Three quarters of new business feel they are likely to move their office location within their first six months of trading, a survey has revealed.
Research by Yac has found that because of their likelihood to relocate, most start-ups now prefer a ‘virtual working’ environment that does not tie them to one address.
What’s more, the study found that 85% of new entrepreneurs lack the funds to set up a permanent office and instead have turned to technology to launch their business.
The majority of virtual offices are located in the service sectors, who said they chose the option because it reduces their overheads and allows them to offer staff a more varied and flexible working environment.
“The nature of being a start-up business, and the long hours and investment this often requires, can be more conducive to a flexible way of working,” said Ian Osborne, chief executive of Yac.
“It’s clear that employees also value the ability to work from outside of the traditional office space, and recent research in the market has shown this to be a contributing factor in staff loyalty and motivation.”
Osborne added that the ability to work virtually also gives start-ups the opportunity to ‘scale up’ their business according to need, such as adding part-time staff or home workers based in multiple locations.
