Co-working spaces have become synonymous with the digital nomad. Armed with a laptop, an idea and sheer determination, these entrepreneurs get things done in the comfort of a shared and flexible workspace. However, these spaces are valuable for small businesses as well.
Providing flexibility is particularly crucial for small businesses and entrepreneurial companies. Giving these companies the ability to choose the right workspace, in the right location with the right services, enables them to scale up or down quickly.
Coworking spaces aren't a new concept, but in recent years, offerings from spaces like Motley Crow and CoLab, have drawn business owners due to solid business services and networking opportunities. Shared workspaces charge businesses a fee for access to a physical workspace and various business-related amenities, like coffee and printers. It could be a good value for your small business because it removes many of the overheads that can so often drain it.
Depending on what's needed, services can be scaled from a low-fee community membership all the way up to larger company workspaces. The draw is in the flexibility and access to a network of business owners.
Coworking spaces are more than just a physical workspace. While business owners, entrepreneurs and freelancers have access to a workspace, which can either be a full-time designated area or a floating space, the services provided in the space are what make it worthwhile.
Businesses need to provide great work environments in order to grow and succeed. But this can be incredibly difficult, because finding and creating a great workplace is a complicated, opaque and expensive process
By partnering with one of these companies, business owners don't have to worry about basic business services such as Wi-Fi, printers, conference room access, computers, mail handling, coffee and refreshments. Essentially, it’s an all-in-one office package for small businesses.
Community and Connections
In addition to basic services, co-working spaces offer networking opportunities and resources for growing your business. Besides brushing shoulders with various business owners each day, they host individual networking events for business owners to connect.
It has been said that co-working spaces are havens of productivity, inspiration and happiness. Often people come to the space because they need to get something done, but they stay for the community, collaboration and networking.
The community aspect is a huge plus of joining a co-working space. Sharing an office with similar-minded small business owners gives you the opportunity to network while you work and share resources that you'd otherwise have to track down on your own.
In most cases, you'll find that there are a lot of other startups and small companies like yours, so you can really benefit from each other's experiences and connections.
The Growth of Remote Work
With the rise of remote work, partnering with a coworking space may be ideal if your small business only needs a central location to meet a few times a week. A study from IWG found 74 percent of employees are working at least one day a week somewhere other than the office.
Depending on your business needs, the monthly cost could be significantly less than that of establishing your own office and providing these basic services for your employees. Another potential benefit is the progressive attitude and comfortable space, meaning your business can potentially use this partnership to attract new talent, to grow and of course flourish.