It’s expensive to start a business these days? in 2009, the Kaufmann Foundation estimated that the average cost to begin a new startup was $30,000. Although many of these costs are tax deductible (up to $5,000 in the first year of business), many are not. One of the most prohibitive elements of starting up a business is the cost of a location — it’s no wonder Steve Jobs and Steve Wozniak started Apple Computers out of a garage. Eighty percent of the costs of a location go towards operational and lease costs, adding even more to the complications. What to do?
Many of the costs of an office can be reduced through a variety of options. Temporary office space rental is one such way. Through temporary office space rental, you rent the right to access a shared office space on an as-needed basis. This may include executive suites for rent, a coworking office space, reception and administrative services, phones and conference rooms, and many other resources. These solutions are ideal for housing businesses where much of the work can be done off-site, such as businesses in the mobile or web industry.
Virtual office spaces are yet another option for those trying to save money in business. In the case of virtual offices, there is no physical space necessarily being rented — simply a mailing address, phone services, and other services that do not require a physical location. If you are not looking to find office space, only a virtual office space in NYC that can enable you to professionally handle business without breaking the bank on a physical location, this option may be for you.
Your workplace should serve the needs of three groups of people — you, your employees and your clients. By investing in temporary office space rental or virtual office space, you can potentially save a great deal of money while also avoiding the complications of maintaining a permanent office.