The office as we know it has changed significantly due to the coronavirus pandemic and it is likely that many changes will be with us for the long term. Working from home is anticipated to become a permanent fixture at many firms, with 74 per cent of directors planning to maintain the increase in remote working. Over half planned on reducing their use of long-term workplaces.
With the future of office-based working up in the air, we look at the most important aspects to consider when settling on a new space.
Budgeting for an office move
While many businesses had to scale back their operations during lockdown restrictions, others were able to adapt to the new circumstances and flourish. However, Roger Barker, the Director of Policy at the Institute of Directors, believes the office will remain a crucial part of many companies.
“The benefits of the office haven’t gone away. For many companies, bringing teams together in person proves more productive and enjoyable. Shared workspace often provides employees the opportunity for informal development and networking that is so crucial, particularly early on in a career,” said Barker.
“Looking ahead, it seems more and more companies will take a blended approach to where they work. Any transition can cause challenges, and the Government should look to ease this. In the long run, greater flexibility could benefit both business and worker alike. However, it’s crucial that the legal and economic implications of this change are grappled with from the start.”
When moving offices, the costs can quickly rack up. Delays and oversights can leave businesses facing unexpected expenses that they may wish to cover off by. It is important to set a strict budget and ensure you are aware of the full cost of relocation. Expanding businesses might need a quick switch of premises and a business loan gives them that flexibility.
IT, Data, Computers and Connections
For most modern businesses it is essential to be connected. Consider whether existing IT equipment can be moved or if it needs to be upgraded. Being familiar with the providers of electricity, phone lines and internet can help ensure everything is set up in time for moving day. Issues when migrating data centres and servers can be expensive, so having that relationship with providers can help protect against any unwanted downtime.
Furnished or unfurnished?
Conducting a detailed inventory of what businesses own before packing it away is pivotal to a successful move. If moving into a furnished space, firms may be able to donate old equipment or sell it to help pay for the relocation. They could even upcycle certain items to supplement their new offering. If heading into an unfurnished space, developing a checklist can make a smoother transition possible. However, such a move can be more time consuming if everything from electrical wiring to utilities need reviewing.
Danis Woods in Businessman, investment banker and stock exchange traders. On the same time he loves writing financial blogs to shed lights on different aspects that new and existing businessman are not aware of.