Sharing an office space can be a great idea if it allows you to lower your overheads. And if your office is more than meeting your requirements then you could actually make a bit of money by renting out some of the space that you are not using. Many companies are still trying to keep their heads above water when it comes to their finances after the worldwide recession, so getting as much money in as possible can only be a good thing. You can improve the financial situation of your business in many ways such as renting out extra space or sharing a space to reduce costs. But before you make that decision to share an office with anyone else there are a number of things to consider first.

While some businesses would work well together sharing an office space, some wouldn’t and it would just cause more problems than it was worth. For example, it would not be a good idea to be sharing an office space with one of your competitors as it would enable them to find out too much about your business. Other businesses just wouldn’t work well in the same office space; for example having a noisy workshop in the same office space as a call centre which would need relative quiet would definitely be a no-no. So the first thing you need to consider when sharing an office space is compatibility.

The next thing you need to consider when sharing is the contract; rules make good neighbours is a very wise saying. In order to maintain a peaceful atmosphere it is vital that both parties fully understand the contract. Make sure that all rules in the contract are as clear as possible so that everyone is working from the same hymnsheet and make sure that the rules cover absolutely everything.

Sharing an office space could be the one of the best decisions you could make for your business as long as you know exactly what you are getting into. Just don’t make any rush decisions as you want to be sure where it could lead your business.

Irrespective of the actual work you do, office space for the admin side of things is vitally important. Depending on what part of the world you live in, this could be easier said than done. If your base was in the Midllands of the UK, as an example, it can be easy to search out office space nottingham.