In order to help growth-stage businesses decide on their London location, we’ve compiled a list of five things every office space should be able to offer. Read on to get inspired.
Are you a growth-stage startup company looking for office space? Considering London as your base? Choosing a location to grow your business from can seem challenging at the best of times, let alone when considering all of the competition and options available in London.
Luckily for you, Myo are the office space experts, providing growth-stage businesses with professional, refined, and calm workspaces that not only foster productivity in employees but impress clients with corporate-standard infrastructure and excellent facilities.
1. A central location
No business should have to compromise on location — no matter how established. Centrality to other similar hubs of trade and commerce, connectivity, and proximity to amenities and transport links are all key concerns for any office space.
London has its own network of industries and finding where your business slots in is crucial. For example, Shoreditch is one of the most popular locations for startups, while Canary Wharf houses most financial businesses. Soho is popular among creative and media industries, while Fleet Street and the surrounding areas are often occupied by businesses involved with print media and broadcasting.
For startups, having a central office based in London comes with a whole host of advantages such as:
Access to talent
An inner-city London office gives startups access to an ever-growing pool of diverse, young, talented professionals in all sorts of industries.
According to Trust For London, 46.2% of the innermost population of London is made up of young professionals aged 20-40. As a growing startup, these are the people you want in your office.
So, renting somewhere in a central location brings you to them — making you a much more attractive employer.
While it might be early on in your new business journey to be thinking about overseas expansion, should you ever need to travel to Europe (or further afield) London is extremely well-connected.
With 272 London Underground stations, a comprehensive overground system, and six airports, London is ideal for business planning on reaching far beyond its headquarters. As well as this, proximity to resources and facilities is a key factor for employees looking for a strong work/life balance.
2. Flexible workspaces
A flexible working space is at the heart of every startup business, especially during the post-pandemic vogue of hybrid working.
Now more than ever, flexibility at work is becoming a top priority for businesses and employees alike. In fact, according to a study by Zenefits, 77% of people consider flexible work arrangements a major consideration. Working arrangements like hot desking and coworking are becoming essential for many organisations, startups included.
Hot desking is a workspace system that allows employees to use desks on an ad hoc basis. Instead of assigning each employee a permanent desk, hot desking allows workers to use any available desk, encouraging freedom of movement, collaboration, and flexibility.
This option is ideal for startup companies that may have more employees working from home than looking to work full time in the office – it reduces the number of desks required. As a result, hot desking helps to save space and keep running costs down by as much as 30%.
Crucially, it still provides a dedicated space for in-person meetings and face-to-face client interactions without necessarily having to invest in a lot of floor space that would otherwise go empty.
Coworking refers to a collaborative working approach, often facilitated by larger, open-plan working environments and shared facilities. For startups, this style of working is key as it allows for transparency, group decision-making, and business conclusions to be reached collectively.
Coworking spaces often take the form of large desks, board rooms, or lounges.
A good office space should be able to accommodate all sorts of different working styles and desk setups, fostering a culture of productivity by allowing employees to work in intuitive and natural ways. That’s why Myo offers private offices for 10 or more employees to work in flexible setups that best suit them.
3. Accessibility and convenience
No two employees have the same set of needs. Some may need to work from home, others may require specialist tools in the office such as a raised/lowered desk or certain ergonomic equipment. The right office space for your startup will take into account the varied needs of your workforce and meet each one.
However, equally as important as the basics for each employee are the added extras that make coming to work every day that little bit nicer. For start-ups especially, creating a positive culture around coming to work (and working in the office) is invaluable for employee retention and staff satisfaction rates.
The following are all provided in Myo’s office spaces to make the work environment as comfortable and productive as possible:
- Refreshments from sustainable suppliers
- A boutique concierge service
- Storage solutions for larger items such as bicycles
- 24/7 access – because hybrid working isn’t always nine-to-five
- Super fast internet
4. Modern, reliable equipment
At the most fundamental level, a good office space should be fully-equipped with all the necessary workplace equipment needed for a business to function.
While the specifics of what is included furniture-wise in each office rental differs between companies, it is expected that any equipment included will be:
- Of a high quality
- Conducive to a productive working experience
Rentable meeting rooms should be able to accommodate larger parties comfortably, with everyone’s needs being met.
For example, there should be space for everyone to plug in their laptop, store their belongings safely, sit comfortably, and take notes. Similarly, the digital infrastructure of rentable office spaces should also be able to handle large amounts of traffic. If shared tools such as projectors or monitors are provided, they should be in good working order too.
5. A positive environment for employees
While we’ve discussed the importance of flexible workspaces, it’s surprising how overlooked the importance of a pleasant workspace is.
Elsewhere on our blog, we’ve explored how crucial factors such as greenery, wall art, and air quality can be on employee satisfaction at work — and it’s true. No one wants to work in an unclean, crowded environment with limited natural light and poor amenities. For startups in the creative sector especially, the workplace itself should be an inspiring environment conducive to thinking outside the box or ‘dreaming big’.
Starting up a business in a big city can feel daunting. So, the base or ‘HQ’ for that business should offer a sense of comfort and stability at least, acting as a bit of a retreat for employees. The quality of the workplace does, after all, have a significant impact on the mental well-being of staff. Not to mention that staff productivity rises by 12% when they are happy, a study by the University of Warwick has found.
Find your perfect office space today
To find an office space that can give your startup all five, contact Myo today. For a closer look at what the ideal London office space looks like, download one of our brochures here or book a tour of either of our London-based office spaces.