5 Reasons Why Coworking Spaces Are Great For Growing Your Business
June 4, 2016
Coworking spaces are designed to be as dynamic as the people who will use them. It offers functionality and flexibility that you won’t see in a typical office. As you grow your business or bootstrap your start up, a shared office is a viable option for a centrally-located business address and headquarters that will not cost an arm and a leg.
It is always sound business practice to keep expenses low, especially if you are just starting. If you need an office or command centre, but don’t have the money or energy to spend on the administrative duties that come with running an office, then check out the following benefits that coworking offers:
1. Low start-up cost
Coworking spaces offer freelancers and individual entrepreneurs a chance to work in a fully equipped office without worrying about the costs of setting up an actual office. By getting a shared space, you can easily operate your business without needing to compute and allocate funds for building rent, fire insurance, office equipment and various other expenses that come with starting a business.
Even if you can afford it, the time spent on sourcing equipment and furniture, talking to contractors and getting licenses is precious resource that should go to building your business.
With a shared office, everything is already set, you just plug and play.
It is extremely easy to scale up a shared office space as you grow your business. You can tailor your contract to suit a one-man business, a team of 2, or a company of 5. There’s a meeting space that can accommodate up to 10 people or a larger conference room for a bigger group. There’s a members’ lounge, phone booths, mailbox service and even stand-up desks.
3. Central location
Your clients won’t have a hard time finding you because shared offices are centrally located in cities. If you are renting your own office, you might need to sacrifice location for low monthly rent. By going for a shared office, you get an address in the heart of the business district with 24/7 access to transportation, cafés, gym and even shopping boutiques.
4. Networking opportunities
Renting space in a shared office comes with the added perk of being surrounded by goal oriented and high-achieving people. This is an opportunity to network with small business owners, edge thinkers, professional freelancers and other entrepreneurs.
Being part of a coworking community means you are surrounded by potential partners, clients or mentors. You can easily outsource great talents to help you with specific projects or time sensitive tasks.
5. Promotes work-life balance
“All work no play” is a phenomenon you’ll never experience when you’re in a shared office. Coworking spaces are great as they promote work-life balance by providing venues to de-stress and recharge during a day of tiring work. Aside from weekly social events, different health and wellness activities are regularly being held for the benefit of its members. Most shared offices have a dedicated space for meditation if you need a little time for yourself and even a room for a little nap. A game area is also waiting to accommodate you so you can stretch your muscles while your brain is busy thinking up a solution to work challenges. Plus, there’s a fully functional shower room in case you need one.