In July the Office for National Statistics said that over the last year rents had risen by an average of 2.5%, especially within the capital. Figures have risen by so much that since 2013 some office spaces in London are more expensive than Paris, Sydney and New York.
Pearl Scan Solutions may be advocates for the digital revolution, but that doesn’t mean that we can’t help businesses save money. Take a look at our top tips for beating rising rent and see how much money your business can save whether in London or not.
Look At Areas with Lower Costs
Taking the time to consider other areas is the first step to saving significant amounts of money. In London alone there have been many companies move out to the city fringes. Looking in areas that are outside a city itself can reduce rent by almost half in some cases - especially in the capital where the smallest office spaces can cost a small fortune.
Consider whether or not it would be possible to work from home one or two days a week. Encouraging employees to do so can help save 15-20% of space used on a daily basis. Project management systems such as Basecamp or Zoho allows employers to manage employee work remotely, without having to pay the rent for an office space.
If you have an office spanning more than one floor, consider whether your business would benefit from working on a single level. Creating an open plan work space can make an area seem less enclosed. This means that businesses are not spending more money than they have to on renting multiple office spaces.
Embracing the digital revolution can help save up copious amounts of space. By using IT to reduce hard storage and the size of desks, offices can downsize and save on the rising rents. Going paperless also allows businesses to dramatically reduce the amount of paper they use which leads to further savings. Read more about our paperless office solutions.
Tip: Work out how much paper your business is using a year with this simple equation by wrap.org.
Purchased per year ÷ Number of staff in your organisation = Total paper use (reams/person/year) Total cost of paper purchased per year (£) ÷ Number of staff in your organisation = Cost (£/person/year)
Do you have any tips on how to beat ever rising rent? Share your thoughts with us on social media. We want to hear from you!