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7 Fast Facts About Office Space For Small Businesses in 2022

In order to compete in today’s business world, it is important for small businesses to have a physical space to work from. Office space provides entrepreneurs with the opportunity to network and collaborate with other professionals. It also allows them to conduct meetings and presentations in a professional setting. If you are looking for office space for your small business, it is important to know what the market looks like. In this article, we will discuss 7 fast facts about office space for small businesses in 2022!

The Demand For Office Space Is Expected To Grow In The Next Few Years. 

This is due to the increasing number of small businesses that are being created. In order to meet this demand, there will need to be more office space available. The average price for office space is expected to increase as well. This is because landlords will be able to charge more for their properties. 

The Average Size Of Office Space Is Expected To Increase In The Next Few Years.  

This is due to the increasing number of employees that businesses are hiring. The average size of office space was 500 square feet in 2017 and it is expected to increase to 600 square feet by 2022. 

The Average Rental Rate For Office Space Is Expected To Increase In The Next Few Years As Well.  

This is because landlords will be able to charge more for their properties. The average rental rate was $22 per square foot in 2017 and it is expected to increase to $24 by 2022. 

The Number Of Coworking Spaces Is Expected To Grow In The Next Few Years.  

This is because more people are working from home and they need a place to go to focus on their work. Coworking spaces provide a quiet environment for people to work in and they also offer networking opportunities. 

Small Businesses Will Adjust Their Office Space Situations Based On The Business Climate.

As the business climate changes, so will the office space needs of small businesses. If there is a recession, businesses may downsize their office space or move to a cheaper location. If there is an economic boom, businesses may expand their office space or move to a more expensive location. The business climate will also affect the type of office space that businesses need. For example, if there is a trend towards remote work, businesses may invest in coworking spaces or virtual offices. 

Coworking Space in Worthington

By Nyttend – Own work, Public Domain, https://commons.wikimedia.org/w/index.php?curid=12521390

Employers Are Spending More On Office Space Per Employee

As the cost of office space continues to increase, employers are spending more on office space per employee. The average amount that employers are spending on office space per employee was $600 in 2017 and it is expected to increase to $700 by 2022. This is because businesses want their employees to have a comfortable and productive work environment. 

The office space market is booming and will continue to grow in the next few years. Office space seekers can expect larger spaces with higher rental rates. Small businesses, in particular, must be aware of these changes and adjust their business models accordingly. If you’re looking for office space or are curious about how the current market will impact your company, please give Synergy Work Suites a call today – their team would be more than happy to help you out!

Companies Without Office Space Are Slowly Starting Their Real Estate Searches.

While the number of companies without office space is still relatively small, it is slowly starting to grow. These companies are known as “virtual” or “nomadic” companies. They are usually start-ups or small businesses that have not yet established themselves in the market. These companies usually operate entirely online and do not need a physical space to work from. However, as they start to grow, they may need an office space for meetings and presentations. 

Are You Looking for an Affordable, Dedicated Office Space in Worthington?

Within the heart of Worthington, where rich traditions meet modern innovation, lies Synergy Work Suites; an affordable, elegant, and functional office space for people to collaborate and create. Our vision is an affordable workspace that provides elegance, comfort, and function; we are family-owned with our own goals in mind – giving small businesses opportunities to grow. Let us take care of your ideas and plans here at Synergy Work Suites! Contact us today for your free tour!

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