By Matthew Zito
For companies newly looking to set up a presence in China or expand their existing China operations, the prospect of costs incurred when entering an unknown market can be daunting, appearing as a sort of “make or break” venture. One lesser-known option available to foreign investors in this position is the use of serviced offices (also known as “executive suites”).
Especially prevalent in fast-paced Asian markets like China, Hong Kong and Singapore, serviced offices are rentable office spaces that come fully furnished and equipped with technology and service amenities. For example, a premium serviced office in Shanghai might provide tenants with secretarial services, state-of-the-art IT infrastructure and conference space.
The benefits of such an arrangement for a China growth strategy are manifold, especially for start-up operations. Most significant among these are the cost savings achievable through the use of serviced offices rather than a traditionally leased space. Continue reading…