Having a proper office is key to develop your company and while there are various options available in Hong Kong, choosing one that perfectly fits your budget and that is tailored to suit your needs can be challenging. The city offers different options that would suit freelancers, small companies and large corporations, but there are different types of criteria you might want to take into consideration before finding the right office for your company.
1. Costs and Budget
Before you can dive into nitty-gritty details of your office-to-be and start suiting different locations to your needs, it’s better to see what you can afford. If you are renting, you need to be confident that you are not stretching yourself too thin on your rent.
You need to keep in mind that buying or renting an office has a lot more than that one-time or monthly cost you pay. There are hidden costs such as internet and electricity bills, parking, and other amenities that you will have to pay on a monthly basis.
A good idea to calculate the exact amount you’ll be spending every month on such hidden costs is to talk to the landlord or the company leasing the office. Be clear about what the contract will include and what it won’t.
2. Office Type
There are various rental options available for businesses in Hong Kong, whether you are just starting out with a few employees or you want a place for your ever-growing business. These options include coworking spaces, traditional offices, and serviced offices.
A coworking space is a shared space with a casual work environment and is relatively affordable. You get dedicated desks, and amenities are included in your daily rent. However, there can be many distractions if you opt for one since you don’t have private space.
A traditional office is an unfurnished space, where you will have to set up and pay for all amenities yourself, including internet, water, electricity, furniture, and some renovations. However, here the distractions are less, and one can enjoy a more productive office-like environment.
If you’re looking for ready to use offices, Hong Kong has a wide range of business centres like Compass Offices, which is a solution that has qualities of both – traditional offices and coworking spaces. Here, you get a fully furnished office area. You get the in-house admin, and IT support, and all the costs are covered in your rent. However, this option might be a bit more expensive than the other two.
Location is one of the most important factors you must consider while buying an office. You need to keep in mind both your employees and your customers. Ideally, a central location will work the best.
A central location is somewhere your customers and employees can easily reach, saving their commute costs. Remember, a good and easy-to-reach office location will leave a lasting impression on your customers.
Apart from approachability, it’s also essential that your office is located in an area that has access to public transport, restaurants, and entertainment (cinemas, malls, gyms, etc). But, the idea is to find the right balance: don’t move into areas that are too busy either, they will affect your employees’ productivity and health.
4. Office Size
Typically, 70 square feet per person works best. You can determine the extra size by studying the sizes of desks and the extra space your company will need for the meeting room, kitchen, and rest places.
Larger spaces improve employee productivity by giving them a feeling of freedom. More importantly, with larger spaces, you always have the leverage to hire more people. You won’t have to move to a new place every time your company grows.
5. Amenities and Perks
To reduce administration and extra work for your company’s management, you can select an office with built-in amenities or a location nearby appealing amenities. An ideal office location should have a good and affordable internet connection, a parking facility in the building, a safe and secure neighborhood, and after-hours access.
The best you can do is make a list of amenities you need the most such as banking, pharmacy, nearby restaurants, outdoor common spaces, or parking, and then look for office locations. All these amenities will show your employees your concern for them.
The layout of the office will depend on the nature of your business. A startup or small firm will probably want open space, and a creative office with fewer rooms promises a relaxed atmosphere and easy networking.
However, if your work is about recording podcasts, or you are a law firm, you might need more rooms in your office space to focus on each client individually. For a well-established business, you might need a space with meeting and conference rooms, common rooms, small collaborative cabins, and personal spaces.