What is a co-working space?
Co-working spaces are an arrangement in which workers of different companies share an office space. It allows cost savings and convenience through the use of common infrastructure, such as receptionist and custodial services, equipment, utilities, parcel acceptance services and in some cases refreshments.
The days where co-working spaces were occupied only by freelancers and start-ups are far behind us, large enterprises nd MNCs have started selecting coworking spaces over private offices in view of the agility and flexibility offered by shared workspace providers.
5 reasons why co-working spaces over conventional/traditional offices is the smart choice:
Opportunity for Customization of Office Spaces
Different businesses have different infrastructural requirements. Flexible workspace providers design private office spaces or shared workspace as per the business’ infrastructural needs. Flexible workspace provide options between single desk, shared office or private cabins. It also gives an option to have brainstorming sessions in designated or common zones.
Lease – Real estate Efficiency
Most conventional office spaces are rigid, inflexible & require hefty investments. Co-working spaces, on the other hand provide plug-and-play offices that require no CAPEX investments, no lease! You get a membership according to your needs, and you can change it at a moment’s notice. Be it a desk for just one day or 10 dedicated desks for a week or a private office for four months, shared workplaces give you remarkably flexible choices.
Co-working spaces organize events to keep their members and employees engaged. DIY workshops, corporate grooming seminars, business related workshops, etc. give employees the chance to have fun and meet new individuals from various backgrounds while learning something new.Such recreational exposure helps in keeping the employeesfocused and motivated, in turn increases their productivity.
The foundation of co-working spaces is building a community of like-minded individuals. Co-working spaces are centersfor ideas and experiences, consisting of people from various companies and walks of life working together within the same office premises. The Co-working concept also provides individuals the opportunity to expand their professional network, as well as venture into new collaborations for mutual interest.
One of the benefits of coworking spaces for startups is increased productivity. Working in an atmosphere that stresses on the importance of collaboration and shared values is much more inspiring and motivational. In a coworking space, you work with other innovative and creative freelancers, entrepreneurs, small businesses, or startups.
When you work around other like-minded professionals, some of whom have very unique talents and skills, you are exposed to a wide range of knowledge that can help analyse and make progressive decisions when faced with a difficult work situation.
One advantage of coworking spaces is that you have enough people to consult within the space, there is no need to step out of the office to get professional advice or inspiration. That minimizes time wastage.
Enhances Work-Life Balance
Balancing work life and personal life is a struggle for everyone. Main benefits of working in a coworking space is that it allows you to keep your work and personal life separate.
Coworking helps you to stick to a more efficient work schedule and focus in a distraction-free environment by providing a more creative and productive work atmosphere.
Your motivation for work spikes, as everyone in your space is aiming at success, ultimately boosting productivity. It is a positive step towards the much-needed work-life balance.
Seamless Flow of Ideas
Coworking means brainstorming and learning new things every day from differently skilled coworkers. In the long run, one of the benefits of shared office space is that you become creative, knowledgeable and eventually an industry-leading expert.
When ideas flow seamlessly between professionals working on the same project, everyone is able to focus solely on the areas in which he/she is skilled.
Shared workspace promotes collaboration by providing open space for easy communication, encouraging coworkers to share knowledge, expanding job opportunities and opening people up to a new network of professionals. Coworking spaces boost your creativity.
Working along other creative and innovative freelancers, entrepreneurs, etc. can help in gathering new perspectives, ideas and advice which ultimately leads to more productivity.
Choosing a shared space may be seen as a benefit of coworking spaces to freelancers, entrepreneurs and startups. The advantages of coworking spaces is that you are not just sharing an office space, but you become part of a community of like-minded people.
This type of office environment brings a feeling of collectivism that will make the workplace more enjoyable and productive. In addition, such an environment offers some more benefits other than creating a community of people who feel connected to their coworkers, it often hosts a variety of interesting events and lectures that all of the employees can attend.
Equipped Offices and Appropriate Meeting Spaces
When buying your own office, you need to invest in its design, furniture and equipment.
On the other hand, coworking spaces come with everything you require. Coworking spaces usually feature a modern design that appeals to a youthful workforce. In addition, coworking spaces have appropriate meeting spaces where business meetings can be held.
Coworking offices and their meeting rooms offer a wide variety of affordable and professional rooms to suit any occasion.
Corporate Mailing Address
Coworking spaces are located in the prime location of cities, where it would otherwise be nearly impossible to find an office space. A coworking space gives you a corporate business mailing address.
Having a corporate mailing address in a highly reputable location also sends a positive message to your clients which is one of the major benefits of working in a coworking space.