When you sit back and imagine a coworking space, you would probably have a scenario in your mind: a coffee machine with every type available, a small group of co-workers chatting nearby, water coolers and a large team of workers looking intently into their laptops.
There is a lot to coworking environments than just a funky coffee machine though. Entrepreneurs and startups could really take advantage of the office environment it provides them. To begin with, renting coworking office space is not that expensive.
The Positive Economics of Shared Office Spaces
Sure, it is cheaper than sitting in a bistro, coffee shop or restaurant and using the free Wi-Fi, but you won’t have the noise from the general public to contend with. Most of the spaces that provide for co-workers, especially the ones located in startup hubs such as SOMAcentral in San Francisco, are often open around the clock. Many businesses work beyond the 9-to-5 scheme of things, so you can turn up whenever it suits you best. Visit this site and check out great ideas for business which can fulfill your expectation!
Bear in mind also, hiring a long-term lease on some office space is going to cost considerably more than working in a coworking space. This is something that startups especially should take notice of. Moreover, small and new businesses can grow at alarming rates, so it is worth considering the option of a coworking environment.
Think about it: if your new business has just hired a wing on an office block and your company expands to double the staffing levels, where are you going to put all these extra employees? In a coworking space, any increase in staffing levels can be sorted by contacting the community or building administrator and renting more desk space.
It may involve moving the entire department down the corridors, but expansion is just one of the challenges startups will encounter during the early days of the business growing. Entrepreneurs and startups are in good company when it comes to shared office spaces. Why? Simply because these coworking environments see them all the time.
Startups and the Shared Office Environment: Already Business Companions
Startups can form some 60 percent of the office space occupied in a shared open plan setting. It will offer businesses many services [within the cost of the rental] that could benefit young entrepreneurs and fresh businesses alike.
There is a wide variety of services like special lecture nights that can help with accountancy, website design and development, investing opportunities and how to get involved in social events with the other members of the shared office experience.
Moreover, you and the business will be surrounded by positive energy, a sound working environment and a forward-thinking atmosphere. Startups are notorious for being challenging in the early days and many will fall by the wayside before they can even get going.
By working in a shared open plan office setting, small and new companies can surround themselves with others who are hardworking, dedicated, and smart. It is exactly the kind of environment needed when you are trying to build a business.
Often, there will be late evening work when your friends and family will be out at the pub or bistro and times will feel very low. But networking with fellow co-workers – some of whom will be in the same boat as you – will give you a feeling of support.
Entrepreneurs and startups will often find that they approach the team and ask if anyone has experience in something. Things like video production, programming, accountancy or imports. More often than not, no staff member can help.
But in a shared office environment, it is likely you can find a huge range of specialists, sitting there right on your doorstep.
According to Webscout.com, enquirers for co-working space are still on the rise. Singapore has seen a steady increase since 2012, when the Singapore government issued grants to encourage individuals and businesses to open home offices and shared work-space. Whilst the initiative wasn’t necessarily set up to promote co-working space, it certainly helped create a sense of flexibility and collaboration in the office space arena.
Luxembourg, although relatively small in size, has seen the biggest growth in the co-working sector, with an increase of 8.5 spaces per capita. This comes as no surprise, as the rich economy and favorable tax laws create the perfect breeding ground for aspiring entrepreneurs.
The co-working market has received some bad press of late, what started as a cost effective way to have access to a cool, funky work space, has in some locations become a prestigious, yet cliquey over priced networking event.
With collaborative work spaces popping up on every corner of every major city worldwide, some are bound to flourish as the demand remains strong.
Those that focus more on their interior decor and the Instagram-ability of their space, rather than function-ability may not garner the same successes.