What Kinds of Businesses Use Co-Working Spaces the Most?
The truth is, no business can’t benefit in some way from using a co-working space. Day traders, writers, legal professionals, and even home service providers can use a shared workspace, which allows them to avoid paying for a brick-and-mortar office. After all, they only need a commercial address, desk, and a stable internet connection.
In recent years, co-working spaces have soared in popularity because they have the flexibility that commercial leases do not and extraordinary amenities that most SMB’s simply can’t afford on their own. This option allows the business to pay for what they need and nothing more.
Co-Working Spaces are the Future of Business
On average, office space in New York costs around $82 per square foot in Midtown to $55 per square foot in the Bronx. If we take the time to think about it, the world has undergone some significant global financial turmoil during the pandemic. Many companies have downsized and laid off most (if not all) of their employees, and some companies even went bankrupt.
Many companies stayed open to cut costs, shut down their office buildings, and had employees working remotely. This is where co-working spaces have saved the day. They are a cost-effective, flexible replacement to the traditional office building.
Following are some of the reasons that co-working spaces are the future of business:
Allows you to make connections
You’ve heard the expression, “teamwork makes the dream work,” and it’s true. Learning from the mistakes of others is helpful. When you join a co-working space, you can connect with others, learn from them, and share your experiences. Co-working spaces provide all of your business needs and give you the chance to socialize, collaborate, and network.
Co-working spaces provide everything you need: ideal lighting, comfortable chairs, good air quality, ideal temperature, and more. All of this makes you want to be more productive because it’s easier to focus when you’re comfortable.
When working with people from various fields and backgrounds, you broaden your horizons. Creativity is fueled when you interact with others and exchange ideas. Someone else may have a solution that you never even thought of and vice-versa.
Since you have everything you need in one place, a co-working space lets you start the day in a wonderful mood. You get to socialize with others, collaborate and brainstorm, and find new ideas. Working together encourages you to support others, share and spread your knowledge, and accept the knowledge of others, and this increases everyone’s success.
Who is Using Co-Working Spaces?
Below, we’re going to take a look at the workers that are using co-working spaces.
Small to Medium-Sized Businesses
The number of employees at a small to medium-sized business can quickly change; we saw evidence of this in the pandemic. Business owners may be put under a financial burden if they need to increase or decrease their workspace. This is why so many are turning to co-working spaces. It allows flexibility without putting too much strain on the overall budget. This is an ideal, easy way for business owners to reduce their office overhead while keeping their employees happy.
While startups are a lot like small to medium-sized businesses, they usually have to deal with issues that small to medium-sized businesses do not. Since they are young companies, it’s not hard to imagine the financial burdens they face. Expenses such as buying/renting office space, hiring new employees, buying equipment, and more can put them in a bad financial position. Co-working spaces are ideal for this group because they cover the need for office space and equipment costs. Since it’s more affordable, they have a much better chance of making it.
Large Businesses with Remote Workers
The pandemic has taught us that there are many benefits to working remotely. Many businesses shut down their offices and had workers working from home.
Unfortunately, some workers have difficulty working from home for various reasons. Co-working spaces allow these employees to work remotely while still working in a professional environment.
Freelancers and digital nomads need a proper place to work. Sometimes, it’s not ideal for working from home for various reasons. Many people who work from home have difficulty maintaining a healthy work-life balance. Additionally, since there is so much activity, it’s not always ideal for working from the local coffee shop. This is why co-working spaces are ideal because it allows these workers to separate home and work.
Are You Ready to Join a Co-Working Space?
If you feel like you might be interested in joining a co-working space, we would love to talk to you! Book a tour today at any of our 4 convenient locations. We can show you around and help you see how working in a co-working space can benefit you.