Singapore Business Office Space Types
Most of the small and middle sized companies suffer problems in finding and renting an office located in Singapore for setting up their office. The process involves evaluation of several factors and careful calculations like availability of financial resources, projected profits and expected revenues.
If you have planned and are all set to start a business in Singapore, renting office can be an important issue for you. Different businesses have different requirements and for those who are into customer-oriented business, the selection of the location can be an important factor in deciding the failure or success of the business. Being the central point of the international business hub, Singapore is well set to meet almost all the business requirements.
In order to get the best spots on rest, you will have to pay higher amounts, however a simple research and a look around will help you to a great deal in finding a suitable location at rent within your budget. The major thing to be decided while setting up the business is to find out where to live and which location to be selected for business. You might get numerous options with respect to location where you can enjoy working as well as living.
This report provides information regarding the various rental options available in Singapore for rent for business purposes. Using this information, you can select the best location as per your business needs and requirements.
Serviced Office / Business Centers
Business centers or serviced offices are complete furnished offices which are especially designed to be provided on rent to the businesses relocating in Singapore. These are ideal choices for small and mid-sized companies that are looking forward to establish their business at a low cost. The renting process is simple with flexible terms and conditions and provides a standard business address to the business. The serviced offices are mainly located in business districts of Singapore. They are managed and looked upon by specialized companies which provide offices up to 10 persons. It is a perfect option for those who wish to move on temporarily till they find a permanent location for their business.
A conventional office represents an empty space that needs to be furnished and decorated by the individual who rents it. You need to get your own furniture, utilities, IT infrastructure and other things including manpower to the things done as per your needs. However, finding the right office at a desired location might be daunting. The lease process might also take a considerable time. But you might reap great benefits in the long term if you are a stable company with the vision of reaching great heights. Though you might have to invest huge bucks in the initial stages of setting up the business, you can really save huge bucks in long term in comparison to renting the serviced office.
Private-Owned Commercial Buildings
As far as private owned commercial buildings are concerned, they are in abundance and the businesses can rent any one of them as per their requirements including the standard and prime locations. The rent of such buildings differs with age and location of the building. If you are looking forward to take a privately owned building on rent, it would be beneficial to seek assistance from agents who can search the best location and negotiate the terms of lease and prices.
Government-Owned Commercial Buildings
The government-owned buildings can be taken at rent from JTC, Jurong Town Corporation of Singapore. JTC provides a wide variety of premises from which you can select your desired one as per your factory space and office space needs. These premises offer you technopreneur centres, stack-up factories, business parks, R and D hubs, warehousing space, entrepreneurial activities, entrepreneurial activities like logistics hubs for aerospace, Jurong Island chemicals hub, logistics hubs for aerospace, general warehousing industries, dedicated food factories and biomedical parks etc.
If a high profile and centralized location is not your concern, you can look forward to rent the government owned buildings. You can refer to the list of premises offered by the JTC so as to know the rental rates for different locations. For more information you can visit the Related Links section which is at the end of this post.
It is a service which is offered by several serviced offices operating in Singapore. These office solutions provide you office expense without the existence of a physical space. When renting a virtual office, the package you receive involves a corporate business address, dedicated fax and phone numbers, customized telephone answering, use of private offices, secretarial services, meeting rooms, mail handling etc.
The best thing about a virtual office is that you pay only when you use the service and this is cheaper as compared to other options and also less risky than investing in making premises arrangements. You can get the best options by considering virtual office without having any effect on your budget.
Most of the businesses that operate on a small scale prefer to operate from home. The various people who might like to work with home offices include real estate agents, consultants, individual entrepreneurs, company employees, lawyers etc. Under the Singapore’s Home Office Scheme provides an opportunity to the HDB property and private property to carry out the small scale businesses from their homes. This activity can be carried on till they do not get listed in the negative list of the scheme.
In order to operate a home office, the operator of the office should own the home or should be a tenant or hold a valid authorization to live in that home. Under the scheme, the house offices are considered to the premises that are primarily used by the occupants for residential purpose with a part of the premises used as an office. It also states that this premise should not accommodate more than 2 persons engaged in the office operations.
It is essential to get registered with the Urban Redevelopment Authority if it is a private premise or Housing & Development Board if it is a HDB premise if you are willing to use your house as a home office in Singapore. In order to make sure that your business does not create any trouble for other residents, several restrictions are enforced on the hoe offices. These restrictions state that you should not smoke, generate any kind of noise or create any other form of pollution. More than two employees cannot live in there and you are also not allowed to display any advertisements or signboards externally. Some activities which are not approved as business activities by HDB are commercial schools, maid agencies and food catering.