Investing In Office Space For Your SME: What To Consider

Published on: 20 November 2018 Last Updated on: 01 April 2020

So, your business is thriving. All the hard work is paying off and you’re starting to reap the benefits – repeat customers, growing workload, increased revenue, so is it time to move out of your 3^rd bedroom-turned-office, into a more professional environment? It can be tricky to take the leap as an SME owner – so here are key things to consider when buying or renting office space for your business.

Shared or Private Space?

There are many options for professional working environments, including the private vs shared space debate. There are pros and cons for each option, so it really is down to how your business operates.

If you are currently the only worker or you have 2 to 3 employees, you may benefit best from a co-working environment. This means you will be in a larger office space which other business people are using at the same time. You can take advantage of an office environment with internet allowance, desks, lockable storage units, and telephone systems without having to pay a hefty price tag for private space.

Alternatively, if you have a larger amount of staff, or the business you run is highly confidential or sensitive, you may be better off in a private space where you can discuss business freely and openly without worrying about being overheard.

There are many serviced offices across the country, with companies such as BE Offices and Prime Office Space offering both shared and private spaces so you are sure to find something to suit your business.

Renting or Buying?

When looking to set up your first office, you will no doubt deliberate over renting or buying. The rental market is extremely popular as it gives you the flexibility to move on at the end of the lease. So, if your business grows significantly and you need more staff, you can move to a larger space in line with business requirements. This flexibility may also be useful if you decide an alternative location may be better down the line for your business, due to localised demand for products or services. Renting also usually means fewer upfront costs than buying, but you do run the risk of rental values inflating, with a subsequent high impact on your finances.

Buying is obviously a huge commitment and requires a larger investment up front. This may be suitable for you if you have a good idea of your long-term business requirements and you know that the property will serve these. This may be the case for businesses requiring large factory spaces, for example. It also gives you the ability to make any changes to the property that you desire –you own it, so you can do what you like to it.

Is It Practical?

It is also important to consider whether the location is suitable for you and your staff. It is easy to get to via public transport? Does it have sufficient car parking?

Finally, always put your Health and Safety hat on and make sure the building abides by current health and safety standards. It may look pretty, but it needs to be a safe place to work with comfortable conditions for you and your staff. Undertake a risk assessment before you move in to highlight any potential issues and implement strategies to mitigate risks.

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Tips For Protecting Your Overseas Shipments

The retail business is truly a global pursuit and if you run an eCommerce company, you probably obtain at least some of your products from other countries. But when you ship items overseas, there are additional risks that exist that don’t exist with domestic shipments. For this reason, you have to take extra precautions with your international shipments, from getting maritime insurance to choosing the right freight partner. Here are other tips to ensure your products get safely from point A to point B. Packaging Despite your best efforts, the people who handle your shipments at the docks may not handle them with care. This is why you need to ensure your products are packaged properly when they’re loaded on the ship. Since you can’t be there to package them yourself, it’s a good idea to partner with a logistics provider that offers specialty packaging services. These providers take care to put the right amount of cushioning in the package, the proper security seals on the outside, and an appropriate exterior to prevent damage during transit. Partnering with a logistics provider takes a lot of the guesswork out of shipping overseas. You don’t have to worry about the packaging from the manufacturer not holding up to the rigors of the sea because your logistics provider will take care of this for you. This is particularly important if you are importing fragile items like electronics, artwork, and glassware. Tracking and Monitoring In the not-too-distant past, when you shipped products from overseas, you wouldn’t know if something happened to them until the ship arrived (or didn’t arrive) at its destination. Now, through innovative technology, you can track and monitor your shipments from origin to destination, even while they’re on the ship. Often, you’ll need a logistics partner to enable shipment tracking and monitoring for you, but the transparency you’ll have in the entire supply chain will be invaluable to both you and your customers. Onboard Courier Services Some shipments are so valuable that you might not want to leave them alone for the duration of the voyage. For these highly-sensitive packages, you can hire an onboard courier to maintain the chain of custody from the product’s point of origin to its final destination. Essentially, an onboard courier is a dedicated passenger who watches over your shipment for the entire trip overseas. When a package isn’t ever out of view of a courier, you can be sure it is protected and secure at all times. While this can be expensive, it’s often worth it for valuable shipments that simply can’t be lost, damaged, or stolen. Insurance No matter what you do to protect your shipments, unplanned events happen. For example, you can’t predict the sinking of a cargo ship or a squall that knocks your container overboard. It happens more often than you’d think. This is why you should always, always insure your shipments that are coming from overseas. Conclusion It can be nerve-wracking to put your shipments in the hands of other people when shipping them overseas. Fortunately, by using these tips, you can protect your cargo as much as possible and if the worst happens, you’ll at least be reimbursed for your loss. Additional: Medical Delivery Service: What To Know Execute the Perfect Expo with This Trade Show Checklist Complex Supply Chains Network and Business Complexity 3 Characteristics of The Best Wine Clubs You Can Join as An Avid Wine Drinker!

