For Grand Bahama entrepreneurs, running small businesses from a shared office space has strong advantages for their growing ventures. Companies like ML Travel Services and iWare Ltd, an information technology company, are capitalizing on the trend as both operate from Seahorse Office Suites in the Lucaya Shopping Centre in Freeport.

"Co-working or shared office space gives small business owners the option to have a presence in a commercial space with minimal capital outlay," said Fabian Fernander, sales and marketing manager for the Lucaya Shopping Centre, a development within the Milo Butler Group of Companies real estate portfolio.

"Persons can set up new businesses or create satellite offices in the second city in a secured space at significantly lower rates and with less assumed risk."

With private, fully furnished offices for each tenant and amenities including access to a common conference space, shared receptionist and a flat monthly rental inclusive of utilities, businesses could virtually set up overnight. The 3000-square-foot space can accommodate up to 10 independent businesses.

Seahorse Office Suites also has the added advantage of being located in a shopping plaza with more than 80 percent occupancy. Anchor tenants including Commonwealth Bank, Solomon's Super Center, Marcos Pizza and others drive heavy consumer traffic to the location.

"Today's entrepreneurs are looking for innovative ways to grow their businesses and this is a great option," Fernander explained. "Shared office space allows owners to properly scale their businesses while minimizing risk and maximizing profits."

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