The coronavirus pandemic has changed, possibly forever, how we live our lives and do business. The effects of the disease, and the containment measures taken by world governments, have particularly affected the economy. Non-essential businesses have been forced to shut down and millions of people have become unemployed. Freelancers and small businesses have been particularly affected as their limited savings have proved to be an insufficient safety-net. In the complicated post-COVID-19 economy, more freelancers and small businesses are choosing flexible private office spaces rather than ‘traditional’ leases. This is why they are making this switch:

Unparalleled flexibility in uncertain times

The coronavirus has negatively affected market liquidity on a global scale. A combination of forced closures, rising unemployment, stay-at-home orders and numerous other factors have led to reduced spending. The post-COVID economy is going to be marked with a lot of uncertainty. Private office spaces offer flexible short-term rental agreements, usually on a month-to-month basis. This is ideal for freelancers and small businesses who don’t want to be stuck with the burden of a long-term lease agreement while dealing with unreliable income streams. 

A safe networking environment

Networking is the life-blood of entrepreneurship. Most freelancers and small business owners have already worked in isolation. In the post-COVID economy, reduced mobility will further isolate them. Within a private office space, you get to (safely) interact with fellow freelancers and entrepreneurs. This can lead to business opportunities, new ideas, and increased morale due to socialization. Being in the same building with other professionals also makes it easier (and probably cheaper) to access the services/products that they offer.  

State of the art technological infrastructure  

The e-commerce sector has really thrived during the COVID-19 pandemic. With stay-at-home orders being in place in multiple jurisdictions, and people generally being apprehensive about going out, more purchases are now being done online. Freelancers and small businesses need to have an online presence to survive during the post-COVID period. Most private office spaces already provide the technological infrastructure you need to do this, with broadband internet, modern computers, and teleconferencing equipment. 

No start-up capital

When you move into a private office space, your only expenditure is the monthly rental cost. Furniture, computers, utility connections, and everything else that you need will be provided for you. Raising the required initial capital investment would be impossible for most entrepreneurs in the post-COVID economy. Savings have been depleted, most businesses were non-operational and lenders are apprehensive about financing entrepreneurship efforts in a troubled economy. Therefore, not only are private office spaces the best option for small businesses and freelancers, in most cases they might be the only affordable option. 

A safe and optimized working environment

Private office spaces exist for one purpose – to provide a conducive working environment. As such, every single design element is included to ensure that workers can concentrate on being productive. Each workspace has the privacy required by small businesses and freelancers for optimal performance. The spaces are large enough to enable multiple renters to work within a single complex while still maintaining social distancing. The safety element is further reinforced by the fact that most private office spaces use disposable utensils. This is a much safer approach to protecting yourself against infection, especially when compared to using reusable utensils. 

Private office spaces are adapting to the new post-pandemic reality      

While valiant efforts are being dedicated to eradicating the coronavirus, most experts believe that it is something that we will have to deal with for an extended period of time. In this new reality, private office spaces are adapting their operational protocols to protect their clients from COVID-19. Most are instituting one-way hallways to limit congestion in the office common areas. Other efforts include washing and disinfecting the workplace daily, as well as the provision of handwashing/sanitizing stations. 

The final word  

One of the defining characteristics of small businesses and entrepreneurship is the flexibility to adapt to changing market conditions. The COVID-19 pandemic is considered to be the most economically damaging event since the Great Depression. In this ‘new normal’, working from a private office space gives small businesses and freelancers the agility they require to operate in the unpredictable and uncertain economic climate.