Why Coworking Spaces Are Becoming More Popular with Small Businesses

  • 6th June 2017
  • Guidance
  • 3 mins

Historically, workers had to commute to a physical office environment to work each day. However, thanks to technological innovations in recent years, people can now office anywhere where they have an Internet connection and access to personal devices, such as a tablet or laptop.

However, while some of your work may feasibly be completed in a corner coffee shop, there is still a need to create a professional appearance when meeting with clients and colleagues. Co-working spaces provide mobile workers with the affordable, convenient and professional office space they need as well as the ability to work remotely as desired.

Even when not meeting with professional colleagues in this space, a co-work environment beats the isolating feeling of a home office. Everyone from IT professionals to creative minds and more are overwhelmingly choosing to work in a co-work environment.

Small businesses are also increasingly taking advantage of co-working spaces. In fact, a study completed by Emergent Research has indicated that this type of work environment can lead to increased motivation and job satisfaction, socialization to meet professional contacts, more engagement, and other benefits that small business owners can take advantage of. A closer look will reveal the many reasons why small businesses are jumping on the co-work space trend.

Community
Many small businesses are launched from a home office. However, this can be an isolating experience.

Isolation can affect you mentally, and it can also limit the social interaction you have with others. Co-working spaces are affordable for startups, and they also give you the ability to develop valuable relationships with professionals in a wide range of fields. There is a considerable amount of knowledge and experience sharing that takes place in these environments.

Collaboration and support is offered in different ways. Small business owners can learn a great deal from the experiences and insight of others, and this includes even when those other professionals who are not actively involved in your field. In some cases, cross-collaboration even occurs that benefits multiple parties.

Affordability
When working out of the house is not desirable or feasible, a co-work space is an affordable option. Renting a dedicated office space requires you to commit to a long-term lease, pay hefty deposits, be responsible for utilities and maintenance and more. You even have to buy furniture and décor.

With a co-work space, you can easily step right into your professional work environment at a very affordable price, thus reducing your business costs. This is also ideal for those who are not confident enough to sign a long-term lease commitment.

Convenience
When starting up a new business, you generally do not want to spend months trying to set up a professional office environment. This can waste time and money in the critical early days of your venture.

Everything from trying to find an office space to negotiating lease terms, setting up the office, getting the equipment in place and more can be burdensome. When you choose a co-work environment, you can step right into an already-established venue for immediate use.

Scalability
In a co-working environment, you can work on your own as a sole proprietor, or you can ask a few employees to join you. These may be employees who work out of their own home office sometimes, but you may also work together some days of the week in a co-working environment.

Some startups grow very quickly. Others may grow and shrink several times before taking off. When you lease an office space, you are locked into that space for a lengthy period of time. This is not the case when you choose to office in a co-working environment.

Better Work/Life Balance
Many entrepreneurs work long hours each day to get their business up and running successfully. When you work at home, you often have family distractions throughout the day. This can detract from your efficiency and productivity.

When you want a quiet space to concentrate in, a co-working space is ideal. Many of these spaces are open 24-hours a day throughout the week. You can use the space as much or as little as you want to in order to create the work-life balance that you need and without paying more for office space than is necessary.
According to Harvard Business Review, those employees who worked in a co-working office environment generally felt more in control of their work, enjoyed the community aspect of the office environment and viewed their professional endeavor as being more meaningful.

Altogether, this is an affordable, effective office solution for entrepreneurs and small business owners. You can break down the traditional corporate walls and enjoy the benefits of this new office trend.

GUEST AUTHOR

Eric Gordon Independent Business Development and Marketing Specialist for SMEs

Eric Gordon is an independent business development and marketing specialist for SMEs. He loves sharing his insights and experience to assist business owners in growing their revenues. You can find Eric on Twitter @ericdavidgordon

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