What Entrepreneurs Need To Know About Office Space

What Entrepreneurs Need To Know About Office Space

Office space in los angeles

America’s start-up culture is growing. According to a new report by the Kauffman Foundation, in 2015 start-up activity in the U.S grew for the first time since 2010 and the rate of new entrepreneurs, one of the measures the Foundation tracks, increased by 10%. Given that there are over 28 million small businesses in America and that these accounted for more than 65% of new jobs in the period since 1995, the time is ripe to start a new business.

Doing so, however, can be a daunting process and there are costs to consider. The average start-up cost in 2009, according to the Kauffman Foundation, was $30,000. Few prospective entrepreneurs realize though that some startup costs, up to $5,000, are tax deductible, in the first year of doing business. One of the largest and most vital of expenses is often office space. When it comes to office space costs, 80% is spent on operational and lease costs. An office space rental agency can help you find the right location and space to meet your needs. Workplace design is important in the success of a business. In fact, close to 90% of senior officials surveyed listed good workplace design as positively impacting productivity.

The relationship between the design of an office business center and productivity has ben studied internationally and the research pointed to the need to address spacial arrangements, noise, light, temperature and furniture. Issues with those five factors can decrease productivity, which can have a significant impact on a small business.

When choose office space rentals, it is important to work with the office space rental agency to address the factors above, while also considering physical location and costs. Most professional office space leases are flexible, meaning you can opt for anything from a one-year lease to a 10-year lease. Office rental solutions can start as low as a few hundred dollars per month per person, dependent on the business center location, amenities, and lease terms.

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