Where should a Singapore SME or Startup rent their office

Where should a Singapore SME or Startup rent their office

Where should a Singapore SME or Startup rent their office – Singapore is an expensive expensive country to not just live in but also to work in. When you are based in Singapore, everything is going to cost you lots of money. There are things like rental, salaries, utilities, marketing and all sorts of other expense items.

The most costly thing that one will have to pay for before they turn profitable will be rental of the office that you will be spending the most time in. Most people do work from home when they are just starting but nothing beats having your own office and putting things up to show that you have made it.

There are quite a few locations in Singapore where business will congregate and work around the area. Each area has its own specialty in terms of what kinds of business will gather around those places. In terms of prices and also in terms of proximity to their partnering services, they are also located on various sides of the country.

So what are some of the recommended locations around Singapore that one should rent for their startup or SME business?

Each area has its strengths and weaknesses in terms of location to various amenities but at the same time the price of the locations can also vary widely.

Lets start with the eastern side of Singapore and we shall slowly move westwards.

1. Changi Business Park

Nestled in the east and near to the airport, there are quite a few groups of businesses that like to be in that area. The logistics startups and SMEs will most likely be on this side because of its proximity to the airport. Most of the fast transit products go through air freight and this is a good place to locate your logistics business at. Therefore most of the logistics businesses base themselves here, like DHL and Fedex.

Changi Business Park has also one of the most competitive rentals for business that wish to set up their IT solutions businesses. Data centers are mostly located in the east in this area and this good location with good rental, is also where many of the local firms place their IT help desk at.

2. Ubi + Tai Seng Area

Ubi and Tai Seng is the main industrial belt of Singapore. Most of the industrial based businesses are based in this area so that they can take advantage of the location of their suppliers and logistics partners.

Ubi and Tai Seng has also most of the business startups that require either food warehouse licenses or in general require warehouse spaces. The cost of renting in this area is relatively cheap with most of them being B1 or B2 industrial spaces that will allow businesses to keep stock of items and also be able to send items out of their warehouses with ramp up factory spaces. Being close to the central area of Singapore, delivery across the island is quite convenient and this gives the advantage of its location as one of the best logistics hubs in Singapore.

Ubi and Tai Seng area is also home to quite a number of car workshops and second hand car businesses. There is an Auto Hub within that area and it is really popular for second hand car shoppers who are looking to buy a good deal.

3. Paya Lebar Area

Paya Lebar Area

Paya Lebar is one of the new and more popular areas that has been build up over the past decade. With the inclusion of Paya Lebar Square and other new office spaces coming up soon. There is quite a startup buzz around the area that wants to take advantage of its good location right beside a main MRT station on the Green Line but at the same time it being one of the places with really good access to food.

Location is great as well since its just 2 minutes from the Pan Island Expressway Exits.

4. Shenton Way

The famous area of commerce in Singapore, most of the banks are located in this core region of commerce in Singapore. Shenton Way was the key location for major businesses and also the stock exchange of Singapore. It being located in the most prime location of Singapore, is the location of choice for most businesses who wants to be the who’s who of Singapore.

Being located on Shenton Way shows that you have made it and also it is one of the highest in terms of cost of rental in the whole of Singapore. Locations around the area can go up to as high as $12 per square foot depending on where exactly you are on that stretch and also which floors you are. The views from the buildings here are mostly unblocked and you get a clear view of the Straits of Malacca from the comfort of your office.

5. Robinson Road

Robinson Road is also one of the main spines of business and commerce in Singapore. Most of the major companies and MNCs are located in Singapore. Being close to most amenities and also being in the heart of town. Robinson Road does not have the view that Shenton Way commands because it is one street behind the sea line. You will get a good location with a much lower rental but also in the heart of town where all the other customers and also your suppliers are around.

Robinson Road is also host to a few new developments that are bound to excite someone that is doing business in Singapore for the first time.

6. Marina Area

singapore marina area

 

The New Kid on the block. Marina Area is now the top prime office location with the new Marina Bay Financial Centre and also the sparkling new Marina One buildings. This area is now home to the biggest businesses in the world that chose Singapore as their regional HQ. The major banks are also located here where all the buzz is happening. Rentals can go up to as high as $20 per square foot and this area is perfect for the best views and also the best place to get good food and good drinks on roof top bars and also food areas located within the vicinity.

With more developments to come up in this area, there is much excitement that we will see in this area getting the strength it needs to become the new down town of Singapore Commerce.

7. Tanjong Pagar

tanjong pagar singapore

Tanjong Pagar is actually quite a popular location for Startups and SMEs. A stones throw away from the main belts, Tanjong Pagar is one train stop away and it does have all the strong characteristics of a good down town location like Shenton Way and Robinson Road.

Tanjong Pagar also has very competitive rates as compared to Shenton Way and Robinson Road and this gives it one of the best down town advantage as the rest.

8. Chinatown + Clarke Quay Area

clarke quay singapore

Chinatown is home to many chinese businesses and this area is also known to have really cheap shop house office spaces for startups that want to be located in this area where good food is definitely not in short supply. Chinatown is also full of energy and a great place to be especially when you want to have lunch meetings.

Clarke Quay Central is also nowadays popular with startups using their studio units as office spaces. It is located near to party areas and this gives them the best form of work and play balance.

