Without stating the obvious, if you’re thinking about starting up any new venture in this the commercial capital of India here are some things, you need to know.
Firstly, you are in the 17th most expensive city in the world according to a global survey of cities to live in. One of its streets boasts the fourth most expensive real estate rate on the planet. Start-ups should be good at reading between the lines don’t be fooled by what any newspaper will tell you, despite what the world is calling a recession of any industry things will always get more expensive here and it will most definitely affect you. Where do you, the little hungry start up feature in all this? You should well ask. At this point the only thing you need to do is factor your costs. Do I need to rent? Where do I need to rent? At what point should I rent? How long before my friend throws me out of his house? Etc. If your company has grown past a certain point and you now have to start meeting people and you’re thinking I need to look more professional than the average coffee shop table company, then you have two logical options. To rent or not to rent?
If it is rent, then affordability may mean inconvenience in terms of distance and the costs of running an office are not a joke. The tiniest thing in terms or repair and maintenance to infrastructure to perishable commodities consumed by occupying even the smallest of office spaces all add up. In the beginning it’s all about keeping costs low. It’s important to know what is on offer competitively in the market and decide what works best for you. Fixed costs withstanding today there are great alternatives to renting an office full time. Companies like the Empire Business Centre offer flexible occupancy schemes where you can use state of the art office facilities from desks to video conference room facilities at start up friendly rates on more flexible schemes than conventional renting. Progress for every small company is inevitable but seeing to the financially delicate needs of a fledgling company is crucial in the early stages so that the one-day dreams of a big corner office come true.
We hope this information proves useful and if you have any other ideas you would like to add, leave them in the below comments section. And most importantly, cheers to a successful you.