Hong Kong is one of the most vibrant provinces in the world and host to a plethora of diversions. The city pretty much has something for every taste in the universe, as those travelling to the city are struck by its awe and wonder. Not quite a country but more than a city, Hong Kong is more than just shopping malls, scenic landmarks and luxurious hotels.
First and foremost, Hong Kong continues to be the financial powerhouse of the Asia market. Because of its import to the Asia market, the cost to work, much less live, in the province is much higher than other cities. In fact, Hong Kong rivals New York in terms of the cost to lease commercial real estate. Because of this, SMEs, start-ups and professionals might find the cost of leasing in the city very ineffective to the overall health of their business, unless going with a serviced office. Take a look at Servcorp’s Hong Kong site at http://www.servcorp.com.hk/en/serviced-offices/ to compare rental costs.
Continue reading to learn how you can minimise inefficiency by leasing a serviced office in Hong Kong and move closer to your business goals.
A More Cost-Effective Choice
In 2016, Hong Kong was slated as the most expensive place to lease commercial real estate. These figures were predicted to rise in the next couple of years, and today in 2018, the leases continue to rise. For businesses who can swallow up costly rents in the city’s downtown centre, these amounts are a drop in the bucket. However, for smaller businesses who have to watch every dime, these rents limit any access they might have to prestigious offices in Kowloon, off Chater Road and off Finance Street.
However, serviced offices can minimise the sticker shock that many SMEs and start-ups might experience when looking for space in these areas. For one, because serviced offices include much of the costs related to running an office, businesses save a great deal on overheads. More significantly, the serviced office lease makes it possible for smaller businesses to sit in some of the more prestigious areas in Hong Kong, and right next to the conglomerates in some cases. In essence, the serviced office has levelled the playing field in Hong Kong.
In a city where time is money and money is time, a business transitioning into new space can find themselves wasting an inordinate amount of time orchestrating a move to a new location in the province. Typically, whether relocating or expanding, businesses have to devote at least nine months to properly moving a business from one location in the city to another, and this time is lengthened when the business does not have the benefit of a project manager who can transition the office to a new office.
Serviced offices can fit out your business with a space in some of the more prestigious buildings in the province while guaranteeing your business has everything it needs to function. Businesses do not have to worry about setting up cable and other utilities, as the serviced office company does all of the legwork for you. In terms of efficiency, businesses spend very little time moving from one location to another, as the only materials businesses need to move to the new office are personal effects. In terms of efficiency, the serviced office completely wins across the board.
Maximising Effectiveness Through The Serviced Office
The serviced office can do wonders for your business in Hong Kong. On top of placing you in any one of the premium buildings, the spaces reduce downtime allowing you to focus on business. Ultimately, in a real estate market that would typically squeeze out the small guy, the serviced office offers businesses that opportunity work in some of the finest buildings in Hong Kong.