The capital city of Manila, in the Philippines, is growing and developing at a remarkable pace. In recent years, it has experienced an economic upsurge which has transformed its business environment. It is now one of the fastest growing countries in Asia. Needless to say, this makes it a superb place to start a company.
It is also home to a broad variety of commercial real estate options. It is relatively easy to find serviced office space in Manila because many of the best providers reside in the capital. Serviced suites are ideal for young businesses and expanding companies with tight budgets. The overheads are easy to control, as all logistical outlays are consolidated into one fee.
For more on the benefits of serviced workspaces, keep reading this guide to finding a great office on a tight budget.
Physical Location
Many young businesses are forced to compromise when it comes to location. The offices in the most prestigious spots tend to be the most expensive. This is a problem, because investors and consumers make judgements about a company based on its surroundings. If you’re out in the suburbs, where nobody can see you, you’ll find it harder to make a big impression.
Serviced providers want to change all of that, by offering high end, high-quality workspaces which can be afforded by smaller companies. The idea with these suites is that you can change the terms of use to fit your needs. So, if money is tight, you can choose not to pay for resources that you never or hardly ever use. They can be picked up again just as easily.
A Range of Resources
The variety of tools and resources on offer at serviced facilities are as diverse or as compact as you want them to be. The logistics are all paid for as part of the monthly premium (heating, lighting, air conditioning, broadband, cleaning, etc.) and the rest is yours to shape and define. Most providers do have readymade tiers or packages, but tenants have the freedom to add, remove, or change features.
This is important because all businesses have different needs. While one might really appreciate a 24/7 receptionist, another won’t think it necessary. When it comes to infrequently used features, like boardroom hire, it is a great way to minimise waste. If you need to rent out a meeting space twice per week, this is how often you will pay for it and no more. The same applies to media equipment, IT support, mailboxes, and telephone lines. You are in control.
Fully Negotiable Lease
Not only are the serviced offices in Manila very manageable and affordable, they also don’t force tenants into lock-in leases. As this is one of the most common causes of financial crises for young companies, the freedom should not be underestimated. Most providers work on a rolling, month by month basis. To be precise, leases extend into new months unless you request a termination or a modification.
There are no penalty fees or charges incurred for terminating the contract. Normally, you’d have to pay for the rest of the month, after you requested to leave, but this is the only cost. It is just as easy to move up or down within the facility. Most companies end up shifting their team to a bigger office in the same building, but it is also possible to switch to a smaller workspace.
What to Look for in a Serviced Office
When searching for a great serviced office in the Philippines, prioritise locations in central Manila. The Tower One Ayala Triangle building and the Ayala Avenue are two of the most eminent spots and they are both home to fantastic facilities. Look for the best quality broadband, because constant connectivity is a must. Also, be sure to pick a furnished suite if you want to move in right away.