Coworking is a growing trend in acquiring office space where employees from different companies use the same office space.
8 Reasons Coworking Spaces Are Ideal For Startups
Shared working spaces can provide you a full suite of office essentials, such as private meeting rooms, coffee areas, hot desks, and kitchens, among others. This shared work environment helps your workers to meet, network, collaborate on projects, and share ideas.
Apart from startups loving to use coworking spaces, you can use a shared workspace if you’re a freelancer or a remote worker. Since the demand for space can be need-based, then having a pay-as-you-use type of structure may be the best bet for your organization.
When you’re looking for a coworking space for your startup, it’s good to look for a serviced office space that will take you the least time to organize. A come-in-and-use type of space can save you time and money.
This article gives you some critical reasons why having a coworking space for your startup might be the best option for you.
1. It’s Flexible
In most cases, coworking spaces aren’t meant to be a forever arrangement. It may take a few months or several years as you give your startup business time to grow to the place where you have financial muscles to rent an independent space.
This means that, at the time of leaving the shared office, it will be a smooth transition.
All you may need to do is to give your landlord maybe a month’s notice, and you’re ready to leave.
There is no requirement to park your furniture for transport to the new location or have to sell it.
You also don’t need to cancel subscribed services, such as Internet, phone, or have to look for a replacement for your lease.
2. Enjoys A Big Family
Coworking spaces invest in the welfare and the success of their occupants. The focus is to build and develop a community and grow together.
Coworking spaces endeavor to make a home for businesses and the people occupying them.
Apart from a conducive environment for work, you can enjoy organized initiatives and events for leisure for your workers.
In coworking spaces, it’s easy to establish good connections with other industries occupying the same space, which could result in business opportunities in the future.
A coworking setup avails a chance to have mentor relationships and collaboration because you’re surrounded by people of different academic backgrounds and gifts, and you can benefit from their knowledge as they benefit from yours as well.
It’s economically viable to have a shared working space as opposed to renting an entire office floor or block for your startup company.
The overhead costs of the space are divided by all parties renting the space. The good thing with shared offices is that the cost is all included in one price.
Included in the monthly rental fee, maybe high-speed internet access, heating and lighting systems, desks, and furniture, while other expenses such as taxes and property fees are shared across.
Some added advantages might be free coffee. If you were to set up all these by yourself and choose the supplier, the overhead costs would shoot up way beyond the ability of your business to manage.
This means that coworking spaces may be the only option to give you the best deal.
4. There Is an Existing Office Culture
It’s not a surprise to hear employers talk about great workplace culture. Luckily, you can benefit from the existing community in a coworking environment which already has a workplace culture.
What you need to do is identify the right culture you need for your business.
Your company also enjoys a well-rounded range of diverse influential people around you.
In case you’re doing freelance work, working among other freelancers who work with different patterns can help you learn the values of work-life balance.
5. You Can Have a Private Office
After some time, your business may grow its revenues to a good amount which can help you rent a private room still in the coworking space.
It’s not always the case that a shared office should be one large room, but there could be private rooms with shared utilities, such as Internet, kitchen, and washrooms.
Even though it’s a private room, the cost is still lower compared to the normal office setups, and you’re able to have a fully equipped space, isolated and with access to other shared services.
A coworking environment can help you experience the intangible feeling of motivation. Working from your home may be tempting to be undisciplined and demotivated.
If you’re like any other business startup founder or freelancer, you may find it challenging to keep yourself from the distractions of working from home.
Thus, a certain level of culture and structure to reflect an office setup may be very indispensable, which you can get in a coworking space.
Therefore, starting to work from a coworking area can help you establish a routine that is similar to an office environment and help you be focused on your work.
Moreover, you may find yourself working among other motivated, successful, and self-driven individuals who can be resourceful to you on how you can manage yourself for maximum productivity.
Generally, working under such situations may make you more productive, unlike working at home.
7. Avenue For Social Interaction
Besides networking and motivation that you can get while in a coworking environment, you can also be able to deal with loneliness due to the lack of people to interact with, which is a common aspect of freelancers.
Having many hours alone may be depressing, especially if you’re an outgoing person. Thus, the only way to counter loneliness would be relocating to a coworking space.
8. Creates A Professional Office Space
Most startups are begun at home. However, you may find that this environment isn’t suitable any longer.
Some clients may be uncomfortable having business meetings at restaurants or coffee shops.
Therefore, renting space in a coworking space creates a professional environment where you can hold your product or services business meetings with your clients.
Starting a business might be the most stressful thing you may encounter as a business person. In the early years of your startup, you need to save as much money as possible so that you can allow time for your business to grow.
One way to save on costs is through renting a coworking space which helps you to network, share business running costs, keeps you motivated, and offers flexibility when you want to relocate, among others.