In this article our partners, office space experts Soul Spaces, break down how leveraging asset finance can take an impending move or fit out to the next level.
Even in the age of remote working, physical office space is incredibly important. It still plays a big role in driving productivity, helping to attract talent and reflecting your company's brand and culture.
More businesses than ever are evaluating their setups, with a view to providing comfortable, flexible and inspiring places to work.
However, office relocations and fit outs can be expensive undertakings. They can put strain on working capital and hinder business growth.
In a post-pandemic world, businesses increasingly prioritise flexible working environments that align with their objectives, growth plans and sustainability commitments.
That said, at its core most office space on the market is functional… but boring.
Customisation helps create an environment that enhances employee productivity and well-being, while encouraging better in-person collaboration. A bespoke office space also acts as a powerful tool for attracting and retaining top talent.
Asset finance is a financing option that allows businesses to spread the costs of a business outlay over time.
Instead of paying for these projects upfront, businesses can secure affordable finance agreements tailored to their needs.
When it comes to office space, this can cover various expenses, from interior design, furniture and equipment to IT infrastructure, security systems and sustainability upgrades.
Asset finance plays a crucial role in office transformations. It can provide your business with the necessary financial resources to create your ideal workspace, without having to wait.
By utilising asset finance, companies can retain their working capital, benefit from fixed rates throughout the finance term and enjoy tax deductions. This type of finance also remains separate from existing banking facilities, ensuring other lines of credit are unaffected.
When considering an office move, asset finance can be used to facilitate lease agreements.
Financing options enable businesses to negotiate favourable terms and conditions, enabling them to secure the perfect space that meets their specific requirements.
Asset finance allows businesses to overcome budgetary constraints and create a space that fully aligns with their vision.
Once a business has secured finance, the possibilities available to them open up. Designing a space that caters to their unique needs and reflects their brand identity becomes an achievable goal.
Whether it's a shell and core fit out, Cat A or Cat B, or a plug and play solution, asset finance provides the necessary funds for creating highly functional and aesthetically pleasing work environments that people love to work in.
While the addition of extra meeting rooms or high end audio-visual systems may have been out of reach before, asset finance makes this type of specification possible.
Even if your business has no desire to relocate, asset finance can help fund long overdue renovations and refurbishments, breathing new life into existing premises.
From updating interiors and revamping layouts to improving lighting, flooring and communal areas, businesses can create modern and inviting spaces without the need to pack up and move elsewhere.
Outdated furniture and equipment can hinder productivity. Employees might even resent coming into the office because of it. Asset finance enables businesses to upgrade their office furniture, IT infrastructure, audio-visual equipment and other essential tools.
Ensuring that everyone has access to state-of-the-art resources massively helps with efficiency and raises employee satisfaction.
If you´re approaching the end of your office lease or have decided the time is right to move, planning is key.
If you’re seeking to transform your office space, either by relocating or fitting out a space, asset finance can be a powerful tool for achieving high grade results.
By spreading the costs over time, businesses can create bespoke work environments that align with their objectives, enhance productivity and attract the best people. All of this will help employees unlock their full potential and create workplaces that inspire success.
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