Office Space - Finding a Place To Start Your Company

While many fledgling entrepreneurs are choosing to start their businesses in cyberspace, there is no substitute for having a real office space. And if your company grows beyond yourself and a couple of others, you'll need a place to work that isn't your own converted basement. While you might think finding a building is the least of your concerns, you could find it more difficult than you anticipated. Obviously, you don't want all of your startup capital going to paying the rent, but you don't want a building in an unsafe and unsavory neighborhood, either. Here are some keys to finding a great place.

While it may be impossible to get your business off the ground without some degree of financial support, that support is harder to come by than ever before. The financial uncertainty in America has led many investors to take a much closer look at how their money will be used. This means you may be working with a smaller budget than you might have if you had opened your company in the mid 90s, for instance. Of course, the economy is something you should be cognizant of as well when looking for office space. Stay out of long-term contracts. You do not want to be on the hook for renting a building for three years if your business goes under in six months. The same concept applies if you outgrow your current place in a similar amount of time.

For companies on the way up, shared office space often makes a lot of sense. If you can split the rent with another fledgling company you can both save on costs while trying to get the ball rolling. Obviously, you will want to find another startup at approximately the same level as your company. If the two sides are amenable, you can not only save on rent, but also share other things such as printers and copiers. Of course, you will want to find a company that is outside of your spectrum of business and far removed from your field. You will also need to make sure you can trust the other employees.

Look at the business district in your hometown. You don't necessarily need to set up shop on Wall Street just yet. Starting off small can keep you humble, keep your costs manageable, and will let you pour your budget into more important things. Unless you need a fancy office space to show off to clients and investors, keep things simple for the time being. There will be plenty of time for the top floor of a skyscraper when you've made it big.