Choosing an office space for a business can be a bit of a hassle because it can either take you closer to your customers or further away from them. This means that the decision can also affect your profit margin.

Here are five important things to consider when selecting a commercial space or an office for your business.

Bag a prestigious business address

Location can be key to growing your business so choose wisely. Depending on the kind of business and who your customers are, a proper business address and a prestigious one for that matter will help attract clients.

Proximity to clients or target market

Who are your clients? Where are they located? Are they in the central business district or further afield? This should be factored into your decision in choosing the right commercial space for your business.

Accessibility to the airport, banks and other businesses

Large businesses which operate overseas may need to be close to the airport. Conducting financial and other business transactions should not take much time so being situated close to banks and other major offices should be included in the plan.

Possibility of expansion

Every business with a vision of possible expansion should also look for space that can serve their needs when they are growing. Extra space for extra staff should be top of mind for business owners. If the space is not large enough to expand, take a shorter term lease.

Convenience and cost flexibility

What are the payment terms? Can you negotiate with the landlord when it’s time to renew contracts? How flexible is the cost and the payment method? Find out before making payment for the space

Consider going virtual

In this technological era, businesses which do not require physical location to work can consider a virtual office. Virtual offices provide businesses with a professional presence. This is a very good option for start-ups.

In Accra for example, Regus virtual office gives businesses the opportunity to use their address and provide administrative support like taking care of your emails. Even when your business is not physically located in Ghana, Regus can provide you with a local number and can answer phone calls in your business’ name.

Other advantages of using the virtual office includes not worrying about paying long term rent and utilities, therefore, saving a lot time and money.

According to the General Manager of Regus Ghana, Josephine Kwatchey, virtual offices are quite new and yet to catch on in Ghana. “People are crying about the cost and forgetting that we are using the service-office concept. We normally have to explain the cost being the fact that you get an already furnished office and it is a good place for start-ups.” She adds: “Virtual offices give them a better image and proper networking opportunities.”

This post was sponsored by Regus Ghana, one of the top managers of office spaces in Ghana. They offer both private and virtual offices as well as coworking to suit all business types. They can be located at Ridge on the GNAT Building and Airport on the Aviation Road.