29 Jan How to choose the best start up office space in London
The office space that you choose is one of the most important decisions you’ll make as an entrepreneur. You need a workplace that not only improves employee wellbeing but fits your overall business strategy.
The Coalface is, in many ways, the ideal office solution for SMEs, entrepreneurs, freelancers and large businesses, but is also an ideal solution for start-ups. Situated right in the bustling heart of North London, it offers flexible opening times, business-specific layouts and a great location that makes it easy to attract talent.
Are you a start-up and considering an office space for your business? Here are the factors you should consider:
The first thing to consider when choosing a start-up office space in London is how long you think you’ll need it. If you are anything like most start-ups, you need to get to scale as rapidly as possible, meaning that you need a flexible contract that doesn’t try to lock you down for a long period of time. After all, who knows where you’ll be in three, four or even five years?
Fortunately, The Coalface offers a solution for new companies looking for flexible working spaces. It doesn’t lock you into a contract or insist on minimum terms. Instead, it provides a flexible, all-inclusive service that you can use for as long as you require.
It can sometimes be challenging to know precisely how long you’ll need any particular office space as you expand your business. You don’t know ahead of time how things will eventually work out. Thus, The Coalface gives you the added flexibility you need to develop your enterprise according to market conditions, not the needs of your office provider.
Next, you’ll want to consider the layout. Think carefully about the type of working environment that you want to create in your new office space. If you run a creative business, for instance, you don’t want to go down the road of putting employees in pods and leaving them to their own devices. Instead, it would be best if you had open offices that encourage collaboration with plenty of meeting spaces where colleagues can share ideas.
If, however, your enterprise deals with confidential matters, you may not want to go down the open office route at all. Instead, private office spaces may benefit you and your team more. Separating workspaces and terminals helps to silo information and keep colleague-client interactions confidential.
Here, again, The Coalface can help. It offers start-ups both open-plan layouts and private rooms. Ultimately, the type of setup that you choose depends on the nature of your company and the services that you want to create. Your office environment can make a big difference in the overall effectiveness of your firm.
The location of your office is more important than you think. Employees don’t just want to work in offices that look nice and have plenty of amenities; they want to be able to get to them quickly too.
The first question to ask is whether the location of your new office is accessible. The Coalface, for instance, is just a couple of minutes’ walk from Finsbury Park station in North London, providing workers with a comfortable journey on the underground from most corners of the capital.
The next question is to consider which location is best for your firm. Do you need to be in among a particular collection of companies to get the talent and network effects that you need? Or are you in an industry where you’re free to choose where you set up based purely on cost?
The Coalface believes that North London is one of the best locations for start-up businesses. The area around Finsbury Park, Islington and Kentish Town is home to a high concentration of skilled young professionals – the perfect people to recruit to new start-ups. The local economy is thriving too, plus the tube provides quick access to the centre of London, without the need to pay expensive rents.
And the best bit? The Coalface is right in the heart of the action, providing your start-up with the office space that it needs in this thriving part of the city.
After you’ve settled on a location, the next step is to ask yourself what kind of amenities your office spaces needs and when you want it to open. The facilities at The Coalface include fully furnished offices, guest reception, super-fast, fully resilient managed internet service, meeting rooms, complimentary barista coffee and herbal tea, flavoured water, shower rooms, bike storage, daily on-site cleaning, mail services, pet-friendly working arrangements and phone booths. Not all offices (even those claiming to be all-inclusive) will feature all of these benefits.
Opening times are also crucial for start-ups, especially those with regular deadlines they need to meet. The Coalface, therefore, opens 24-hours per day, 365-days per year, allowing you to access it at any time, just like a regular office.
If you run a start-up enterprise, your primary goal in phase one is to scale your business, getting it to a size where it becomes self-sustaining, and you no longer need to rely on outside capital.
Reaching this stage, however, is a challenge. It often takes firms several years before they’re large enough to pay off debts and generate a profit.
Your choice of office, therefore, matters a lot. You need a space with extra capacity to accommodate your enterprise as your firm grows in size. The bigger you become, the more computers, desks and internet bandwidth you’ll need.
Many start-ups get into trouble when they rent an office from a provider who locks them into a multi-year contract – a common practice in the industry. Their team grows beyond what their office can accommodate, but they can’t move because they’re locked into a fixed term.
The Coalface is, in many ways, the ideal solution. Not only do start-ups get a full service, but they can also expand into new areas, should they require. What’s more, the absence of long-term contracts means that entrepreneurs can use The Coalface flexibly instead of having to manage their workforce around the constraints of their offices.
If you are a start-up, freelancer, entrepreneur, SME or large business and are looking for an office space, The Coalface is the ideal office solution. Book your tour today.