This relatively new workspace trend is taking over and spreading like wildfire among popular businesses everywhere. Coworking spaces are quickly becoming the next, best tool for creating successful and enjoyable office environments.

Now, you may be asking… What are coworking spaces? What are the advantages? And should I be implementing this life-changing trend for my own business?

Well, fear not! All the answers you seek are right here. We’ve narrowed down all the fantastic benefits into this list, to show you why coworking is your next best move.

Read on to discover the 11 advantages of coworking spaces you can’t ignore.

 

What are coworking spaces?

To put it simply, coworking spaces are buildings, offices, etc. that are rented out to multiple companies, start-ups and entrepreneurs, not needing an entire infrastructure of space for work.

You get the idea of a corporate office with the relaxed feel of working from home. The main difference being, you are sharing your space, among others.

 

Coworking Space Requirements

Much like your standard office environment, you have the same resources:

  • Power
  • Wi-Fi
  • Printers
  • Desks
  • Private rooms, etc.
  • Kitchen – Fridge, coffee, snacks

 

As not all coworking spaces are the same, these are just the basics that you will find most often. On occasion, you will find them packed with amazing extras. In some, you can find:

  • Lockers/ Storage
  • Game rooms – Ping pong tables, air hockey. You name it, some of them have got it.
  • Mailboxes
  • Carparks

No matter your need, there is a space to suit everyone.

So, what are the benefits of coworking?

 

1. Cost-Effectiveness

More sharing, less spending.

The costs involved in running a business can add up quickly. Basic internet, rent and office amenities can have you spending well over your desired budget.

These are all taken care of for you. You don’t have to worry about the price of a printer that just broke or the Starbucks style coffee machine everyone is requesting.

 

2. Flexibility

In need of a trip to the Bahamas for a couple of months? Book those flights! No long-lease contracts mean you don’t have to worry about paying for a space you aren’t utilizing. If you work from home, having that space readily available is a great way to escape for a change of scenery that isn’t your typical café.

You also have the option to scale down and expand as needed. No guessing and no overspending involved, you can grow as you go.

 

3. Central Location

Spending a large portion of your time travelling to and from sites is not only time consuming, but costly.

A significant advantage of a coworking space in a beneficial location can save you time, money and be an excellent home-base for those days that don’t require movement.

This gives you the option of a stable office, without the hefty rental price.

 

4. Networking Opportunities

Graphic about networking in coworking spaces

Working in an environment surrounded by different companies leads to endless opportunities. From new friendships to exciting business ventures with other companies, you may not have thought to work with prior. The door is open.

These days it’s all about who you know, and this creates the perfect environment to build great rapport with businesses you may wish to work with in the future.

5. Community

Coworking spaces change the independent office vibe to feel more like a community. You are constantly bouncing ideas off of each other and strengthening team relationships.

Being in a more relaxed workspace allows people to feel free to be who they are and not put on that “work persona” that is easily adapted in the workplace.

A huge benefit of a coworking space is the opportunity to create like-minded friendships at work that can go beyond the office.

 

6. Motivation

Coworking spaces bring with them a range of hard-working, motivated individuals, ultimately working towards the same goal – success.

Whether you need a pep talk from a co-worker or you’re of a competitive nature, motivation is critical, and you can find it in every room.

 

7. Productivity

Motivation leads to being more productive. It’s easy to go from a buzzing morning to a slow afternoon, leaving you tired.

A quick solution? Move to that lounge surrounded by lush faux plants and pretty art just down the hall, and sit back for a couple of minutes to relax.

And in no time you’ll be back on the work-horse.

 

8. Creativity

These spaces allow maximum creativity that you don’t pay the price for. Spend more of your money investing in your product or service, and less on the space it’s created in.

 

9. Start-up Success

While there are definite advantages for all types of business, there are particularly great advantages of coworking spaces for start-ups.

Being a start-up founder, you aren’t just looking to sell; you’re looking to grow.

Having the flexibility to chop and change your space is beneficial for cost, resources and overall stress that comes with starting a business.

 

10. Coworking Space for Entrepreneurs

The people, space and area where you work on your ideas, can shape your success.

All the above benefits have positive effects on entrepreneurship; low expenses that can be invested in the product itself. Fresh minds and environments to boost motivation. Freedom to create where and as you please.

It’s the perfect home-base to produce and grow big ideas.

 

11. Health and Well-being

Man sitting outside with a tabletOur overall happiness and mental health affect our everyday life. Therefore, where we choose to spend our days is essential, and for some, the inside of a corporate building is the last place they want to be.

Coworking gives that perfect mix of structured work-life and working from the comfort of your own home. Having that balance promotes a positive and happy attitude towards working.

But what about the times when coworking doesn’t work?

The truth is, it’s not going to work for everyone.

There are pros and cons to everything in life, and some advantages can have the opposite effect on individuals.

Here is a quick list of some of the disadvantages of coworking spaces.

  • Adverse Effect on Productivity: The hustle and bustle of multiple teams and individuals all working at the same time can be distracting.
  • Lack of Tech Availability: Dependent on the type of job you are doing, not all coworking infrastructures cater high tech equipment and resources you may need.
  • Constant Change: The flexibility coworking allows, also leaves the door open to continuous change. The co-workers you were brainstorming with yesterday, may not be there tomorrow and your new neighbours can be anything from too loud to too grumpy.

 

So, there you have it. You know everything there is to know about the advantages and disadvantages of coworking spaces.

Have you been considering joining this ever-growing phenomenon to benefit your business?

You are well equipped with the knowledge to put that decision into action, just like we have here at Spare Workspace, and we love it! So jump in and see if it works for you.

 

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