With news that second cities across Europe are the new place to be, there’s a great chance for businesses to get in on the action in England’s very own second city: Birmingham. But with rising office space demand and shrinking budgets, how can small business owners and entrepreneurs also get in on the action? Enter, our virtual office in Birmingham.
A recent report from international real estate advisor Savills has proved to be music to the ears of second cities like Birmingham, Frankfurt and Dublin. In their report, Savills have related an increase in serviced office uptake to the growing successes of each of these cities, despite competition from their capitals. As growth takes place, however, demand for office space grows, pushing out smaller businesses who can’t afford the option. Thankfully, there’s a solution that allows everybody to enjoy a slice of the pie.
Savills’ report demonstrated that second cities are a force to be reckoned with, as long-term serviced office uptake looks set to continue to rise. These cities – as Birmingham’s business community will know from their own experience – are fast becoming regional hotspots, around which increased opportunities are being created. For Birmingham, this includes stronger international business relations, a thriving tech scene, and greater levels of investment than ever before.
Although this success is great for the city and local businesses, it also casts difficulties over acquiring office space. As the report showed, demand for office space has grown, forcing costs to rise as well. The effect of this supply and demand tug-of-war is leaving smaller businesses immediately outpriced. The danger with this scenario is that entrepreneurs from surrounding areas are being left out of Birmingham’s big city success, undermining their growth and limiting what the local region can achieve.
Because businesses shouldn’t be asked to sacrifice financial security for a piece of the action, and the opportunities being presented at a local and regional level should be accessible to all, we decided to ask how we can resolve this issue, and make success inclusive for all.
BEST OF BOTH WORLDS
The answer, we found, lies in being in the city…without actually being in the city.
Yes, the trend for renting a virtual office in Birmingham could be exactly what smaller businesses need as second city fever hits. By opting for a virtual office instead of competing to secure actual office space, small businesses can use a physical Birmingham address and benefit from additional services, such as post and call forwarding, all without setting foot in the city.
The benefits are tremendous: not only is there an opportunity to be involved in the Birmingham business community and have secretarial duties taken care of, but there are also huge cost savings on the table in terms of a virtual office service versus a real office space.
For owners who would usually commute in from surrounding midlands areas, a virtual office in Birmingham comes with an extra financial benefit: travel expenses can be slashed immediately, with remote working making it possible to work from anywhere else.
These savings combined make for a healthy lump sum which can be reinvested by business owners into other areas of the organisation or other projects, stimulating growth and keeping the city on track to success.
SECOND CITY, FIRST PLACE
If there’s one thing to take away from the Savills report, it’s that Birmingham is on track to compete with the best second cities around the world. With virtual office space also in the mix, there’s an opportunity for faster growth, and we hope that the service will allow individuals and businesses to take part in what is a very exciting time for Birmingham. After all, it may be the second city, but in our hearts, Birmingham will always be first place.
iHub’s virtual office in Birmingham allows business owners to rent a physical address and take care of secretarial tasks for a small monthly fee. What’s more, we have plenty of additional resources on hand to help you make your business a success – and make sure you’re getting the most out of Birmingham’s success.