Selecting The Right Office Space Now Easier For Small Businesses

Tuesday, March 1, 2005

j vedo _— 5 {3 A HIQUOLE Yjo veh te bw \ WH NA Inerqsp . ‘ SM WK 1h ayy IN UH ‘NWewvyv: f\ viqveod v4 eT @ Wowk owt vit wy d a fh Samess Us bhj INWotes ))":Sh k Selecting The Right Office Space Now Easier For Small Businesses (NAPSA)—Rentingoffice space, especially for the first time, represents a major milestone for most al an small businesses. Now, thanks to a Website, Offices2share.com, it may be easier for a small or start-up businessto find the right office space for its needs. Experts suggest that once a small business starts to hire employees, it’s also time to start looking for office space. Many agree that a flexible lease is the most important thing to look for when taking that step. In fact, some believe a small busi- ness renting its first space should never consider an initial lease term of more than 12 months, no matter how enticing the landlord tries to make a longer-term deal. A longer lease term could become a problem for your business and for you whetherthe busi- ness is successful or not. For example, if your business doesn’t succeed, you may beobli- gated to continue paying rent for the entire remaining term of the lease. Obviously, the longer the lease term, the longer the ongoing personal financial obligation based on a business that no longerexists. If, on the other hand, the busi- ness is successful and experiences rapid growth, it can also have a problem if locked into a long-term lease. That long-term lease on overcrowded space mayrestrict the company’s ability to attract and hire new employees. space rent an entire floor or two in a well-located office building and subdivide that space into a large numberofoffices for rental to individual businesses. These individual offices range in size from about 100 square feet (suitable for one person) to several hundred square feet (suitable for up to five people or more). In most cases, these A long-term lease on overcrowded space mayresirict a company’s ability to attract and hire new employees. For many, the answeris shortterm, ready-to-use office space— typically, an executive suite or a shared or sublet office space. A Website called Offices2share. com lists information on thousands of these type of spaces. Businesses looking for space can find ready-to-use offices with shortterm/flexible leases. These types of spaces are ideal for start-ups and entrepreneurs as well as established companies needing shortterm space to test new markets or other short-term project needs. An executive suite is a professionally managed provider of shared office space, meeting rooms and business/administrative services. Often, the managers of such offices are furnished, carpeted and pre-wired for telephones and high-speed Internet access. Additionally, tenants will have access to conference rooms, office equipment and services such as a receptionist, telephone answering, videoconferencing and secretarial/administrative services. There are no up-front construc- tion or renovation costs and, most importantly, there is usually flexibility in the length of the lease term. These offices are typically rented for six to 12 months at a time and many executive suites will rent for a lease term as short as three months or even ona month-to-monthbasis. For those businesses that aren't quite ready to rent an actual office space, most executive suites can offer a “virtual office” package which consists of a prestigious mailing address along with such options as telephone answering and the occasional use of a conference room oroffice. To learn more, visit the Web site at www.offices2share.com.

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