In Recession, Executive Suites and Virtual Offices on the Rise

The first business center in Bahrain joined the NETWORK this summer. There is unlimited potential and opportunity for the OBC industry in today's market.

As most companies around the world experience downsizing, layoffs, and costcutting, the Office Business Center industry has experienced steady growth. Existing OBC companies are expanding, taking advantage of new opportunities presented by the recession. Property burdens are beingturned into profitable assets as serviced office management contracts are on the rise.

Client companies in-the-know are looking for different opportunities to spend less while at the same time retaining staff and even recruiting new employees. They are saving money by cutting out overhead costs and switching to virtual office solutions or moving out of expensive, traditional lease offices and into more cost effective serviced offices and executive suites. With this highly practical option, companies are not forced to give up valuable talent and skilled labor in order to save money, and in fact increase productivity by using managed services and business amenities typically provided by both virtual offices and executive suites.

Surplus space on properties that are otherwise losing money without rent income from tenants are being transformed into executive suites, allowing both property owners and business centers to increase their ROI in a bleak economy. There is unlimited potential and opportunity for the OBC industry in today's market, as office space providers across the globe can prove with increased occupancies and expansions. ALLIANCE has supported Member growth everywhere from locations such as Beverly Hills, CA and Houston, TX in the United States to Gatwick in the United Kingdom, and the first business center in Bahrain joined the NETWORK this summer.