Whether you are searching for an office space for lease in Makati or in any other next-wave location in the Philippines, it is very important to consider your business goals before making a decision. A lot of enterprises are still reeling from the effects of the 2008 economic recession, so finding ways to cut corners and make wise investments is imperative. If you are putting up a company soon, this is where the question of whether to buy or lease an office space comes in. In these trying times, what is the smarter decision? Here are a couple of deciding factors to examine:
Evaluate the life span of your business
What type of business are you running? Is it an industry that you can see getting stronger in the next 10 years or so? Is the space you are looking to purchase adequate in the event that you decide to expand your operations and increase manpower at some point? If you are uncertain about the direction that your business is headed in, then it may be wiser to lease office space.
Figure out how much cash you have on hand
Do you have enough cash to buy office space as opposed to leasing it? It is important to remember that applying for a home mortgage is different from applying for bank financing for an office space. It is more difficult to succeed in the latter if you do not have sufficient credit history or if your business has not been around for that long. Assess which option is more practical for your business based on how much cash you have at the moment.