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Monday, June 24, 2024

What’s Next For Businesses That Outgrow Their Office Space?

As businesses grow and expand, it is not uncommon for them to outgrow their office space. This can be a challenge, as a lack of space can hinder productivity and limit the potential for growth. However, there are several options available to businesses who find themselves in this situation. Here are just some useful options available to businesses who have outgrown their office space:

Switch to full-time remote working

One option for businesses who have outgrown their office space is to allow employees to work remotely. If it’s right for your type of business, remote working can provide flexibility and reduce the need for physical office space. This option can also allow businesses to tap into a wider pool of talent, as employees can be located anywhere in the world.

Even for companies which don’t work remotely full-time, many employees want to work remotely at least one day a week. Those who work remotely also have higher job satisfaction. As remote working is here to stay, there are many business owners now investing in ways to create flexible work environments.

However, remote working can present challenges, such as difficulty maintaining communication and collaboration among team members. There is also the risk of reduced productivity and a lack of accountability when employees are working remotely.

Move to a bigger office space

Another option for businesses who have outgrown their current office space is to move to a larger office environment. This can provide more space and room for growth, as well as the potential for new amenities and improved facilities. Moving to a larger office can also enhance the professional image of the business and help to attract new clients and employees.

Yet, moving to a larger office can be expensive and time-consuming, and can disrupt the day-to-day operations of the business. So you will want to consider whether this is a suitable option for your company right now. There is also the risk of choosing a location that is not ideal for the business or employees.

Reorganise your current workspace

 If moving to a bigger office space or switching to remote working just isn’t for your company, you may just want to consider utilising your existing space better. Rethink your current workspace and perhaps consider optimising the layout of the office, implementing hot-desking, or using shared workspaces to reduce the need for individual offices.

When choosing your initial office space, it’s always important to consider how it could accommodate future growth of your company. Whether you are wanting more space for collaboration or want more privacy and separation between desks, you will have to consider your office layout to see which furniture and design options fit in with your available floor space.

While this option can be cost-effective and provide opportunities for improved communication and collaboration, it can be difficult to implement significant changes around busy day-to-day business operations.

Get a second premises

Another great option for businesses who have outgrown their office space is to get a second premises. This can provide additional space and flexibility and allow businesses to expand their operations. Having multiple locations can also provide jobs in the area and share out workload if the initial premises are starting to get overwhelmed.

But getting a second premises isn’t for everyone. Firstly, it can be very expensive and not every business may be able to manage purchasing a second company location, even despite their business growth. Secondly, while managing one location can be time-consuming and demanding, it can be even more complex to manage two at the same time. Businesses seeking this option will need to consider all the pros and cons of this before expanding their business with a second premises.

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