9. Block 71 + Ayer Rajah Area

 

Some call this place the silicon valley of Singapore. But to most, its just a nice old flatted factory for startups to work in close proximity to one another. Investment firms and also many Co-Working Spaces are conveniently located in this region and there is lots of startup energy buzz when it comes to getting things done and also getting to reach out to investors who are looking to catch on the wave of startup investment returns.

Located right beside Timbre+ , one of the cool new eating places. This place definitely is the go to place for startups.

 


Where should a Singapore SME or Startup rent their office

K Cloud Accounting is the leading Startup Accounting Services provider and we are keen to work closely with startups for many different kinds of support that will be needed for businesses that are looking to achieve more with their limited budgets.

If you require help after reading “Where should a Singapore SME or Startup rent their office” , with your office rental locations, do contact us!

Where should a Singapore SME or Startup rent their office

Where should a Singapore SME or Startup rent their office

5 Benefits of Startups using Co-Working Spaces

5 Benefits of Startups using Co-Working Spaces

5 Benefits of Startups using Co-Working Spaces

 

5 Benefits of Startups using Co-Working Spaces – One of the most expensive things to look at when you are trying to get a location for you to work from is your office space.

When it comes to rental, the cost can go from a few hundred dollars to a few thousand and then there is renovation and maintenance cost. When we look at getting an office space to get work done, gone are the days when you will spend lots on rental just to have your own space. In the recent year, Co-Working spaces have become a very popular choice for businesses that are either just starting out or for those who do not need to have a space for themselves. There are many benefits that you can look into when you think of it against getting your own space.

With the increasing number of startups that are coming up in Singapore, with Singapore being one of the best places in the world to get funds to fund a startup, demand for such spaces have also slowly climbed and got to the point of what we see today.

Let us discuss some of the reasons why you should consider using Co-Working Spaces for your office space instead of renting one on your own:

1. Convenience 

Location is everything when it comes to starting up and being near the important people that you are working with and need help from. If you are to get a convenient location in town it might cost you a bomb just to be close to town where all your customers are. This is also one of the main reason why people use Co-Working spaces. For a fraction of the price of getting your own office, you get a good location and also a good address to show the world that you actually are placed in say a good location like Shenton Way or Robinson Road.

Being centrally located also means that you are close to your service providers and clients and if you are in the service line, be close to your customers so that you can assist them and support them when they need your help. Being close also means that your response time will be much faster than those who do not have their offices conveniently located like yours.

2. Chance to Network with fellow founders

Business Networking is what sets you apart from the rest. For someone with all the contacts that will allow you to reach the correct people that you need to reach, this is what makes you special and what makes your different. To be able to get to someone without having to spend too much energy will be great for you to build your business and focus on what matters. There is a saying that goes that says that its not what you know that is important, its who you know. Because who you know can open doors for you to make sure you break through in your business.

Working in the same place as your other founders means that you are able to spend time with them and build the strong bonds over the formative years of your business. There is also a wide range of startups that are in the same place and same area and you will be able to make good contacts with them over the period of time together.

Co-Working spaces also usually have networking opportunities that will make you meet people from outside the area. Such networking is mainly for the Co-Working space to get more members but you could get the same contacts at the same time, so why not be part of the membership to meet new people.

3. Arrangements are Flexible so is the time there

Most Co-Working spaces allow around the clock access, so you can get in and out and do things until late and you will still be able to enjoy the facilities of the space itself. Prices are also quite a range, so if you are low budget, you could face the wall and pay a really cheap price for a corner seat. If you do have some budget, get yourself a room so that you can lock your things up and also look more professional with your space cut off from the rest.

For teams that are slightly bigger, you could also get a bigger room for everyone to sit in the same space and do work together. 

When there is a need to upgrade or change the level of your membership, it can be done quite easily because there are extra spaces in most Co-Working spaces, so you get to move around quite a bit and for newer spaces, you get free use of their locations when you are starting off!

4. Getting a mentor or a friend

When you are here, there are not just startups or young people around. Sometimes you have businesses that are able to give you tips and also mentor you when you are starting up. Being at a location where there are many people allows you to interact more and find a mentor or even a friend in business. Going alone is tiring and also tough because you will have to explore so many parts of doing business alone. The best way is to get someone to partner you and to work with you on it so that you do not have to hold all the stress on your own shoulders. 

Discussing strategy with someone else and making new friends in a Co-Working space is a great way for you to balance your work life out and that means you will be more recharged to work harder for the next burst of growing your business to where you want it to be. 

5. Save cost 

That is definitely the main reason for anyone to not get their own location and have their own logo plastered on every wall. The cost of getting a Co-Working space is definitely one of the most enticing reasons why people use Co-Working Spaces. There is also the reason of not needing to get renovation of the location which can cost you tens of thousands and when you move out having to tear down everything that you paid to put it up. 

Cost savings can be shifted over to marketing and branding cost, you will be able to grow your business much better with a proper and better use of your funds for revenue generating sections of the business. 


 

5 Benefits of Startups using Co-Working Spaces

K Cloud Accounting is a Singapore based Startup Friendly Accounting firm. Our services include accounting services for startups in Singapore, financial reporting, corporate secretarial, taxation and other related services. 

We have a team of partners that work closely with us to give our startup friends an edge over the rest. 

Contact us to find out more about our services. 

5 Benefits of Startups using Co-Working Spaces