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Businesses downsize office space to save money
Posted
at
11:29 am
by Amy Rolph
Stacks of packing boxes are becoming a more common sight around offices -- and not necessarily because the economy is putting companies out of business.
Many small businesses are finding that in order to ride out the downtown, they need to consolidate office space.
The Associated Press released a story yesterday that looks at the trend, which is spurred mostly by cost-cutting concerns and an increase in telecommuting.
Basically, companies just don't need as much space as they once did. So, why pay for it?
The AP puts it this way: Owners say they're saving money on real estate, office furniture and other expenses by letting employees work from home or by using independent contractors who don't work on-site. And those who have cut staffers obviously don't need to provide space for them.
Real estate professionals told the AP they're seeing more businesses looking to downsize, re-thinking how much square footage they actually need if employees aren't in the office full-time.
"Business owners are getting a bit more savvy about how to get better use of their real estate dollars," said Diane Henry, senior managing broker with Red Real Estate in Manhattan. She said owners are realizing, "I'm paying for way too much space, and I need to pare it down to what we actually need."
Has your company cut down on office space? Let us know, and you might be featured in a story.
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