Coworking spaces where remote workers, entrepreneurs, freelancers, and independent professionals can work in a communal space are becoming more popular. It is easy to see why. Recent research indicates that those that use them are more productive than employees working in a normal office. But there is far more to it than a productivity boost.
Coworking spaces are a cheaper, more flexible alternative to fixed office spaces, where workers have networking opportunities and a comfortable, structured working environment.
It is a low-cost alternative to renting office space
Leasing office space requires lengthy leases, costly down payments, and a hefty deposit. Coworking spaces are ideal for startups that may not have the resources necessary to lease office space. You can rent coworking spaces monthly, weekly, or hourly, and don’t have to sign a long-term lease. They provide the ultimate flexibility for small start-up companies that do not want to pay high fees up front.
Coworking spaces come furnished with amenities like internet, printer access, the use of a conference or meeting room, and free coffee. You have no responsibilities of managing properties, arranging building cleaning, and preparing the relevant annual tax documents. Just pay your membership, and you and your company are ready to start making use of the facilities on offer.
They provide networking opportunities
Working alone, or only with other members of the same company in a single office, means workers only come into contact with their colleagues on a daily basis. In a coworking space, the possibilities for networking are endless.
It surrounds workers with other professionals in a variety of different industry sectors. Many of those that use coworking spaces are startups and entrepreneurs, particularly in the technology sector. There are plenty of opportunities to build relationships with other companies and freelancers in your field that can help expand your business.
It provides structure to workers and harnesses creativity
We know working in coworking spaces makes workers more productive. This is because unlike working from home, which can be distracting and offers little in the way of structure, coworking spaces offer structure and minimal distractions.
Working away from home or the office can also boost creativity. The Harvard Business review described how the innovation team at Ricoh, used coworking spaces to spark new product ideas. They worked out of a coworking space for several months before designing a new product centered around providing a paperless meeting platform.
People who are granted the freedom and autonomy to work in a well-designed coworking environment have the opportunity to produce authentic and creative work. This is especially useful for startups in a growth phase, which need a low-cost working solution where they can get the best work possible out of their creative and energetic workforce.
As a networking opportunity, coworking spaces also offer what is essentially free marketing. Basic human interaction will help get your company name out there among other entrepreneurs and independent professionals. It is no surprise, so many companies are moving away from traditional office environments and embracing a coworking space.
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