for any SME or startup. Begin by weighing up the pros and cons of each option, alongside the relevant factors specific to your business, product or service. Consider how much you can afford to spend on a premises each month, as well as whether you can operate solely in cyberspace. You also need to think about the size of your team and the possibility of expansion in the future. Whatever your choice, make sure your business’ needs are met, while being the most cost-effective and sustainable solution for your burgeoning business.