Top 8 Benefits of Professional Business Cards

Wondering if you should invest in professional business cards? You might think that business cards aren't necessary for your industry, or that you aren't successful enough to need them yet. However, professional business cards can be useful in every industry, and along every step of your professional journey. They help people remember you and can go a long way toward making the right impression. In fact, there are all sorts of situations when business cards can benefit you. You never know when or where you may meet a professional connection who can really help you. Are you ready for that moment? Read on to learn why you need to get business cards in your wallet as soon as possible. 1. They Feel Genuine: In this modern-day, it's perfectly easy to exchange business information via phone or email. In fact, professional business cards can even start to seem outdated in this environment. However, one of the great things about business cards is that they aren't digital. They make things feel personal and genuine - which is what networking is really all about. Business cards provide an opportunity to shake hands, make eye contact, and have a real conversation. This allows you to develop a sense of a genuine professional relationship from the start. If you're both typing information into your phone, it's much less memorable later on. Instead, use business cards to create a memory - people can save info on their phones later. Just like business cards, leaflet flyers can be a great way to help improve the awareness and popularity of a business brand. Businesses can depend on leaflet flyers as a dependable, affordable, and result-oriented offline marketing strategy that works. This can help drum up sales, build credibility about the brand and reach out to new customers. 2. They're Highly Effective: Did you know that professional business cards are a form of direct marketing? You might be using paid media, search engine optimization, and email marketing already. But while you're at it, you should also visit a site like New Era Print Solutions for business card templates. In-person meetings can go much further as direct marketing tools, for the same reasons as those listed above. You might discover valuable contact just about anywhere. Networking events and trade shows are to be expected, but you can also develop valuable leads at the grocery store, the airport, or a party. If you have business cards on hand, you'll never miss out on one of these direct marketing opportunities. Store them in your wallet, pocket, or laptop bag, and you'll always be prepared. 3. They Give a First Impression: Anyone who's ever worked to develop an elevator speech knows that first impressions are everything. Professional business cards can help you make a lasting, memorable first impression. Sure, you can give out your information without a business card. But if you have a memorable, unique card, the interaction will be much more meaningful. For example, no one wants their brand to be thought of as cheap. A nice business card can speak for the quality of your work, by representing your values and aesthetics in miniature. Your business card should be unique enough to stand out and aligned with your company's values. Even if you work in a conservative industry, paper quality and font choice can make your card stand out, giving the impression you want. 4. They Get Shared: When you have out your business card, it might change hands a few more times. This is a great way to expand your network quickly. Business cards are physical objects, unlike contact information that's privately stored in a phone or computer. If you hand out your business card to a connection, they might then turn around and show it to even more people. This is especially true if you have a unique, creative card. 5. The Show That You're Well-Prepared: If you have business cards on hand, your new connection will see that you're prepared at all times. This level of foresight can make them much more likely to want to do business with you. Fumbling with a phone or writing your information on a piece of scrap paper doesn't give the right impression. Show your professionalism with plenty of neatly stored cards that make exchanging information a breeze. 6. The Show What You Do: If you work in a unique industry that's hard to explain, a business card can help the conversation move forward. If you can hand out a card with a succinct explanation of what you do, or even a visual representation of it, you don't need to worry as much about your explanation. Ultimately, doing business is about getting results. Even if your industry is hard to explain, your business card can demonstrate the results that you will get. For example, a graphic designer should be able to hand out a beautifully designed card that offers an example of their work. Even if your design niche is unconventional, your card will be able to speak for you. 7. They Are Tangible: Humans are creatures who rely on our senses. Even though it's easy to forget it in the modern world, tactile objects speak to use on a deep level. When you have someone a physical business card to hold, they're having a visceral experience that can make the moment seem more important and memorable. If your business card is made of high-quality material that feels nice to hold, even better. Your card can use multiple senses to offer the right impression. It should feel nice - for example, a raised font can make professional business cards luxurious to hold. It should also look attractive - use both visual and text elements to gain attention. Make sure to keep your cards looking nice with a professional business card holder, too. 8. They Can Have Multiple Purposes: Business cards don't have to just give out contact information. They can also feature coupon codes, fun facts, or helpful information, such as a diagram. Or you might want to include space on your cards for handwritten notes to remind the recipient of when and where you met. Find Out What Professional Business Cards Can Do For You Don't just take our word for it - order professional business cards today and see the difference they make. When you start handing out business cards, you'll open the door for all kinds of opportunities you would never have expected. Looking for more ways to grow your business? Check out our tips here. Read Also : 10 Tips To Design The Perfect Business Card How Photography Projects Can Improve Wedding Business

