Things You Should Know Before Installing Office Space in London

Date: Tue Aug 20 Author: Chelliah Nakeeran

London is an attractive city in which to run a business on several levels. The UK capital is recognized as one of the top trading centers in the world and regarded as one of the most important cities for business.

However, London is also very expensive and known to significantly damage the budget limitations of numerous businesses. With Brexit looming, setting up a business in London could be even more expensive.


The Cost of Installing Office Space in London

Reports indicate that most businesses renting office space in London are often left short-changed. Exorbitant costs can leave small businesses and start-ups out of pocket or with insufficient space for their needs.

The average cost of renting office space in London is between £65 sq. ft a year to £133 per sq. ft a year. On top of that, you have to factor in costs for a receptionist, server, utilities, maintenance and VAT.

According to research conducted by visual.ly, renting office space in London can cost at least £28,041 a year    . Then you’ve office equipment to purchase including furniture, computers, printers, scanners, software and any other tools you need to raise your performance.


Serviced Office Space

Conventional office space is often far too expensive for business start-ups. Unless you have a significant amount of capital to invest, buying a property in London is out of the conversation.

Rented office space could be an option but are often expensive and subject to unquantifiable charges such as utilities, maintenance, security and facilities costs.

The most cost-effective solution is to rent affordable serviced office space on a flexible contract. This means you only pay for the space you use when you use it.

Many virtual office service providers also provide additional services that help you reduce costs and manage your budget including telephone answering services, professional receptionists and meeting rooms for hire.


London’s Most Affordable Office Space Locations

As mentioned above, the cost of renting office space in London varies dramatically. Euston, Tower Hill and Chiswick are the most cost-effective areas with a good postcode whilst Marylebone, Paddington, Knightsbridge and the West End is far more expensive.

Other than location, the cost of office space is charged by square metres. Ideally, you want to find offices that are big enough to provide sufficient workspace and accommodate the health and wellbeing of your staff.

The modern workforce takes the working environment into consideration before accepting a job or staying with a company. If your team is cramped into an office that is not big enough to meet their needs you risk losing your best staff.

Virtual offices in central London could provide an ideal solution. LowCost Letterbox have offices in two prestigious addresses with a W1 postcode, one near Oxford Circus underground station and the other in Baker Street.

Our offices are spacious and give you access to all the facilities you would expect from a fully-functioning office. Our professional staff is highly trained and always on hand to offer assistance whenever required.

If you need a cost-effective solution to help you successfully set up a business in London, our virtual office space gives you the flexibility and all the facilities you need without damaging your finances.

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Advantages of Having A Virtual Office for Your Business Needs

Date: Fri Jul 26 Author: Chelliah Nakeeran

A virtual office provides businesses of all sizes and budgets several key benefits.

No matter how often you need to use office space, a virtual office enables you to create a physical appearance without the financial burden of expensive overheads typically associated with running a business from an office.


Official Register Address

If you’re a limited company, you can use our address in central London to register your company with Companies House. Given their records are available in the public domain, having an official address in London W1 helps project a positive image for your company.

A virtual office also gives you a physical address to receive post. This is an ideal solution for directors that are legally obligated to have an official mailing address but don’t want to publish your private address in the public domain.

Furthermore, our mail scanning and forwarding service mean you always have access to your mail without having to pay for a physical location.


Access to Office Facilities

There will be times when you need to use typical office facilities such as a printer, scanner, fax machine or deliver a presentation. Virtual offices provide you with easy access to all the usual office facilities you would expect to be available in your own office.

What’s more, we also have virtual meeting space. Therefore, if you need to meet a client in person you can hire a meeting room for as long as you need. We even put up signs with your company name and logo on it to create the impression the virtual office space is a permanent placement.


Dedicated Telephone Line and Receptionist

Receptionists project a good image for your company and can field calls you may be too busy to take yourself. With our telephone answering service, you have access to a professional receptionist and a dedicated landline at a fraction of the cost.

Professional receptionists demand a significant annual salary which may not be financially viable for many businesses. A telephone answering service also means you never miss a call when you are otherwise engaged in a meeting or stretched to meet a deadline.

Our receptionist will take the call for you and pass it through to your mobile or landline. You will see the number of the caller on your screen – so you can choose whether you want to take the call or not. Our receptionist will even take a message for you and answer basic questions.


More Flexibility

If you are an established company with existing employees but looking to cut costs, or you are switching location, renting virtual office space gives you the flexibility for both short and long-term periods.

You can rent office space from as little as one hour to as much as an entire year. Should you need to book for long-term residency you even get the benefit of a discount.

Virtual office space gives you more flexibility. You only need to pay for the desks, offices or meeting rooms you use and because virtual office space is significantly less expensive than most offices cost to rent, the savings you will make can be put to better use in other areas of your business.

Even if you are relocating to another office and need a short-term fix in-between times, virtual offices provide a cost-effective solution. Virtual office space is being adopted by companies of all sizes and for a variety of reasons so why not take advantage of the benefits.

