In the past, managers often had to commit to long-term contracts in order to get the office space they wanted. In some cases, this worked out OK, but in others problems arose. After all, it can be difficult for bosses to predict future demand for their firms’ good and services and they may find that they outgrow their working environments or, conversely, can no longer afford to keep up with their rental payments.
Thankfully, it’s now possible for companies to take advantage of short-term leases on premises and this can make managers’ lives much easier.
Indeed, serviced offices like this may be particularly welcome now. According to research conducted by Barclays, bosses in the UK are feeling particularly nervous about making important and long-term business decisions.
Of the 1,000 senior decision makers in small to medium-sized enterprises it polled, 51 per cent said the tough economic environment has affected their approach to making business decisions. In addition, 27 per cent revealed that market uncertainty has made them much more hesitant about longer term decisions.
Commenting on this, managing director of Barclays Business Banking Sue Hayes said: “At the time of making important business decisions it’s only natural to be scared of getting it wrong. It can feel like you are taking a big risk – whether that is decisions about staff, products, finance or even your marketing strategy.”
By taking advantage of short-term leases on their office spaces, bosses can alleviate some of the pressure they face. They can also avoid contractual complications in the future.