Every startup intends and hopes to create a healthy working culture that will attract talent and retain smart employees whilst making room for consistent growth. New startups need to be  flexible and maintain low overheads at all times. If you have bootstrapped your business or intend to finance your startup with loans from friends and family staying lean becomes even more crucial.  One of the key and most important decisions for most founders  is the choice of office space for the business.  But the big question is-do you really need an office space? or just  an address and a phone number will be good enough for you in the  beginning.

The  growing trend of shared office space has worked for most startups and could be a good choice for you depending on the stage of your business and its requirements. Co-workers have access to modern communication services, workspace, conference rooms, shared printers and a community of other startup founders and employees. Other startups could be your potential customers or introduce you to prospective business partners or investors. There are lots of advantages for for early stage businesses who share office spaces with other startups. Shared office works best for teams whose size is under 3 employees.

And sometimes renting a home/apartment is cheaper and less expensive than an office, with other facilities at your staff’s disposal. You can start with a single room and grow to a few rooms where necessary. You can comfortably manage your furniture expenses– all  need after that are your laptops. Of course you will be paying your monthly bills and basic startup accessories.

There are a few things to consider when you have to choose an office space. Its good to have short-term lease when renting an apartment or sublease is good enough for your growing business. Be flexible in your lease arrangement. Leave room for growth and expansion in the future, you may have to move earlier than expected. Even in the choice of a shared space you should consider these: what type of environment will attract and retain employees? Transport, parking, amenities and distance. Create a conducive open culture in your office  in the beginning to make it easier for the first employees to communicate without struggle. Set the standard right for the future.