If you want more advice about our virtual office space and the additional services we offer, get in touch today and speak with a member of our friendly team.

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PO Box Address Services: What You Need To Know

Date: Wed May 29 Author: Chelliah Nakeeran

PO Box address services have changed significantly in recent years. Yet when people think of a mailbox service, the first thing that automatically comes to mind is the traditional PO Box service offered by Royal Mail.

These conventional Royal Mail PO Box addresses don’t provide you with an actual address. This can be a disadvantage for some users.

Subsequently, PO Box address service providers like LowCost LetterBox, have created an alternative solution. We call them mailbox addresses to differentiate them from the traditional PO Box service.

Mailbox addresses give you all the benefits as the age-old PO Box. They provide you with a private mailing address to receive and access mail in a secure environment.

Although a PO Box and a mailbox rental address are fundamentally the same, there are several significant differences between the two.

Why Do You Need A PO Box or Mailbox?

Having access to a mailing address other than your private residence can provide you with several advantages. The type of people who typically benefit from a PO Box or mailbox are:

  • Small businesses, freelancers and entrepreneurs who work from home
  • Businesses that want to keep their office address out of the public eye
  • Company directors who do not want to publish their residential address in public forums
  • Overseas businesses that want a mailing address in the UK
  • Residents in shared or temporary accommodation who want sensitive mail to remain private and secure
  • People who receive sensitive mail at a location shared by others and thus at risk of fraud and identity theft
  • Expats who need a PO Box in the UK for business and personal use
  • Frequent travelers who do not have a mailing address

What Can You Expect From A Smart PO Box Service Provider?

Renting a mailbox provides you with an actual address. At LowCost LetterBox, we have several mailbox addresses in London, including prestigious addresses in Oxford Circus and Baker Street.

The capacity to publish an actual address on your website, business stationery and marketing materials is particularly advantageous for business owners, freelancers and entrepreneurs who work from home.

A physical address projects a positive image of your business and lends credibility to your services in the minds of prospective clients and customers. Large businesses can also benefit from mailing addresses.

When you register as a limited company in the UK, you have to report your official mailing address to Companies House and publish the address on your website.

Directors of a limited company are also obligated to report a physical mailing address to Companies House. Again this information is made available to the general public.

A PO Box mailing address provides you and your company with privacy and protection. It is not unusual for unwanted visitors to turn up at your home or place of work.

A PO Box service provider is obligated to maintain client confidentiality. We will not reveal your private address to anybody – other than the police if they are investigating a crime.

PO Box Mailing Address in the UK

You don’t have to be a UK resident to benefit from a PO Box mailing address in the UK. You can live anywhere in the world.

If you are the owner of a business overseas, an expat or travelling the world, a PO Box mailing address in the UK is a convenient solution. LowCost LetterBox also provides mail forwarding and mail scanning services.

Mail scanning involves scanning your post to our secure servers so that you can access them on your mobile phone or computer – no matter where you are in the world.

Alternatively, we forward your mail to an address you provide us. This means you are free to move around at will. Just let us know your change of address. With a PO Box postal address, you only need to inform one company one time rather than a dozen or so people every time you change location.

Renting a mailbox also means you can receive parcels and packages shipped by international couriers. The standard PO Box service offered by Royal Mail does not enable you to receive post from third-party couriers.

What’s more, Royal Mail does not sign for recorded deliveries. Subsequently, if you only have a standard PO Box, you are limited as to the type of post you can actually receive there.

LowCost LetterBox is happy to sign for recorded deliveries on your behalf. We will even forward them on to you or keep them in our secure fulfilment centre until you collect them.

A modern mailbox rental service offers you much more flexibility than the standard PO Box service.

LowCost LetterBox also provides a wide range of other services that you may find useful alongside a smart PO Box mailing address. Check out our standard packages or tell us what you need and we can customise a package that is tailor-made for you.

Related articles:

PO BOX IN LONDON: HOW DOES IT MAKE A GOOD BUSINESS IMPRESSION

HOW A VIRTUAL OFFICE CAN HELP YOU (RUN YOUR BUSINESS FROM HOME)

BREXIT: HOW TO KEEP START-UP BUSINESS COSTS DOWN AFTER 

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How To Register A Private Limited Company in the UK (2019)

Date: Mon Feb 25 Author: Chelliah Nakeeran

If you intend to start a private limited company in the UK, you have to register your business with Companies House.

Before you decide to set up a business in the UK, you need to decide whether you will register as a private limited company (LTD), a public limited company (PLC) or a limited liability partnership (LLP).

The type of company you register is an important decision to make in terms of tax obligations and how the company is administered should you go into liquidation.

You will also need to think of a company name that is not already taken. Check on the Companies House website for availability together with the restrictions imposed by UK law about the naming of a business.

The name of your company should not contain any sensitive words or sound too much like an existing company. If you plan to build a website, the name of your company may also be influenced by available domain names.

