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No matter where you are in the world, location is a big deal. It influences where we live, work, and spend our vacations, even if we never leave the country we were born in. It’s a motivating force and, every year, it encourages millions to seek out bright lights and big cities. In Malaysia, the capital Kuala Lumpur continues to draw people from all over the globe.
It’s a place of great opportunity for entrepreneurs. Rent rates are low, there are tax advantages for foreign investors, and the business culture is vibrant. There are also plenty of impressive locations to choose from when setting up a company. As the right one can mean the difference between success and failure, it’s important to pick carefully.
This article will explore the impact of office location and why it’s worth spending a little more for a lot of prestige.
The Main Options in Kuala Lumpur
If you’re looking for an office in the capital, you’ve got more options than you think. Visit www.servcorp.com.my to see some alternatives to the traditional, long-term lease. While it’s true that three to five-year contracts are the norm, they’re starting to fall out of favour.
More entrepreneurs are embracing flexible office solutions. These include coworking spaces, virtual offices, and managed workspaces. All are available in Kuala Lumpur, and many are located in prestigious neighbourhoods. This is important if you want to build a strong brand.
The Benefits of Urban Addresses
It’s necessary to consider demographics when picking an office location. For instance, you don’t want to settle in a sleepy village if your brand appeals to dynamic, cosmopolitan personalities. Similarly, if you sell luxury products, you need to be around wealthy consumers.
City addresses are wonderful because they give businesses the best of everything. There are so many communities, age groups, societies, niches, and classes that you’re bound to find one that resonates with your brand. This is how you put a business at the heart of the action.
Investing In the Best
Even within a city like Kuala Lumpur, there is a wide variety of neighbourhoods, locations, and addresses. Obviously, your budget will play a part, but it’s worth spending a little more to secure one of the top spots. With a flexible office solution, this is a possibility for all businesses.
You might have limited funds, but an office in the centre of the city is going to be much more affordable if it comes with valuable perks. For instance, serviced suites offer not just the physical office space but all of the utilities as well (heating, lighting, cleaning, etc.)
The Freedom to Be Wrong
It’s really important that you pick carefully, as a wrong decision will cost you money. On the other hand, businesses should have the freedom to rectify poor choices because finding that perfect office is tough. You might get it wrong the first time.
With a serviced office, the consequences of a poor choice are intentionally minimalised. These vendors don’t lock tenants into their contracts. If you want to leave, even after a month, you have the freedom to do so. There are no penalties, and they may even help you find another workspace.
The Power of Flexibility and Choice
You might not go for a serviced suite. You could choose to embrace remote routines and split your focus between a home base and a virtual office. If you’re a freelancer or independent contractor, you could sign up with a coworking provider. There are many options available.
The difference between these flexible solutions and a traditional lease, with a long hold landlord, is that you can leave them quickly if it doesn’t work out. After all, starting a business is a trial and error affair. It’s a learning process, and even bad decisions are a valuable tool.