Benefits of Coworking Spaces for Startups
Sure you’re avoiding traffic and office politics, and won’t have to agonise over what you’ll be wearing to work, but all of these so-called benefits grow stale.
Coworking has been riding a wave of popularity for some time now, especially among freelancers who’ve recently escaped corporate life and new startups looking to tap into an industry.
But what’s so great about shared working atmospheres anyway? How can this type of office style transform how you work, help you grow professionally and achieve business goals in an increasingly competitive marketplace? Read on to find out the benefits of coworking spaces!
Overall flexibility
You’ll be wanting to increase your headcount once your start-up blossoms, which makes committing to a three-year conventional lease risky, inconvenient, and expensive. How will you house new staff members when the demand for your product grows?
One of the benefits of coworking spaces is to remove these headaches by providing businesses with the option to scale up to larger spaces as they start expanding.
As a freelancer, you might not want to rent an office or desk in a room regularly. You may only require a few days a month in a professional work digs, making traditional leasing unsuitable for your work style.
Fortunately, coworking memberships provide highly flexible rental terms, whether you need occasional desk space, a quiet room every so often, or to hire out meeting rooms on an ad-hoc basis.
Organic networking
Small startups rely on networking to build their customer base, and what better way to improve your visibility than in a communal setting, surrounded by other businesses and professionals?
Another benefit of coworking spaces is that they are designed to facilitate natural interaction. And whether that’s a friendly conversation with your desk neighbour or forging professional relationships, communication in these working environments can only be beneficial.
Coworking spaces are designed to facilitate natural interaction.
Potential growth
It doesn’t matter how unique or innovative your business is, you may struggle to gain client support from your garage or a noisy coffee shop.
Having a space to call yours gives your business an air of professionalism that you wouldn’t have by working from your home office.
Hosting client catch-ups in executive boardrooms, and having the opportunity to add a corporate working address to your business cards will have customers viewing your business differently.
Furthermore, several flex-space operators hold regular events and workshops to help you learn new and improved methods to expand your burgeoning empire.
Hosting client catch-ups in executive boardrooms, and having the opportunity to add a corporate working address to your business cards will have customers viewing your business differently.
Improved productivity
In the quiet comfort of your home, you might think you’ll become your most productive work self. However, for many remote workers, a different scenario usually plays out.
A home office can be alienating, demoralising and lacks structure. Even if you prefer your company, having no one to chat to or hash out new ideas can affect morale and dampen your productivity.
As a freelancer, your earning potential revolves entirely around your output, and if you lack motivation or focus, your bottom line ultimately suffers.
Coworking setups are the ideal solutions between working in a corporate space or home office.
In a collaborative office environment, you gain a community and a structured office life, factors that should optimise your workflow.
Morale
You might love not having to work with difficult colleagues or reporting to a boss who undervalues you but working from home alone removes all social benefits you’ve grown accustomed to and need.
We require our daily dose of contact to vent frustrations, express ourselves, or find solutions to complex work issues by working with other people. Having a cat as your deskmate, or partner who doesn’t fully grasp what you do can make you feel disconnected and unhappy.
In a coworking space, you’re free to interact or not interact with anyone. As these office environments consist of professionals from different industries, office rivalry and office politics are virtually non-existent, because one-upmanship between colleagues doesn’t happen.
Cost-effective
Renting out traditional space isn't feasible for the average SME. Running a company while maintaining an office space is stressful for companies that haven't started making a profit yet.
When we talk about benefits of coworking space, it allows small but growing companies to focus their energies on growth and making more money.
Memberships usually include a host of amenities and facilities, such as electricity, WIFI, access to boardrooms, and building outgoings that are run and serviced by onsite staff. One simple and affordable bill incorporates all monthly expenditures for your convenience.
Freelancers might struggle to see sense in coworking spaces when they can freely utilise home offices.
Several things are missing in a home office that you can find in a coworking space such as the necessary tools and equipment to work more efficiently and a support system that fuels one's go-getter entrepreneurial spirit.
You're also paying to be more productive since there are no home responsibilities to distract you.
Mentorship
Starting a new business is like being a small fish in a massive pond. The risk is enormous, and the competition overwhelming.
If you’re in the early stages of launching a business, being exposed to experienced companies from similar sectors can be hugely beneficial.
In a coworking setting where interaction is strongly encouraged, take the opportunity to learn from seasoned conglomerates and industry leaders and apply this knowledge to your own business.
Although remote working suits some people, it’s not a working environment for all freelancers in startups, especially those newly starting out. Most find that the few benefits that home working environments provide greatly outweigh its long list of restrictions and pitfalls.
Coworking spaces are hugely dynamic, flexible, cost-effective, interactive, and overall, present working conditions favourable for developing your career or expanding your company.
If you’re in the early stages of launching a business, being exposed to experienced companies from similar sectors can be hugely beneficial.
Sourcing talent and finding work
Fortunately, there are many benefits of coworking spaces that give you access to freelancers from all industries, which may fast-track the hiring process by removing the middleman from the equation. In fact, the right professional might be sitting next to you.
On the flipside, freelancers wanting to maximise their earning potential might land themselves promising job opportunities in a coworking space.
If you are looking for a coworking space, Office Hub helps you find your dream office. Our website has a wide range of offices in major cities in the UK such as London, Manchester, and Birmingham, enabling individuals and businesses to work more effectively and independently. Explore what Office Hub has to offer if you're looking for a coworking space in the United Kingdom!
