New entrepreneurs offered cheaper alternative to renting an office
Startups that only meet clients occasionally don't necessarily need to commit to permanent office rental costs — co-working spaces offer a solution. Latvia's investment agency LIAA says such spaces are also available at its regional branches nationwide.
Starting a business often brings up financial questions that new entrepreneurs never had to consider while working for someone else. One such question is whether, and when, it makes sense to rent an office.
An example is provided by Jānis Lanka, owner of SIA "JL Eko," who spent nearly 20 years working at a company providing consulting and services in the environmental and geological sector, including helping businesses obtain environmental permits to launch production. This year he decided to leave his job, and in June he founded his own company operating in the same field.
Co-working spaces as an alternative
Ieva Jāgere, director of the Investment and Development Agency of Latvia (LIAA), explains that if meetings with clients happen only occasionally, a new entrepreneur doesn't need to immediately take on the costs of permanently renting an office. In the early stages, a more cost-effective option can be using co-working spaces, which allow both working and receiving clients and business partners in a professional setting.
Such co-working spaces are also offered at LIAA branches across Latvia. To use them, one must register at Liaa.business.gov.lv, choose the most suitable branch, and book the desired space at least one business day in advance.
