How Business Owners Utilize Co-Working Spaces to Grow Faster with Less Risk

For a few years now, we’ve seen the co-working phenomenon grow exponentially around the world. The need for professionals such as consultants, solopreneurs, and freelancers is what has led to this growth. In fact, in 2017, there was a 5% demand for co-working spaces- by 2019, this increased to 12%. Experts believe this growth will continue, with around 5 million people utilizing these spaces by the year 2024, due to the wants/needs of the new generation of workers- including the desire for space management.

Contrary to popular belief, co-working spaces are not limited to start-ups and other small businesses. There are some of the big brands, Fortune 500 companies, and multi-national corporations that are taking advantage of this innovative concept.

The entire business community is attracted by the flexibility, along with the amenities that come with it. However, though flexibility and space management are part of the attraction, this is not the only benefits of co-working spaces. Additionally, most co-working spaces do offer flexible membership terms, which means there are no long-term leases so, if you only need the space for a short amount of time, there’s no problem.

In the current market, co-working spaces are doing so much more than simply meeting the basic needs of a business. They are actually creating a working ecosystem that is not only sustainable but offers the opportunity to grow without investing a lot of risk.

If you are located in New York and you’re curious how BevMax Office Centers can help your business growth, contact us. We would love to schedule a tour. Meanwhile, let’s take a closer look at 5 ways that business owners can utilize co-working spaces to grow with less risk.

5 Ways Co-Working Spaces Fuel Business Growth

As mentioned, co-working spaces are becoming more popular by the day. One of the primary reasons that businesses are utilizing this groundbreaking concept is that it fuels growth without involving the risk that comes with utilizing other growth options. Here are 5 ways that co-working spaces fuel business growth:

Co-Working Spaces Offer Opportunities for Networking

In a traditional office setting, workers must travel to various events and seminars in order to take advantage of networking opportunities. However, with the evolution of the co-working space, it’s easier to find and build a network of like-minded individuals to outsmart your competition. Additionally, workers not only have the chance to network with others who have the same or similar interests, they can connect and collaborate with peers in various domains. Yes, one of the primary ways that co-working spaces fuel growth is through networking opportunities.

Co-Working Spaces Encourage & Increase Productivity

Co-working spaces such as ours, provide an ambience that is conducive to working, as well as ergonomic workstations- which promote mind/body coordination and increases concentration. After all, when a worker is comfortable, they are going to be much more productive. In fact, research indicates that workers that have made the transition from a traditional office space to a co-working space have seen their productivity improve. This positive influence can be utilized to fuel business growth.

Co-Working Spaces Encourage Workers to be Innovative

We know that co-working spaces bring together a diverse group of workers from various industries. Therefore, it encourages new ideas, innovation, and flow of creativity. The smaller start-ups can use these spaces to find new pathways to growth and the larger corporations can quickly and easily share their ideas for growth. Co-working spaces have a unique energy that can be used to fuel rapid business growth.

Co-Working Spaces are Impressive to Everyone Involved

Some of the things you will encounter in co-working spaces include high-quality, fully-equipped meeting spaces/conference rooms, a friendly community, refreshing ambience, and more. When you bring your investors, clients, and guests to these places, it instills trust.

After all, it looks so much better when you have a professional setting to bring clients versus bringing them to your home or having them meet you in the local coffee shop. Additionally, co-working spaces can help businesses attract and retain talent. This brings perks to the employer and the employee. Co-working spaces are impressive to everyone: clients, guests, investors, and even potential employees- which can be leveraged to fuel business growth.

Co-Working Spaces Offer a Variety of Services

When it comes to running a business, there are a variety of services that are needed, including HR, legal compliances, IT, registration, and so much more. These types of services can make the business journey a lot easier, which means owners can focus on the operations and processes of the business. Co-working spaces fuel business growth by allowing owners/manages to actually focus on the growth of the business.

BevMax Office Spaces: Your Solution for Business Growth

The concept of co-working spaces is becoming what we know as the “new normal”. There are many benefits that are offered by these spaces, including helping business owners grow their business. These growth opportunities are equal for everyone, whether you’re a freelancer, a start-up, or even a large corporation.

If you have not already considered utilizing co-working spaces in your business, it’s time to contact us at BevMax Office Centers to find out more. We have individual and team spaces that you can grow into or downsize.