The real estate business is definitely unpredictable. I remember how this industry flourished and suddenly plunged when recession hit the world economy. Many brokers, sellers, and space owner suffered from this big blow. We saw and heard news of companies closing and vacating their spaces, homes sold at drop down prices, and properties were foreclosed or being auctioned at very low rates.
It was a very hard time for this industry as they struggled to keep their footing on the business world. Many deliberately gave up their real estate business. And for those who wanted to stay, they were forced to downsize every aspect of their business and seek for ways to somehow make it to another day.
But as they say, every struggle is an opportunity in disguise.
With many companies forced to closed or downsize, owners small and medium enterprises (SME) grab the chance to enter the competition and create their new hub. These new breed of entrepreneurs are street-smart and practical. They wanted to establish their trade in a cost-efficient way. And with these new business owners try to gain solid ground in the industry, space owners became creative to heed the needs of SMEs and provide them with the physical space they need to start their business, hence, the serviced office space.
Creating serviced office spaces was a risk for the space suppliers as they will challenge the old belief that a business should have a more permanent workstation to operate. The trial-and-error phase was as difficult since they were still trying to convince businesses to try the new office space solutions. It started as a mere desk and a phone. Eventually, it evolved into a more appealing alternative for businesses. Now even banking institutions, mining and energy sectors are looking into the serviced offices. And much better news that more and more business centers are being constructed and are offered in different prime locations in different countries. In the United States and other European countries, serviced offices are quite popular and it definitely gives the real estate business a boost as they helped on decreasing the vacancy rate of the spaces.
And with that, the real estate business is in the game.
The service office market is continuously growing. Little by little, other fields become aware of the benefits it provides. Cost is the number one factor why more and more commerce go for this kind of office space. If your business is a startup and you are looking for a space, it is a much safer alternative in so many levels. Buying or renting out a big space can drain your resources and the unused space will be a waste of money as well. With serviced offices, you can just get the space that you need complete with all the things you need to run your business.
Flexibility is another thing that this office solution offers. Traditional offices can drag you down with the long term lease. But serviced offices can give you the space with a minimum of one to three months lock down. Project-based companies are quite lenient to this since they don't have to rent the space for a long period.
It was a very hard time for this industry as they struggled to keep their footing on the business world. Many deliberately gave up their real estate business. And for those who wanted to stay, they were forced to downsize every aspect of their business and seek for ways to somehow make it to another day.
But as they say, every struggle is an opportunity in disguise.
With many companies forced to closed or downsize, owners small and medium enterprises (SME) grab the chance to enter the competition and create their new hub. These new breed of entrepreneurs are street-smart and practical. They wanted to establish their trade in a cost-efficient way. And with these new business owners try to gain solid ground in the industry, space owners became creative to heed the needs of SMEs and provide them with the physical space they need to start their business, hence, the serviced office space.
Creating serviced office spaces was a risk for the space suppliers as they will challenge the old belief that a business should have a more permanent workstation to operate. The trial-and-error phase was as difficult since they were still trying to convince businesses to try the new office space solutions. It started as a mere desk and a phone. Eventually, it evolved into a more appealing alternative for businesses. Now even banking institutions, mining and energy sectors are looking into the serviced offices. And much better news that more and more business centers are being constructed and are offered in different prime locations in different countries. In the United States and other European countries, serviced offices are quite popular and it definitely gives the real estate business a boost as they helped on decreasing the vacancy rate of the spaces.
And with that, the real estate business is in the game.
The service office market is continuously growing. Little by little, other fields become aware of the benefits it provides. Cost is the number one factor why more and more commerce go for this kind of office space. If your business is a startup and you are looking for a space, it is a much safer alternative in so many levels. Buying or renting out a big space can drain your resources and the unused space will be a waste of money as well. With serviced offices, you can just get the space that you need complete with all the things you need to run your business.
Flexibility is another thing that this office solution offers. Traditional offices can drag you down with the long term lease. But serviced offices can give you the space with a minimum of one to three months lock down. Project-based companies are quite lenient to this since they don't have to rent the space for a long period.
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