Executive Suites

Definition:

Shared offices with services provided by a management firm

When you’re trying to determine just what type of location you need for your business, one office option to consider is an executive suite, where the landlord provides access to a private mailbox, receptionist and secretarial services, faxing, photocopying, conference rooms and other support services as part of the package. Executive suites help you project the image of a professional operation at a more affordable cost and can be found in most commercial office areas. Some executive suites even rent their facilities by the hour to home-based businesses or out-of-towners who need temporary office space.

Related Content

Product Development

The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product

Exit Interview

The formal conversation that takes place between an employee and an HR or other manager to determine the reason(s) the employee is leaving

Primary Market Research

Iinformation that comes directly from the source--that is, potential customers. You can compile this information yourself or hire someone else to gather it for you via surveys, focus groups and other methods.

Credit Policy

Guidelines that spell out how to decide which customers are sold on open account, the exact payment terms, the limits set on outstanding balances and how to deal with delinquent accounts

Mergers

The combination of one or more corporations, LLCs, or other business entities into a single business entity; the joining of two or more companies to achieve greater efficiencies of scale and productivity

Subchapter S Corporation

A special form of corporation that allows the protection of limited liability but direct flow-through of profits and losses