Coworking continues to gain in popularity, which means you’ve probably heard the term “coworking” at some point in the last few years. But do you really know what coworking’s all about? And why has coworking become so successful?
We’ll cover those questions and more in this article!
What is Coworking?
In general, coworking is sharing office resources and costs. This may be in a shared space such as a coworking space in a business centre, or a business may offer a coworking space within its organisation.
In the first scenario, an individual (such as a freelancer) or even a large corporation may rent coworking spaces. Many individuals come together to work in one space; however, they may not be working for the same company. This means each person is working on their own projects, but they’re sharing the office space and resources with others.
The second example may come from a business that’s created separate work zones within its office space. These can include a coworking space, breakout spaces, quiet zones, and more. Employees are encouraged to work in different areas throughout their workday, rather than spending long hours behind a desk.
In this article, we will focus on the first example of a business centre that provides coworking spaces for clients.
What Makes Coworking Spaces So Popular?
There’s no question that coworking spaces are becoming increasingly popular. But why? Coworking spaces offer a wide range of advantages for those who use them, including:
1). Provide a Productive Work Environment
Coworking spaces provide a productive work environment, especially for those who work remotely. However, not everyone can set up a dedicated office at home or work in a noisy café. For these people, the best alternative can be the coworking space.
These spaces have been specially designed to be a place where it’s possible to get work done. Everything in the office layout and décor comes together to create an inspiring work environment. As a result, the spaces make it easier to focus on work and stay productive.
2). Offer a Thriving Business Community
Another huge advantage of coworking spaces is that they create a thriving business community. It’s no longer necessary to work alone in isolation. Instead, it’s possible to work with other like-minded business professionals in an environment that’s geared toward community and being productive.
Working with other business professionals means it’s possible to reach out to others. Networking is easier and faster. It’s even possible to find new clients in a thriving business community like a coworking space.
3). Coworking Spaces are Cost-Effective
Coworking spaces are also much cheaper than renting a traditional office in a commercial building. What’s more, everything needed for work is provided. There’s no need to worry about the décor, for instance. Each coworking space consists of a desk and chair, which includes all the connectivity needed to work.
In addition, these spaces offer access to business equipment such as printers, a network & robust Internet access, bathrooms, breakout spaces, fully stocked kitchens, and more! All of this is typically included in a flexible contract that comes with an all-inclusive monthly fee.
The all-inclusive monthly fee covers access to all facilities and amenities. There’s also no need to remember to pay every single bill each month, as there is in a traditional office. Everything is covered in the all-inclusive monthly fee. It’s that simple.
4). Flexibility
Traditional office spaces typically come with a long-term contract. That means no matter if a business needs more space or needs to scale down, it’s challenging to do so with a traditional office contract. To do so means breaking the contract, which can result in exorbitant fees.
On the other hand, a coworking space provides all the flexibility a business needs. When a business needs more space, it’s usually possible to rent more coworking spaces. If things turn around and the company needs to scale down, this can also be handled by a coworking space. There’s no long-term contract.
What’s more, coworking space providers usually also offer a wide range of other types of office spaces. These may include serviced offices and more. It’s easy to find the space when business is growing.
5). Work/Life Balance
Finding a balance between work and personal life can be challenging for those working remotely, whether from home or other spots. However, coworking spaces make this much more manageable.
Coworking spaces and other types of offices make it easier to have a more structured work routine. It’s easier to have the discipline needed to separate work and personal life.
How to Choose a Coworking Space
If you’d like to consider a coworking space for your business, then check out these tips for choosing the right space for you and your business.
1). Location: choose a coworking space that’s within a short commute from your home. If you use public transport, then look for coworking spaces that offer easy access. For those who drive, ensure the facility provides plenty of parking spaces or that there’s enough parking nearby. Also, look for a coworking office that’s situated in an area with plenty of amenities, such as restaurants, shops, and more.
2). Budget: consider your budget before looking for a coworking space. Remember to stay within your budget when choosing the right place for you and your business.
3). Short-term/long-term contract: consider the type of contract your business needs. If you plan on staying in one location for an extended period, then a long-term contract is the best choice. On the other hand, a flexible contract may be the best choice for businesses that know they’ll expand in the coming months. The good news is that most coworking facilities offer you an option in the first place! Just choose the best type of contract for your business needs.
4). Amenities: check to see if a coworking space offers the amenities needed to run your business. Most facilities include access to everything you need. However, it’s always best to check this out in advance. Typical amenities include WiFi, access to office equipment (printers and more), free coffee, office furniture (in this case, a seat at a desk), and more.
5). Community: investigate the type of community that the coworking space provides. Each coworking space is unique and attracts a certain type of individuals and businesses. Be sure to find a coworking space community that fits your business. For instance, if you’re a freelancer, look for a community of other freelancers, entrepreneurs, and startups.
Summing It Up
Coworking spaces continue to grow in popularity, and for a good reason. These spaces offer a broad range of services, which are covered by an all-inclusive fee and a flexible contract. They also create a lively community of business professionals, where it’s possible to make new connections, seek assistance with business questions, and more.
What’s more, coworking spaces provide an excellent work environment where you can stay focused and get more done. So, why not consider a coworking space for your business?
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