With Brexit slowly but surely approaching, office space prices in London have registered a decrease in the last few months. The uncertainty that such a major change brings to the market has made businesses more cautious which is why some companies in the country have even decided to move their businesses elsewhere just in case. But even with that price fall, renting an office in the English capital continues to be a rather expensive venture.
If you want to move your business to a new office but you are on a very tight budget, you will need to use cost-efficient business relocation services in London such as those provided by Rabbit Man and Van’s skilled and vetted team. You will also need to consider the budget-friendly options you have in front of you:
- Focusing only on London areas that offer affordable office rentals for businesses
- Joining a business incubator
- Renting half of an office or even just one desk
- Running the business from a more improvised working environment
Be warned, however, that these solutions are not applicable to all companies. If you need to regularly meet with clients and business partners or if you have a big team of people, you may need to stick to a more traditional office arrangement.
Commercial rental costs vary from area to area
Having an office in the City or on Square Mile sounds very prestigious but such a prestige is always terribly pricey. So, you may have to relocate your company to a district that is generally more affordable or which does not enjoy a great popularity among business renters. Clerkenwell and Islington top this list since they do not offer any flashy or contemporary office space. But don’t let that fact stop you. You can easily rent or even buy a warehouse for a good price and mould it into anything you want, including into an office. Other London areas where you can find inexpensive office space or office space alternatives include Bayswater, Southbank and Shepherd’s Bush.
Share the rental burden
What do people do when they cannot afford to rent an entire house or flat all by themselves? They look for roommates, of course! In that line of thoughts, you should consider teaming up with another small business and rent an office together. Another great option is to set your business in one of those co-working spaces. There you can rent several desks (or even just one) for a fraction of what you will need to pay if you rent an office in London.
These days, there are plenty of business incubator organisations and many of them work in the English capital. Research if you can join such a program (usually, you need to own a start-up company). If you succeed, you will get professional help on many different levels (access to fast internet, training programs, networking services and more).
Think outside of the box
If you are running a small company that has only a handful of employees, you can try some temporary solutions such as working from libraries or coffee shops. With the power of technology, you can even work from home. So, don’t let London’s high rental costs intimidate you.