Registered Office

Private limited companies in the UK are expected to be held accountable. Subsequently, the address you register with Companies House must have a physical presence.

Also, when you register as a private limited company in the UK, your business address, and the director’s service address will be in the public domain and available to anybody. Subsequently, it’s best practice to avoid registering your home address. The security issue alone could be a concern, but it also leaves you open to an increased number of cold calling and potential cyber attacks.

Check out this business forum to see real-life issues involving business owners that have registered their home address with Companies House. It’s not a comfortable read.

Directors Service Address

The directors of private limited companies are also obligated to register a service address. The service address must also be a physical location where directors can receive personal mail together with authorised notices from HMRC.

A service address does not have to be located in the UK. It can be anywhere across the globe. However, most people will use the registered address of the company to boost the credibility of directors.

The service address you choose is also published in the public domain and readily available on the Companies House website. Therefore, it is better to avoid using a home address.

Register A Limited Company Through A Registrar

Although you can register with Companies House online, the most cost effective and easiest way to register a private limited company in the UK is to use a third party registrar.

Using a company formation service agent gives you several distinct advantages;

  • They are less expensive
  • You can use their address as your registered address
  • Saves you the hassle of filling out registration forms

Companies House charge a £12 fee to register a private limited company with them online. If you do this by post, the cost is £40. Processing time is 8-10 days. For same day registration, the fee is £100.

On the other hand, you can register your private limited company with LowCost LetterBox for as little as £2.99. We can even register on the same day and send you the official documents by email within three to six hours.

Using our company formation services gives you the confidence that your application will be registered swiftly and correctly. Furthermore, we have physical addresses in central London and the surrounding areas which also project a positive image for your business.

To avoid making the private address of directors available to the public, using the services of a company formation agent provides you with security. Plus you get a prestigious London address that can really give your business a boost.

Related articles:

PO BOX IN LONDON: HOW DOES IT MAKE A GOOD BUSINESS IMPRESSION

HOW A VIRTUAL OFFICE CAN HELP YOU (RUN YOUR BUSINESS FROM HOME)

9 TIPS FOR COMPANY FORMATION IN 2017 (FOR THE UK BUSINESS)

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BREXIT: How To Keep Start-up Business Costs Down After Brexit

Date: Thu Jan 31 Author: Chelliah Nakeeran

Brexit has potentially scuppered the plans of start-ups and small businesses. Other than the damaging financial setbacks, there is heightened uncertainty over admin time spent on paperwork, cash flow and delivery services.

Teresa May’s exit strategy has been met with derision and concern by small business owners. Start-ups also face an even steeper incline following the government’s failure to negotiate a deal that allows Britain’s businesses to trade in the EU single market.

Once Britain leaves the EU on 29th March 2019, businesses in both the UK and in Europe will be hit with VAT costs upfront on all imported and exported goods.

The additional expenses piled on business owners could create problems with cash flow and profits will take longer to recoup. As a result, small businesses trading between the UK and the EU need to find alternative solutions to save cash.

Reduce Overheads

Female office worker or business woman cuts a piece of paper with the word overhead on it as an overhead reduction business concept.

The biggest cost-saving initiative for start-ups is to buy a business mailing address and use virtual office facilities as and when needed. Virtual offices remove a huge financial burden typically associated with running a business from a physical location.

The rental costs are a fraction of the price you would pay to lease an office. You will also make huge savings on utility bills, insurance and IT infrastructure.

Not only that but when you rent virtual office space, you can even take advantage of admin services that are typically associated with a business.

For example, some companies provide telephone support and mailing services where your customers can reach you.

Gain Credibility

Close up Businessman Arranging Small Wooden Pieces with Integrity Letters on Black Background.

Our virtual offices even have meeting rooms in a first-rate modern building where you can meet with your clients in person. You can hire meeting rooms or hot desks by the hour and have access to Wi-Fi, a reception and refreshments.

As a result, you can reveal that you are a legitimate business without paying hefty overheads. Furthermore, you can invest the savings in other areas and grow your business quicker.

Work From Anywhere

urban man working on laptop while sitting on land in forest

A business mailing address in London can improve your professional image and create a good impression with customers. Small businesses that can still survive in London in a post-Brexit world have to be successful!

For all intents and purposes, when you have a business mailing address, your business appears to be running from the physical location stated on your website, stationery and business cards.

In terms of communication channels, it is.

However, a business mailing address gives you the freedom to work from anywhere. This can be from your home address in London, or anywhere else in the UK.

As a matter of fact, it can be anywhere else in the world. With a business mailing address from LowCost Letterbox, you have access to an entire fulfilment centre.

We accept post and parcels from all the major delivery services and can forward on your mail or scan it and send to a mobile device or email. If you do live in London, you can collect the post yourself from one of our five fulfilment centres.

Just because the majority of Britain voted to leave Europe, it doesn’t mean that small businesses in the UK have to stop trading in the EU market. You just need to find solutions that enable you to turn a profit.

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