Posted on 24 Apr, 2017
The UK births around 600 000 startups every year, a large portion of which are located in the capital city. Westminster, Camden and Hackney are listed as the top three boroughs for starting a business, with Bromsgrove and Islington following closely behind. Even in the wake of article 50, the country's entrepreneurial spark remains very much alight.
Although creating a company and building a brand can be an incredibly fulfilling and exciting experience, it can also be a drain on the old bank balance- particularly in London. So how does one go about finding an office space in London on the cheap? The options are surprisingly numerous. Try one of the following things…
1. Hotdesk your way to success
Workspaces in London are so versatile these days- recognising that one size doesn't fit all, most of them are designed to provide a range of options to suit different business types and sizes. The most expensive option is to rent a private, partitioned office, whereas hotdesking in a coworking area is the cheapest. Hotdesking guarantees you an unfixed workspace, so you could be working in different parts of a coworking area each day. If you're able to spend a little more, rent a desk in a shared office.
Despite having to bring your laptop/ possessions in each day (due to not having a fixed space), the positives outweigh the negatives on this one. As well as being cheap, sharing a space with other companies provides opportunities for networking, collaborating and skills sharing. In fact, in many places you'll be given access to an online network of members' profiles, which provide info about their area of expertise and contact details. That means if you're looking for a graphic designer to help build your new website, you can get one quickly... and free of charge!
This dynamic new workspace in Holborn offers hotdesks from £50 and fixed coworking desks from £300. Visit the property page for more info.
2. Rent a virtual office
Are you happy to work from home but need a centralised, professional location to meet clients or handle mail? If so, a virtual office is for you. Renting a virtual office is basically renting an address, and some providers let will let you hire meeting room space and even hot desks on request.
3. Work from home
At the end of the day, sometimes it's the only way. Did you know: If you work from home, you can count a portion of your annual utility spend and rent as expenses?
Follow the no pjs rule when working at home!
4. Visit the library
Many of us haven't graced a library since childhood, and with widespread internet and the rise of the Kindle, why would we? Aside from offering a quiet place to hide and devour a book, libraries offer a great (and completely free) place to work. The CLR James library in Hackney, named after the influential Afro-Trinidadian historian, journalist and socialist, has a floor dedicated to independent working, with free Wi-Fi and plug sockets. The Idea Store libraries in East London are more like community hubs, and as well as workspace, offer training courses and IT support. It's a great solution for the lone freelancer, but rule it out if you need to call clients or work in a team.
Coffee shops are another option, if you don't mind spending a small fortune on lattes for fear of being a Wi-Fi freeloader.
5. Hello pod!
An alternative option would be to purchase one of these little beauties, created by Framery. They're designed to provide a quiet place to work in a busy office, but what's to stop you, say, taking it into the middle of a forest or the seaside?! (Planning permission, perhaps…)
6. Ask the experts
With over 800 serviced offices in London alone, it's easy to get overwhelmed by the sheer amount of choice out there. Sometimes it helps to talk to someone well-versed in the language of workspace, someone who can point you in the right direction or and pick out some relevant options. The Office Space London team will happily help you, for free! We are office consultants- it's our job to find workspace that fits our client's' budget, location and size requirements. We take a % cut of the fee from the provider, at no cost to you. Speak with Lee, Sheena, Bob or Jamila today.
It's time to tap into the world of Hashtag if you haven't already. Social media is great for fledgling businesses feeling their way around the startup stratosphere. Test out the following keywords to find a cheap office, or just to get some ideas and inspiration:
Contact our team on 0203 0511 986 for cheap office space in London!