As we all know, whether it is residential, commercial or office space, space is a luxury of Hong Kong. According to CB Richard Ellis's semi-annual Global Prime Minister's Office Rent Survey and Jones Lang LaSalle's Senior Office Rent Tracking Report, Hong Kong remains the world's most expensive office market in 2017.
A few square feet here and there can easily drain the financial situation of start-ups or freelancers who can invest in these funds to develop their own brands rather than paying too much monthly rent for office space.
The “home office” setup may seem like an enticing solution, but to be honest, sitting on a bed or living room with a business plan doesn't improve productivity. Because there are countless distractions in the family, there is always the temptation to postpone work.
Your neighbor's coffee shop may be an attractive workspace, however, how many cups of coffee will you order in the end to justify a separate charging stand diagonal table? Imagine you waiting for the dirty look of your seat from other customers. Not to mention the heavy traffic flow into and out of your customers may ruin your mind. In addition, you will reluctantly accept the muzak that the barista chooses to play for hours.
So where will our brave entrepreneurs leave you?
Fortunately, there is a variety of common workspaces across the city, and finding the right workspace now requires a flexible workspace based on your taste.
In some spaces where you work together, you can still enjoy the atmosphere of a coffee shop, without the terrible muzak, the conversations on each table around you, or the competition in the main seating position next to the power outlet. Many co-working spaces have free-flowing coffee or tea, and some even have their own barista, which serves brand-name coffee in a casual and comfortable atmosphere, helping to increase your productivity.
In addition, you don't have to worry about long-term leases or astronomical office rentals. Whether you need a few hours per week or a dedicated desk that takes months, the co-working space provides flexibility. You don't have to worry about maintenance and repair costs affecting your budget, or you don't have to personally buy office equipment that you can't live in in a 300 square foot apartment in Wan Chai.
A co-working space or flexible workspace also gives you the opportunity to compete with other solopreneurs. The network is the key to any growing company, working together to reach out to potential customers, partners or investors to take your business to the next level. Professionals from different business areas can use a common workspace to provide you with potential solutions to insights or project barriers in the target market every day.
Studies have shown that people who have the right to choose the right workspace are more efficient than those who are forced to work in a monotonous environment. Finding the right workspace for you [or your team] is one of the best investments you will get.