Serviced Offices
Get connected with a serviced office
March 17, 2010 - 8:07 am
In a networked economy, business success is often related to becoming linked up to services, opportunities, knowledge sources and firms. Since the advent of the internet, virtual networks can form some of the necessary linkages, but that does not mean more material connections should be ignored. Obviously, a lot depends on the type of firm, but many firms can benefit from physical connections. A business which is located close to excellent transport links has a tangible advantage over some of the competition.
Staff may often be required to get to other places swiftly. At the same time, clients will appreciate it if a firm is easily accessible. In addition, if a firm has to use courier services frequently, it will save resources if it is located in a convenient spot. An address which is near a major transport hub may also be positive in terms of the image of a firm. It suggests that a firm is going places. In the past, some people may have simplistically maintained that globalisation is making distance irrelevant, but the need for trust in business means that face-to-face interaction is still crucial on many occasions.
It is therefore clear that the imperative to be situated close to efficient transport links has not gone away. With congestion still a significant problem for many office locations, a serviced office near an underground station can be a considerable boon, for example. Serviced offices in London can provide the high quality transport connections which are effectively a short cut to prosperity.
Serviced offices in the creative city
March 14, 2010 - 10:03 am
Experts like Charles Landry have ensured that the potential of the creative industries to contribute to economic development has been widely accepted. In particular, Landry has promoted the idea that innovative firms can be at the economic heart of a creative city. In the past, there may have been those who saw the arts as entertaining the upper echelons of society. Nowadays, the regeneration possibilities linked to modern creative industries are commonly recognised.
Cultural quarters are now common features of British cities. Most of these cities also have creative sectors. However, it would be foolish to pretend that the creative industries are evenly distributed across the British territory. For various social and economic reasons, there is a tendency for creative industries to be concentrated in specific neighbourhoods of certain cities. When thinking of British cities, many authorities can plausibly claim their city is creative, but only one set of city politicians can contend that theirs is the creative city of the nation.
The creative industries largely foster economic growth in the same way as other economic sectors. In addition, though, they sometimes become one of the reasons why employees in other industries choose to live in a city. This phenomenon can arguably be observed in vibrant London.
Using a serviced office in London or other appropriate city permits a creative firm to be where other creative firms are thriving. Contacts are there to be made and when the serviced office is left behind in the evening, networking can continue at a prestigious cultural event.
During economic uncertainty, pick a serviced office
March 13, 2010 - 12:02 pm
Economist John Kenneth Galbraith (1908-2006) once compared economic forecasting with astrology in terms of its reliability. His mocking comparison has arguably been justified in recent years and the British economic outlook remains particularly uncertain. Firms have to be especially flexible during periods where opportunities and challenges are particularly awkward to assess.
It could be argued that the modern history of economic development has been a narrative of booms and slumps. However, there have been periods of relative stability. For example, between 1950 and the end of the 1960s there was a period some economists have labelled as a ‘Golden Age.’ More recently, in the British context, there was quite a stable period in the decade that followed 1995. During relatively predictable economic times, the tools policy-makers use to manage the economy often work well. Despite this point, economic imbalances can develop which bring the stable era to an end.
At the current moment, it is problematic for businesses to know where the UK economy is headed. Much depends on what happens to other major advanced economies. It is also important to acknowledge that some economic sectors are likely to do better than others. There are many ways in which firms can show flexibility. For example, they may make greater use of temporary staff.
Serviced offices are ideally suited to firms that want to be able to adjust quickly to new opportunities as they arise. Their affordability means that serviced offices enable capital to be invested in other aspects of expanding firms.
Proximity matters to competitiveness
March 10, 2010 - 9:57 am
For over a century, economic geographers have known that proximity matters to firms engaged in similar economic activities. More specifically, Michael Porter has suggested that what he describes as clustering can be a key component in enhancing economic competitiveness. Firms that specialise in certain industries can have their performance boosted by being located in a milieu with a tradition of success in the sector. Collaborative opportunities and access to other competitive advantages can accrue to firms in a cluster.
Serviced offices in a globalising location
March 8, 2010 - 9:25 am
Globalisation is a complicated and multidimensional process which is much older than some commentators have contended. However, throughout most of its recent history London has been a globalising city. Economic decisions made in London have had implications for diverse places on an international basis.
Since the 1970s, cities like Detroit and Leipzig have been ‘globalised.’ Their populations have been reduced, their economic bases eroded. Attempts at regeneration have not stopped them from being really vulnerable to each dip in the international economy. Decisions about their future are often made elsewhere. In contrast to these cities of decline, London is well placed to take advantage of economic upturns at an early stage.
It makes sense to locate a firm where it is likely to be able to exploit emerging opportunities. London is a dynamic centre with plenty of human capital. In the modern economy, human capital is a key determinant of a firm’s potential. Attracting and retaining the right personnel is central to sustaining economic success. Moreover, the variety of office options in London means that all types of firms can find something suited to their specific needs.
