Steps To Set Up An Effective Office Space Through Equipment Financing

Mar 10, 2021

Steps To Set Up An Effective Office Space Through Equipment Financing

The effects of a dynamic workspace on productivity and overall mood of office-goers are often unspoken about. Roughly, an employee spends about 4000 hours in an office every year and spending that many hours working in a badly designed office with poor ventilation and lighting can impact not only the employee’s mental health, but will directly reflect on his/her quality of work, affecting the company’s overall output. Bad office layout planning can in fact give rise to inter-departmental conflicts, bickering, making one too many a trip to the HR, anxiety etc.

To avoid such drastic effects it is important to plan, design and set up an effective office space which can be done using sensible office layout planning and equipment financing. And no we do not mean just moving around a bunch of chairs and desks. Be it setting up a brand new office at a new location or sprucing up an existing office space, the employer establishment must take responsibility to consult and create a soothing, safe working environment for its employees. If you are already running a business or a startup or planning to start one soon, then this article will help you understand effective office aesthetics and set them up easily using equipment financing.

Brainstorm, or even better hire a designer!

Designing an office space sounds all fun and breezy, however considering several elements like planning open spaces, manipulating lighting, strategic desk placements, getting plants for office desks etc can be a time consuming and quite a task to do internally though costing less. If you have the budget for it, you can get professional consultation from an interior designer. But to start off, it is advisable to get employee’s opinions/preferences on remodelling by conducting a small survey or polls. This not only makes the remodelling process more efficient but also makes the employees feel included and essential.

Do away with unnecessary, uncomfortable furniture

“I think my back is going to give up on me from sitting all day in that super uncomfortable chair,” is a popular conversation starter during lunch breaks in almost every office. Do your employees a favour and get rid of uncomfortable chairs, desks and lounge sofas. Replace them with good quality chairs with armrests, lumbar support, push back option to stretch, height adjustability and swivel features. If you have dreary looking brown desks, source some swanky matte finish desks in bright colours to liven the space. You can avail office equipment financing or inventory financing for these purchases

Include more open office space

Incorporating several open office spaces in an office layout can be the ultimate gamechanger to setting up a swanky office. Open office spaces with sofas to lounge on with ample charging ports can be a common workplace encouraging collaborative work between departments as employees can communicate freely without walls as barriers. The ventilation and natural lighting can have a good effect on the employer's mood and increase efficiency. The trendy open office space can be inviting for young people to work in.

Invest in office decor

Decor does not necessarily have to be exquisite. Purchase decor that is creative and brings out the character of your office and its employees. It can be something as minimalistic as getting plants for office desk, hanging artwork made by employees, having a mood board with sticky notes, motivational/quirky quotes, company’s slogans, logo etc. Be careful not to go overboard with the decor. Keep it simple!

Funding these purchases

Apart from these design ideas there are other essentials like getting a photocopier, scanner and office stationery to include in the expenses of setting up an office space. Once you have your office layout planning in place you chart out a way to finance it. If you are already an established firm with enough exchequer for these expenses then great. But if you are a small company, just starting out then you will need credit assistance to fund these designs. Spending on these office design ideas though may seem unnecessary is an essential investment that renders profitable in the long run. You can avail inventory financing or office equipment financing if you are a small private firm.

An office equipment loan can be availed by firms like IT that function in an office setup. It can be used to purchase office equipment like computers, copiers, stationery, desks, chairs etc. Similar to a gold loan or asset-based loan, equipment loans too hold the equipment purchased as collateral till the loan is repaid. Due to this reason no additional equipment is required to secure the loan. Equipment financing comes usually at fixed interest rates ranging from 8% to 30% at a fixed tenure, thus ensuring consistent EMI every month. It is possible to get a term extension. However, it is up to the lender’s discretion to evaluate the value/life expectancy of the equipment purchased and offer a term extension.

Another financing option for setting up an effective office space as a small startup is to avail a gold loan, Though unconventional as it sounds, many people avail gold loans for business purposes such as remodelling small office spaces by pledging their personal gold.  It is the best cost-cutting option compared to a business loan or equipment loan as the loan value given for the gold is really high coupled with lower interest rates. Since gold is a high value asset that is held as security, lenders are at more liberty to offer money with flexible repayment options. Gold loans also have no end-use restriction which means you are free to use the amount for any personal or business expenses.

You can avail a gold loan at Rupeek, one of the best gold loan companies in India. They are RBI-certified and hence are reliable and trustworthy to pledge your gold. There are several benefits of getting a gold loan loan from Rupeek, they are:

  • Extremely low interest rates starting at just 0.49%
  • Minimal documentation requirements, only basic KYC needed
  • Hassle free online gold loan experience
  • Easy gold loan calculator to assess EMI
  • Handheld customer assistance by core team
  • Doorstep gold loans for your utmost convenience

Rupeek offers a high per gram value on your gold and ensures the maximum loan amount. You can secure this loan with a little personal gold investment to create a productive and safe working environment for your employees which will reap you benefits in the long run.

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