Avoid the hangover, check your office lease

Posted on December 31, 2008 at 9:30 am by Alan

Tonight is New Year’s Eve, where we all celebrate, spend too much, drink too much and tomorrow we pay the price with the hangover of all hangovers. This scenario is much like the credit crunch. The banks lent many of us too much money, we all celebrated, and borrowed more than we could afford and now we’re all paying the price with a financial crisis that is gripping the world.

At times like these, as we are discovering, everyone pays the price. Large high street names are going under, even bank shares are no longer a safe bet and it is important at times like these to make sure that our business, whether large or small, does not suffer from the same hangover.

To survive, businesses must cut their costs and make as much money as possible. The cost of office space is a large cost on the bottom line, so it is important to either minimise this cost by perhaps reviewing the lease on your office space, moving to a cheaper serviced office or perhaps even by using a virtual office instead. Alternatively, if you are lucky enough to be doing well in this climate, then be sure that if you upgrade your office space that you make the best use of it that you can.

Every company wants the prestige of that London West End office address, but be certain it won’t cost you the earth.