These days, business is changing the way it’s conducted and even the places used for work. In fact, co-working spaces are quickly becoming an option for businesses of all types. However, many businesses are still hesitant when it comes to using shared office space.
Shared offices are not just for entrepreneurs or freelancers. The fact is that even multi-national corporations are beginning to see the light when it comes to shared office spaces.
The numbers of business choosing to use shared workspaces are set to increase in the coming years. But why? That’s a question we’re here to help you answer.
Co-working spaces offer a number of benefits for both companies and their employees. Let’s take a look at the top reasons that make co-working popular.
1). The Old Saying is “Time is Money”
If you’re running a business, you know the old saying is true. In fact, co-working spaces can be a boon for businesses that operate according to lean and agile practices. Almost any type of business can benefit from shared office spaces. Why?
Businesses can scale as needed: a business can grow and expand easily and quickly into co-working spaces. They’re fast to move into and get up and running quickly. There’s no need for furniture, set up of utilities, etc. These are usually provided.
On the other hand, if your business needs to reduce its staff and premises, then it’s easy to take on only the space you need. Again, services such as utilities are already included in the monthly payments, along with business furniture like workstations, etc. You can save money by not owning or renting a larger facility than you need.
Co-working spaces offer your business a cost-effective solution to office space compared to traditional leases or building ownership. Plus, you’ll be up and operating much faster.
2). Cutting Costs
Co-working spaces offer flexibility when it comes to growth or the need to reduce space. But they also offer flexibility in these ways:
- All-inclusive monthly payments: only pay for the space you need.
- Flexible payment options: some co-working spaces offer flexible payment options, such as paying month-to-month.
- Flexible lease: if you only need the space for a short time, need to travel for a while, then you’re not tied to a traditional office lease. Instead, you pay for the space only when you need it.
3). Serviced Co-working Spaces
Co-working spaces generally include additional services in their all-inclusive payment options, which is another reason they’re cost-effective for many types of businesses. Services will vary for each facility, so be sure to find out what’s covered before you pay.
You’ll generally find these services provided in a co-working office space:
- Utilities are included
- Office equipment: including printers, tech needed for virtual meetings, etc. are typically provided.
- Office maintenance: no need to pay for office cleaning, repairs, etc.
- Internet & secured network: expect up-to-date technology that makes it fast and easy to securely connect to the web
- 24/7 on premise security
- Fully staffed reception
- Office furniture
- Kitchen & snacks
- Meeting rooms (pay only when you need the space)
4). Great Location
When it comes to location, expect the co-working space to be near the prime areas of your city. You can find shared offices in the heart of downtown or out in the suburbs, making it easy to find a place that works for your employees and customers.
If you’d like to have a prime location, you’ll find the price of a co-working membership much less expensive than renting a traditional office in the same location. Even a small business can now afford a prime location without using all of its resources.
5). Networking is Easy
Shared offices make it easy to network with other like-minded individuals. Whether you’re an entrepreneur or a business owner or an employee, you’ll find more opportunities for meeting others in the inspiring atmosphere of a co-working space.
Co-working spaces often host events for networking and meeting others on a regular basis. These may include educational workshops, happy hours, guest speaker events, and more. It’s easy to meet others and learn together. Not only does the business benefit, employees will also be happier and more productive.
6). Nice Spaces for Breaks
Another aspect that can make employees happier and more productive are the break areas provided by co-working spaces. These spaces offer you and employees a place to rest and relax, taking a good break away from the desk and tasks.
Shared offices often include gaming areas, gyms and even coffee bars where you can relax alone or with others. The whole idea is to help people relax, so they can be rested and ready to work.
7). Impress Customers and Stakeholders
Co-working spaces are a great way to impress your company’s stakeholders and customers. When they visit you, they’ll find a modern, upbeat environment filled with high-tech equipment, comfortable office furnishings and more. They’ll find a wonderful, creative atmosphere, where employees are satisfied and motivated to do their best.
Your stakeholders and customers will walk away with an excellent opinion of your company. You’ll create a long-lasting, positive impression, which is what they’re looking for.
8). New Markets are Doable
When you conduct operations in a traditional office, it’s more challenging to break into new markets. The cost and inflexible setting make it difficult. However, using space in a new market has never been easier.
Finding prime locations and opening new offices, even internationally, has never been easier. It’s also more cost-effective, making it fast and easy to set up in new locations and markets. You can expand your business without losing ROI.
As you can see, shared offices offer a wide variety of benefits for business of all types and sizes. Whether you’re a freelancer or run a large company, co-working offices offer flexibility when it comes to costs and scaling, networking opportunities for staff and much more.
Is a shared workspace right for your company? Only you can answer that question, but we hope this article has helped to pinpoint some of the benefits you can expect from the use of shared office spaces.