It can be really hard to take the next step once you’ve started your own business – that step of moving out of the home and into an office space. But with the right money saving moves, you can give your company that professional edge without breaking the bank.

Traditional long lease commercial property may seem like the best option, but what you save in rent can go into other channels you simply shouldn’t spend money in. Remember, you’ll need to furnish and decorate, as well as secure, your offices. And then there are the headaches of dealing with all those utility bills and other admin tasks, not to mention any issues you may have with building dilapidations.

A growing number of small businesses are instead opting to rent space in a shared or serviced office building. While you’ll pay a little extra, you remove admin hassles and gain an awful lot of flexibility – you can move in and out when you need to, thanks to short term nature of these deals, while you also only rent the amount of desk you need. So when your situation changes, your costs do too – you don’t have to worry about renting more space than you need ‘just in case’.

Location, location, location

Another important consideration should be location. For example, if you’re looking at London office space your first thoughts might be for the city, or a trendy suburb. However, chances are these kind of office locations are going to come at a premium price.

Local knowledge can be real boon here. Do your research and look for up and coming areas being redeveloped, or less fashionable yet safe locations. As long as public transport is good, or the area has good parking, you may well find you’ll not only save money, but also be in a much nicer position for both you and your staff. If you really want to save, consider opening your net even wider.

Rent your own space out

Of course, as long as your landlord will agree to you sub-letting, you can consider becoming a landlord as well as renting out your own office space. There is an ever growing number of freelancers, small businesses and entrepreneurs looking for office space – why not rent somewhere slightly bigger than you need and get income from some small businesses?

‘Deskers’ can rejuvenate the atmosphere in the work place, as well as giving you the opportunity to create new working relationships and friendships. People who rent desk space tend to be in creative industries, such as journalism, programming and design. They can not only add to the general office buzz, but also crate solutions to problems and act as a great sounding board for ideas – as well as providing your business with extra income.

In the end, whether you consider becoming a shared office or renting one, there are some clear ways to save money for your business in both routes. Of course there are possible downsides, as you’ll have to compromise on space, location or control, but done with proper planning and forethought you can markedly improve the position of your business.

About the author: Chris Marling writes on behalf of officegenie.co.uk, the UK’s first proper online marketplace for desk space and shared office space.