If you have dreams of starting your own business, then you have likely given some thought to all of the different costs involved with doing so.
You may need to purchase new equipment, create some marketing materials, pay for advertising and even finance a vehicle or two. The list just goes on and on. After all of these things have been paid for, it might not leave an awful lot of money for you to start renting some much needed – but expensive – office space too.
Fortunately, there are various ways by which you could get the office space you need without spending a fortune while you get your business off the ground.
Here we’ll discuss just 3 ways to get some office space on the cheap.
Creating an office at home
One of the best ways to save money and keep office costs to a minimum when you first start a business is to create some office space in your own home. Do you have a spare room or a garage that you could turn into an office, for example?
You may need to spend a little money paying an electrical contractor to install a few sockets or some extra lighting, but when compared to renting private office space the costs of doing this and also buying budget office furniture and equipment, should work out to be much, much cheaper.
If you’re looking to work from home you may even find you can save money by including the following in your tax bill: utility bills, rent, mortgage costs, and a number of other costs. HMRC have a list of examples, but if in doubt it can often save you money in the long run to consulting with an accountant.
Renting a desk in an existing office
If you really don’t like the idea of mixing your home life with work then there are still some budget options available to you to get the office space you need, without having to rent a whole office yourself.
You could consider renting a desk in an existing office for example. There are many companies out there who will allow you to rent a desk area in a large office block with telephone lines, Wi-Fi and other facilities already set up, so you can just get on and work.
The monthly fee for renting this kind of space will often be much cheaper than renting a full office all to yourself.
Renting space in a storage unit
One outside of the box suggestion you may not have considered is that of renting some space in a self-storage unit and working out of there. Many more people are using these units as office spaces these days as they don’t come with too many commitments in regards to long-term leasing.
Storage units also come with all of the facilities you need to run a business, with one big advantage being that you can easily increase or decrease the amount of space you pay for as your business grows or streamlines, meaning you are never left paying for office space that you don’t really need.
As we can see then, it really is possible to keep the costs of running a business down if you are willing to make a few sacrifices or think a little bit outside of the box when it comes to getting the office space that you need.