Investing in Precious Metals

Add precious metals to your investment portfolio for diversification and security, but make sure to select wisely as each type of metal and investment vehicle has its own set of benefits, risks, and drawbacks. Protection From Economic Uncertainty Gold and silver have long been seen as symbols of wealth and currency, providing safe investments during times of economic instability. Furthermore, these precious metals have numerous industrial uses including jewelry production and electronics manufacturing that keeps demand for them at an all-time high. This demand ensures their prices will always remain elevated. Gold and silver investments are also an excellent way to diversify your portfolio, according to many financial advisors. Diversifying includes stocks, bonds, mutual funds, and exchange-traded funds as an overall approach, but adding gold or silver may further lower risk by spreading out your investments across many asset classes. There are various methods of investing in these types of assets, from purchasing physical bullion (gold, silver and platinum coins and bars) to investing in mining companies that produce these products. You can click here to learn more about investing in mining companies. Both options provide tangible investments but some may incur higher storage and insurance costs. Furthermore, physical bullion is subject to higher capital gains tax rates when sold compared with other investments. Alternative purchasing options exist through rare earth elements royalty and streaming companies. These firms own the right to receive set quantities of these assets over time for a fee, offering diversification without incurring additional risks in owning physical bullion. An alternative approach to precious metal investment is investing through your 401(k) or another retirement account, providing diversification with tax-deferred savings benefits. However, before making any decisions related to your retirement plan it is advisable to seek guidance from an independent advisor. Others choose to partner with a well-known company like Goldco for their investments. It is important to do research on any company or advisor you are considering working with. Diversification Diversifying your portfolio is one of the main tenets of investing, as this helps reduce risk when stock markets crash or unexpected market events take place. One way of diversifying is adding precious metals as their price usually follows different market trends from stocks and bonds. You can click the link: https://www.investor.gov/what-diversification for more information. Investors can purchase physical rare earth elements such as gold, silver and palladium or invest in investment products derived from these assets - including mining stocks, streaming companies or royalty companies that generate revenue through sales of rare earth elements, ETFs and mutual funds that specialize in these types of investments, and futures contracts. All these options provide investors with the diversification benefits they seek, yet each presents unique risks and opportunities. Gold bullion, for instance, is one of the direct forms of investments, but requires significant storage space to hold. Furthermore, its initial costs may make entry more challenging. Precious metals-based investment products offer lower barriers to entry, but can still carry risks, including those related to mining companies' share prices falling due to cost overruns, mismanagement or financial issues. Gold and silver tend to increase in value during periods of economic unease as they serve as safe havens. Furthermore, their widespread applications such as jewellery making, electronics production and batteries make them likely safe bets as the world continues its advancement and progresses further. Investors can also use precious metals as a hedge against inflation and to preserve their purchasing power over time. As interest rates and printing of money by the Federal Reserve increase and cause the dollar's value to decline, the price of commodities such as gold and silver are impacted. Exchange Rates Precious metals provide an alternative form of money that's resistant to inflation and economic uncertainty. Due to their intrinsic value and the "safe haven" reputation they enjoy as investments, physical bullion may make for an excellent addition to any portfolio - though investors should carefully consider their financial situation, strategy, and long-term goals before making decisions regarding these types of investments. Precious metals have become an increasingly popular investment choice among investors looking to protect their wealth against economic instability and inflation. Precious metals provide investors with an effective, stable way of diversifying their wealth as they are less volatile than stocks or other investments which may experience sudden drops. Furthermore, precious metals provide tangible assets which can easily be converted to cash. Investing in precious metals is an excellent way to safeguard against inflation and other economic risks; however, it is wise to conduct thorough market research before making decisions and consulting an expert about which options are suitable for your particular situation. Security Even though precious metals can be bought through traditional brokerage accounts, most investors prefer investing directly in physical precious metals by purchasing and storing physical precious metals themselves. While this method may be more costly than trading stocks or bond ETFs or mutual funds, having physical precious metals in your hands provides instantaneous access when economic uncertainty strikes - an invaluable asset during times of economic uncertainty. Physical precious metal investments offer another distinct advantage: They're private assets. You are the only one who knows exactly the details of your portfolio, which makes it more secure than many modern investments. This feature is especially advantageous for families that wish to shield their wealth from outside financial consultants or government agencies. Each metal has different economic sensitivities, technical properties and uses. Gold is often used for ornamental purposes in jewelry design while silver has multiple industrial applications including electrical appliances, medical applications and batteries. Meanwhile, palladium shares many of the characteristics found in platinum but has even greater industrial uses as it's used in automotive catalytic converters, ceramic capacitors in chargeable electronics systems, groundwater treatment processes and manufacturing processes. Though investing in precious metals may provide many advantages, it is also crucial to be aware of any associated risks. Diversifying your portfolio and finding a dependable broker or dealer is crucial when purchasing and selling precious metals. Read Also: Is Investment Bankers/Brokers/Service A Good Career Path In 2021? 5 Reasons Why Bitcoins Are Considered Reliable Investments 5 New Assets To Diversify Your Investments In 2021

Investing In Office Space For Your SME: What To Consider

Shared or Private Space?

Renting or Buying?

Is It Practical?

Importance of Flexibility with Business Technology

How to Save a Struggling Company

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Related

Tips For Protecting Your Overseas Shipments

Top 8 Benefits of Professional Business Cards

Investing in Precious Metals

Investing In Office Space For Your SME: What To Consider

Shared or Private Space?

Renting or Buying?

Is It Practical?

Share this Article

Importance of Flexibility with Business Technology

How to Save a Struggling Company

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

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