The fresh wave of redundancies across all sectors has created a new wave of entrepreneurs with a nothing to lose approach to becoming their own boss.
The Business Centre Association (bca) – the UK’s only trade association representing the flexible space industry (serviced business centres and workspace) – has seen a surge of enquiries to its website over the last six months and is warning would-be SMEs to ensure they check the small-print before taking the plunge on new business space.
The bca puts this significant rise in enquiries down to current market conditions, coupled with the fact that serviced office and managed workspace locations offer the strongest chance of survival for start-ups, with transparent budgeting, as well as the nurturing and support network of like-minded entrepreneurs within the same centre.
New businesses face an array of difficult decisions; from size of space and lease terms to agent’s finder’s fees, so it is vital the homework is undertaken before signing on the dotted line.
Jennifer Brooke, executive director of the bca, explains: “As this new surge of start-ups seeks accommodation with easy-in and easy-out terms it is essential they make an intelligent decision when selecting their business location.
“The benefits of managed workspace are clear for entrepreneurs starting a new venture. The terms of flexible license agreements allow users to pay-as-you-go for services from a menu of options, facilitating the rationalisation of costs. A fixed monthly balance sheet also provides peace of mind when budgeting for the new business.
“The flexibility of easy-in-easy-out terms also meets the needs of new businesses, allowing them to adjust to their needs in line with any change in size or sector.
“We currently operate the only code of conduct for business centres and managed workspace in the UK and have become a recognised benchmark of quality of service. This code of conduct ensures that our members conduct business professionally and to the highest standards and ethical practices.”
The bca is an independent organisation and its members accommodate more than 40,000 SMEs nationwide. Business centres provide a fixed monthly cost for accommodation, utilities, IT and furniture to enable small companies to manage their cash flow efficiently and at a low cost.
Jennifer concludes: “The warning is a simple one, if you are a new business seeking space do your homework. Ensure that the workspace you opt for is covered by the unique bca code of conduct.”
“More information and an impartial location finder service are available on the bca website: www.bca.uk.com. This enables businesses to search for accommodation that adheres to bca’s comprehensive code of conduct around the UK at the click of a button.”