Coworking spaces were built for small businesses in many ways. Affordable and flexibility amenities are invaluable to productivity in the startup stage.
Freelancers and remote workers see coworking spaces as a way to fight isolation. There are many types of businesses that are touched by coworking spaces. Private office spaces are also offered by coworking companies, giving the organization the benefits of personal space without any long-term contracts.
Given below are seven ways describing how small businesses can benefit from working in a coworking space.
The benefits that small businesses enjoy in coworking spaces are:
- Instant Scalability.
- Get a Better Value in a Coworking Space
- Boost Small Business Productivity
- Improve Work-Life Balance
- Access Beautiful, Inspiring Spaces
- More Networking Opportunities
- On-site, On-demand Talent
- Virtually Distraction-Free
When small business owners seek office space, it’s incredibly rare for them to find something affordable that is also short-term. Most commercial leases are in the three to five-year range. and that’s a commitment that many startups aren’t in a position to make.
Coworking spaces, on the other hand, offer businesses the ability to scale up (or down) as needed, without breaking expensive long-term leases. While the square foot price of most flexible office space isn’t cheap, their ability to work with you on a short-term, month-to-month basis (plus their menu of additional services on offer) makes them and other coworking spaces an attractive alternative to traditional office spaces and their burdensome contracts.
Get a Better Value in a Coworking Space
The cost of many shared office space memberships includes access to many little things such as beer, coffee, and office supplies. It also includes costlier items such as printers, online platforms, phone services, and other such utilities.
Hiring workers that operate out of a coworking space is much easier if you want to expand your operations to other cities and markets. It is also much less expensive than opening a new office.
Boost Small Business Productivity while working in Co-working space
The most exciting fact about working in a coworking space is that it is going to increase your productivity to unprecedented levels.
People working at shared office spaces report productivity levels that approach an average of 6 on a 7-point scale. Research by HBR shows that when people work from a coworking space, they feel more in control of their job and see their work a more meaningful, besides feeling like apart of a larger community.
The increase in productivity changes from individual to individual, but it has been found that physical proximity to those you work with makes collaborations much more impactful, which means that bringing your team together in the same shared office space can lead to additional productivity.
Improve Work-Life Balance with Co-working
In today’s corporate world, work-life balance is supremely important to workers.
This work-life balance often gets out of hand when you work where you live. In coworking spaces, solo-entrepreneurs and teams are able to create a separation between work life and home.
Access Beautiful, Inspiring Spaces
Unique spaces may be particularly beneficial to small businesses, which seek to differentiate themselves from the competition. An inspiring coworking space3 can both impress customers and attract new talent.
More Networking Opportunities
Whether working from home or working from your private office space one drawback isolation. Filled with other small businesses and entrepreneurs, a coworking space gives you more access to new ideas.
Coworking spaces draw businesses across a variety of industries and niches together in one room or floor. And, many of those businesses are peers and contributors to the local community and economy.
You’ll surely meet new people, exchange ideas, and possibly collaborate on projects together.
On-site, On-demand Talent with Co-working
It’s becoming increasingly common for a small business to many small businesses to use freelancers to write copy, design logos, file their taxes, and more. In local coworking spaces, you’ll be able to more quickly source and employ your fellow coworkers. It may be as simple as looking over to the next desk to find someone who can help.
Small businesses can gain a lot from operating out of a coworking space. Their increased productivity, healthiness, and efficiency, as a result, may help them to eventually rent offices of their own. That is if they even want to do that.
At some point, coworking may become the norm for any small business that needs office space. But for right now, we’re at the beginning of a long road.
Sometimes, working from home can be distracting. When you have an adorable child who is vying for your attention or a spouse who needs your help with a few projects, suddenly your productive day has gone south. There are also televisions, a refrigerator, and other things that may pull you away from your work.
A coworking space offers a reprieve from these distractions. Everyone in the space is working and respects that you are, too. You can get in the zone and accomplish a lot more.
How to Choose a coworking space for a small business
While there are obvious things to think about when choosing your co-working space, like location and budget, there are other considerations. One of the most important is the type of security the co-working space has to ensure there are clear policies about how personal belongings are protected from theft.
It is worth taking the time to gather other people’s opinions on how they feel a co-working space worked for them in terms of both good and bad experiences. While some things that bother your peers may not matter to you, it’s good to hear all perspectives before making a decision.
It is a good idea to check the co-working spaces out at different times of the day and evening, as well as various days throughout the week. It’s important that you feel the vibe of a place. This is essentially the culture or environment that is defined by the co-working space owners, the people who use it, and the layout and use of space. You can research and ask many questions, but experiencing it for yourself is the only way to know if a co-working space is right for you.
Co-working spaces aren’t meant to be used in the long term. The plan is for you to grow that startup into a full-fledged company that does require physical office space to continue building that empire. However, while still creating, a co-working space has provided numerous value-added benefits that are worth the low expense.