Whether you are looking to expand an established software company, you’re stepping out into the business world as a tech start-up, or you’re looking to increase profits as a burgeoning business, sharing office space with another company can provide a vast array of benefits. We will discuss a few critical ways that sharing space can create business opportunities, cut expenses, and put your company ahead of the competition.
Dramatically Reduced Overhead
The primary reason to get involved in a shared office space is the immediate financial boost you’ll receive by sharing costs. You’ll save time and money by moving into an already established office with furniture in place, and most shared offices provide services critical to software contractors like high-quality WiFi, printing equipment, and phones. Plus, if your software engineering group is a small, tight-knit team, you can negotiate a limited, flexible area to keep costs low.
Nothing creates trust and fosters swift, accurate communication like being next door to a big client, and if you develop a wide range of software or share space with a company in your industry, you’ve opened up a world of cooperative opportunity. Shared offices report a high rate of compatibility with their corporate neighbors, and that can lead to innovation, cooperation, and increased profits for both companies.
Certainty and Security
Software contractors understand that physical and digital security is critical, and data must be protected at all costs to give clients peace of mind. When you share an office space, high-tech safeguards like keycard or thumb-print entry are in place, and you often have a 24/7 security guard keeping the premises safe.
Flexible Leasing Options
Along with the decreased overhead, a shared office space gives flexibility to your leasing contract for short or long-term use. Some software companies may need a temporary location for a larger project, and they may need to downgrade back to a smaller office or a work-from-home setup once it’s complete. Alternatively, if you find that you’re ready for a space of your own, a flexible lease affords you the opportunity to pack up and set up shop in your own building.