The Top Questions to Ask Yourself Before Renting Office Space in Manila

February 11, 2016 | Sharon Cheong

Today, entrepreneurs find Manila to be an inviting country that welcomes new businesses each year. Numerous well-known corporations have built an off-shore presence in Manila and Makati City. Though many have adequate resources to build their manufacturing plants and establish professional offices, others do not. Though small startup businesses can make it big in this region, it requires a financial investment to lease office space and begin doing business there. There are permits and licenses to buy, along with equipment to purchase.

1. Primary Questions

Before taking that big step to rent your office space in Manila, there are some important considerations that entrepreneurs should be aware. The number one thing that a new business needs is cash flow. You will have employees to pay each week and regular bills coming due. It often takes, at least, six months to make a profit. During this time, it is important to make sure you can keep paying the utility bills, the rent and employee salaries. This is one of the main things to ask yourself before renting office space in Manila: Will you be able to pay those ongoing expenses each month?

2.  Other Options

Some new business owners take advantage of leased office space. With leased or virtual office space, you do not have to rent a dedicated place and put up big deposits to have utilities turned on. Instead, you work in an upscale environment that already has Internet service, electricity, employees, and many other amenities. If you do not have much cash to get started in your new endeavor, then this is an excellent option. Of course, there are some providers of leased office space who offer their patrons more for their money. Before settling on a leased office space provider, check with the local companies that offer virtual office space. Ask about the features that are included in your monthly fees.

3. Keeping Expenses Predictable

Another area that is sometimes troublesome is the fluctuating costs that come along with renting individual office space in Manila. One month the utility bills might be much larger than others. Salaries can also fluctuate, especially if you require overtime from employees. Leasing a virtual office space allows your expenses to be the same each month. You can see ahead of time how much you'll spend on all your miscellaneous expenses. This can prevent you from going over budget and help keep the cash flow strong.

Though having your individual office space is nice, it does come with a hefty price tag. With virtual space, you pay just one fixed price for everything including office space, phone service, mail service, utilities, and internet service. This is a great benefit to many new business owners who are trying to make a go of it. The formula for a successful startup includes keeping costs and overhead low and avoiding any unnecessary expenses. That is often the number one thing a new business owner should ask: Is it worth it to pay extra money each month to have a dedicated office space?

Leased Office Space from Servcorp

Virtual or leased office space is utilized by large and small companies around the world. It is the perfect solution to keep costs at a manageable level. The costs are predictable and will fit nicely in your budget. You can get the space you need in a prestigious building in Manila or Makati City that comes with all the features to achieve success. You'll have a dedicated receptionist who is bi-lingual, and that is included in your monthly fee. Virtual office space from Servcorp Virtual Offices is flexible. You can make changes to your services simply by going online. Avoid unnecessary things like spikes in the electric or phone bill. When your business starts to grow, add the space and services as needed.

Servcorp Serviced Offices offer luxury office space in beautiful high rise buildings located in Manila and Makati City. With 140 offices around the world, Servcorp has become known as a quality provider of leased office space. Please call +63 2 755 6500 today to learn more.