Market Trends of China Flexible Office Space Industry
This section covers the major market trends shaping the China Flexible Office Space Market according to our research experts:
Growing Number of Small and Medium Enterprises (SME's)
- Many technological processes and innovations are attributed to small and mid-size enterprises (SMEs). One such fashion being immensively adapted by SME's is flexible Office Space Market in China.
- Each year , there are about five million more SME's in China , representing atleast 10 % year over year growth rate.
- More and More SME's are switching towards flexible office space because it reduces the occupancy costs. The cost of finding , leasing and equipping own office in today's market is costlier. Flexible Offices gives an option to work from attractive , fully-furnished workspace at a fraction of cost of leasing company's own building.
- Another main factor attracting SME's to adopt flexible office space is no long - term leases. AFlexible Office spaces provides an option of short-term leases for new startup's and small bussiness such as month - to - month agreement which saves the much needed fund.
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Corporations are focusing on reducing the overhead costs
- Overhead Costs are the bussiness - related expenses. This term mostly refers to ongoing costs for general business functions, or costs that is paid even when one donot produce or sell anything for a period of time.
- Almost all the corporations in China are focusing on reducing the overhead costs in order to gain more profit. Opting for Flexible Office Space Market rather than own building setup is one of the most helpful way for corporations to reduce overhead costs.
- Most Oftenly ,commercial/office spaces make up a huge part of your overhead costs. Decluttering the huge office and renting a smaller one helps the corportaions to gain more profit. Work From Home is also adopted by many companies to reduce overhead costs.
- According to iiMedia, 54.1 percent of surveyed tenants stated that prefer flexible office space because of convenience. Rest of the important reasons where good working conditions , cost saving options and advanced facilities provided by flexible office companies like amenities, such as conference rooms, recreational, and catering facilities etc.
