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How Co-working Office Spaces Are Beneficial For Startups
Matt Price is a blogger and speaker by trade and in today's post, he takes us through the pros and cons of working out of a shared office space as a startup or small business.
How Coworking Office Space is Beneficial for Startups and Small Businesses. If anyone starts a small business then the key challenge of that business is keeping cost low because the real estate cost is very high at this point. A great solution for many small business owners is Coworking space.
Coworking spaces are made for entrepreneurs and start-up business for a better option of working from home. Working in a Coworking space is not satisfying as having your nameplate on the office door but it can be a cost-effective way to get a workspace, meeting rooms, conference rooms, phone system and support services. Coworking spaces offer several key features catered to the modern professional or startup looking for more agile means of operations.
According to the Global Coworking Unconference Conference forecast by 2022, there will be 5.1 million Coworking members worldwide and 30,432 spaces. The Coworking spaces are the groundbreaking revolution in the last decade. Expert says that the market of commercial structures will witness the flood of Coworking spaces and coworkers in the near future.
What is the difference between a Coworking office and serviced office?
- The serviced office is a combination of internet, phone lines, chairs, desks, receptionist and even coffers maker, water coolers which are installed and ready to use.
- The Coworking space provides the infrastructure to run a business, but the one amazing thing about Coworking space is it has the potential to mix collaboration and innovation.
- A serviced office is more of a private space with fewer interactions with other people.
- While Coworking space is made and designed to be highly social and collaborative.
Features of a Coworking office
Nowadays, most of the companies don`t need a whole floor of the building so for them, Coworking is the best option to reduce the office costs. Always try to find a place that doesn`t cost a high price. The number of Coworking space is increasing day by day which makes the price very affordable. The average monthly cost of a space is starting at just £50 in the United Kingdom.
This is the second most important factor for any business. It is very good if you find a location that very near to your potential clients or other industrial centres. That is why you should find a Coworking space near your home and other places related to your business.
You should always think about the security and safety of your business file, data and other stuff as an entrepreneur. Find the place with high safety standards, both offline and online check about the safety cameras and security officer. If you have an IT company then verify their antivirus, anti-hacking software and other software for security use. If you find an office at the best location with no security then there is a huge problem occurs in your office.
I read one case study about Coworking space it tells that 60% to 70% of people who work in a Coworking office feel more relaxed rather than a simple office and it is because of the good atmosphere and stress-free work environment.
A great environment and atmosphere come with a good community. I read in one article that people with similar niches work together in one Coworking office. They are not competitors but they are always trying to build good relations. For example, more than 50% of coworkers are freelancers, and they are working for IT companies so, they understand each other problems and sometimes they try to solve other problems.
The worker who would like to stay in shape and fit but, they don`t have time to do exercise after working hours. That is why they want to train during working hours break so, for them try to find Coworking space with a gym.
Advantages and Disadvantages of Coworking offices
The office provides different packages on a monthly basis so, you can take a package which is comfortable for you and you can change it every month depending on your requirements. If you take a long holiday then you can hold your membership for those days so no need to pay fix amount every month like traditional offices.
In the Coworking office, you will find people who come from a different field or the same technology. If you increase your network with them then it is very beneficial for your business. The best way to increase your network is to arrange an event for your business and invite all the entrepreneurs by doing interact with people will not only bring knowledge but will also open a new path of success. So grab the benefits of a well-connected network by shifting to a Co-working office.
The Coworking office provides so many facilities for the need of any startup business or freelancers such as high-speed Wi-Fi internet, desks, whiteboards, photocopiers, tea or coffee making machine, phone lines, meeting rooms, conference rooms and other costly equipment that startup business and freelancers cloud not afford.
This facility is not available in all Coworking space but some offer this facility. You can arrange mentoring sessions by industry leaders to increase your knowledge of the industry. After doing this you can help frequent training and development program at Coworking space to enhance further about your technology.
If you are startup or freelancers than Coworking space is best and cheap for you because it is already furnished so need to make costly desks and buy chairs for your employee.
Disadvantages of Coworking office space
When you start your business with Coworking office, at first it looks very comfortable but our human eye would want to see some difference after sometimes. Some Coworking office is not allowed to renovate your office so, after some time you have to change office.
It is an important factor of any office because after all, you are in a shared office space. Sometimes your private talks being violated because there is no soundproof glass for even a private cabin.
Expansion and branding:
Once your business is established and expand it can be no longer function with Coworking space for an office. A headquarter is needed for that business and it is not possible to start a headquarter in Coworking office space.
If you are a freelancer or a remote worker or a startup then a Coworking office better option for you. But, if you are an organization and your business information are very confidential then evaluate the privacy factor before sign up for the Coworking office.
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If you enjoyed this post and have time to spare why not check out these related posts and dive deeper down the rabbit hole that is co-working spaces.