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.
We shall explore the options for Singapore SME/Startup Office Rental.
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.
Many IT startups and big businesses such as Huawei are located in this region. With a good consolidation of IT talents in that area and renting around that area, hiring for your IT Startup will also be easier if you are looking for a good Startup Office Rental location.
Rental in this area is competitive because of its decentralized location from town area.
We will strongly recommend it also because there are many housing estates around the area, which will mean cheap rental and housing for your engineers and managers. Recommended location for Startups office rentals in Singapore.
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.
For a few of the more popular areas in Tai Seng such as Oxley Bizhub, many technological based startups have rented their offices there.
We believe in the long term this area will thrive and will still be a key location for rental of offices for startups or SMEs alike.
Not forgetting the ever gaining food options in that area.
3. 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.
There is also Paya Lebar Quarters which has quite a number of upcoming Co-Working spaces for founders located in the east.
Paya Lebar is also located near Geylang which is a great place for food in the afternoon and evenings.
For startups looking to rent an office, this is a great place to start.
Location is great as well since its just 2 minutes from the Pan Island Expressway Exits.
4. Shenton Way
Photo by Antonella Vilardo on Unsplash
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.
Though traditional and expensive, this is where big commerce happens.
If you are running a business and wants to gain some good footing or have grown to a decent size and want some status, moving your SME office here by renting a good location might be a good option.
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
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.
We believe prices here will still be high and not likely to be competitive for Startups or SMEs to be renting this area for their office use, unless they are engaged in high margin businesses.
Definitely not a top choice for office rental for SMEs in Singapore.
7. Tanjong Pagar
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.
This location is usually more preferred by SME Office Rental because the cost is slightly higher than those in outskirt regions.
SMEs that wish to rent their offices can expect upwards of $5 per square foot for rental of this area.
There are plans for the port to be moved away from the town area of Singapore.
With that we expect this area to become a bigger extension of the Central Business District area (CBD).
8. Chinatown + Clarke Quay Area
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.
Clarke Quay is definitely a great place for many young founders to meet their prospective clients and also makes it easier for them to hire, especially if you are someone who hopes to bring in young people into the team! Definitely one of the top Startup Office Rental Locations in Singapore.
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.
Though there is a consolidation of Startups here, not everyone can get on board unless you are invested by the funding companies here.
Located right beside Timbre+ , one of the cool new eating places. This place definitely is the go to place for startups.
At K Cloud Accounting, we understand that there are also many other options that you can go after.
Co-Working Office Rental spaces are the go to place right now for businesses. Co-Working has become a very popular choice for people who do not wish to spend on renovation and having the requirement to sign 2 to 3 years leases.
They could do short term leases and leave when the time is right.
We work closely with many Co-Working Spaces in Singapore and we are able to recommend a few.
Call our Business Development at +65 98638665 for recommendations if you require help with Co-Working Office Space Rental for Startups in Singapore.
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.
K Cloud Accounting also works closely with our friends from various trade to provide the following useful services:
- Corporate Gift Printing
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- Singapore Mobile Application Development
- Digital Marketing Services
- Mortgage Loan
- Business Loan
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Where should a Singapore SME or Startup rent their office