Serviced offices around UK cities come with various benefits. Choosing to acquire a serviced office in London is a positive choice for a multiplicity of reasons. Just having a London address can be an asset, but owners or managers of ambitious firms will realise that being situated in a globalising location could well have a transformative impact on their economic fortunes down the track.
Don’t be tired of life
March 7, 2010 - 9:18 am
Back in 1777, Dr Samuel Johnson may not have realised how famous his great saying – “When a man is tired of London, he is tired of life”) – would become. Firms located in the London of 2010 know the multiple advantages that their choice gives them. Depending on their sector, these firms capitalise on the various benefits of being in a capital city. The relative advantage of being situated in the capital in Britain is often greater than the advantages associated with being in the capital of other nation states.
Critics of contemporary British society like geographer Doreen Massey sometimes complain that it is too ‘London-centric.’ They argue that the concentration of economic strength, political power and cultural dominance leads to excessive inequalities. However, firms which elect to do business in London are well placed to exploit the opportunities which are available. These firms can network in an area where networks are dense and social capital is high.
Not every firm reaps rewards simply by being in London, one location does not suit all, so a cost-benefit analysis can make good sense. Yet it should be noted that many firms and workers who have worked in London are very loyal to their city. This loyalty reflects the positive experiences they have had. The unique position of London in Britain is underlined by the evolution of its own governance framework.
Using serviced offices in London can be a great way for a firm to establish itself in the city. Once you have used serviced offices in the capital, you may be reluctant to leave them behind.
Serviced offices: providing flexible solutions
March 2, 2010 - 3:57 pm
The demand for different types of office space fluctuates over time and the search for high quality solutions to the needs of diverse firms is relentless. Firms increasingly require flexible arrangements which can cater for their specific wants. Flexible adaptation is arguably at the heart of the most effective modern business strategies.
The need for flexibility at the level of the firm has become increasingly obvious over recent decades. In terms of evolving technology and rapid economic change, many firms have been confronted with rarely encountered challenges associated with external change. Unfortunately, firms which have not responded to change in a flexible manner have often struggled to prosper.
Flexibility can be very hard to achieve and sustain. One way of remaining flexible is to maintain vigilance with regard to altering opportunities. Exploiting the best opportunities can produce good results and minimise costs. Cost-effective flexible solutions to business dilemmas can free up capital and personnel for other activities. Specialisation in what a firm does best is apparently one of the secrets to attaining prolonged business success.
When it comes to serviced offices, they represent a great opportunity for many dynamic firms. Serviced offices offer much more than they did in the past. The facilities they now provide can deliver significant benefits when contrasted with alternative office arrangements. It is best practice firms are looking for as they attempt to get ahead in a competitive and fluid context. Some firms may overlook the economic potential of making the most of their office arrangements and they are simply missing out.
Serviced offices for the creative class
March 2, 2010 - 3:13 pm
In recent years, the quality of serviced offices in London has improved significantly. Alongside this positive development, there has been an increasing appreciation of the economic contribution of the group Richard Florida has described as ‘the creative class.’ Firms which employ individuals that can be categorised in this way may do well to locate in areas which possess impressive cultural amenities.
The concept of the creative class has been attacked by some academic critics. Admittedly it may be a little imprecise, but the term is arguably a useful way of referring to individuals who work in the creative industries. Furthermore, using the term for convenience does not mean that any particular set of urban policies are endorsed.
Retention of high quality employees is important in the creative industries. The creative class typically appreciate vibrant urban environments. As a multicultural city, London is ideal in this regard. Creative industries can sometimes benefit substantially from cultural heterogeneity. They may not fare as well in the provincial towns of northern England, for example, as they typically have the potential to do in London. Innovative ideas can flow where diverse cultures meet.
In the national and international context, London is a significant centre for the creative industries. Firms of various sizes can benefit from clustering together. Networking opportunities are enhanced when firms in the same sector locate in close proximity to one another. Serviced offices around West End cultural provision can be a flexible solution for dynamic firms looking to progress in this exciting sector.
Searching for serviced offices in London
March 2, 2010 - 8:56 am
Seeking serviced offices in London is not quite the same as looking for similar office arrangements in other parts of Britain. London has been categorised as a ‘world city’ by experts like Sir Peter Hall. In other words, London is a cultural and economic giant of international importance. As such, it is a major location for dynamic firms of all sizes. Hence it can be a little tricky to select the right serviced office for a firm because of the amount of choice available.
The crucial thing is to narrow down the options in a way which can deliver the best possible solution. For example, the needs of the business may dictate that not just anywhere in London will do. Considering serviced offices around West End amenities may be a sensible approach, if that fits in with other factors. It may help to think of London in distinct parts and ignore the areas which do not promise to provide the most desirable economic opportunities. However, the connectedness of a firm may be a priority and it can be prudent to acquire a location which is situated in proximity to businesses in different districts.
Ultimately, few people know what a particular business needs as much as its management. Nevertheless, the use of serviced offices in an internationally important city can be a boon to many different types of firm. While modern firms rely on a range of communication systems, face-to-face meetings remain crucial and having office facilities in a vibrant location can have a very positive impact on economic outcomes.