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 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
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 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
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.
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!