It’s no longer a new concept but a convenient one that fits the budget, and it’s scalable; that is the coworking space. In recent years, co-working environments have been a tremendous hit for entrepreneurs of all backgrounds and industries.
What are coworking spaces?
A coworking space is an environment where many businesses co-exist in a shared space. It can even be different employees from a one-single company. The term coworking, at times, can be used not only as a service option but as a description within an organization sharing the same space for different departments. The main reason of why coworking spaces exist is to reduce the cost and resources yet remain productive. For example, several businesses use a single area for different departments or use a single space for employees that don’t necessarily work together but can co-exist together. Another reason why coworking space is used is to network and perhaps even collaborate with other businesses that may specialize in areas that will help you grow.
Benefits of Coworking Spaces
Without a doubt, there are several pros of coworking spaces that make them a favorite for many employees and employers. We want to share a few features and benefits it offers that make businesses want to adopt this trending and easy-to-use model.
- Reduced Operational Costs – In an organization, employees in different departments may depend on the same resources; a coworking environment often helps reduce the operational costs associated with these resources. For example, office space, electricity, internet are a few of the resources that can be shared between different companies.
- Socialization – Not a fan for employers but a must for employees. Having the ability to socialize with different companies that are working on different concepts or projects becomes a learning experience that also increases productivity and creates the happy feeling that liked-mind individuals surround you.
- Networking – Coworking spaces are a great way to network and meet new people. Many companies have found their other half because they realize two companies could collaborate toward a common goal. Additionally, networking helps you create a bigger network of professionals specialized in different fields and areas that may come in handy down the road for you and your business.
- Diversity – In a coworking environment, diverse work culture is present no matter what, and that adds value to your business and the people around you. Diversity is the key to growing with an open mind.
- Group Discounts – Coworking environments often offer great group discounts, especially for companies bringing multiple employees to said setting; it brings value to the facility and creates community. Ask a coworking environment for them if you are thinking of bringing your company to collaborate in a coworking space.
- Flexibility – Coworking spaces are often open 24/7, which means that your employees or the company you represent can choose their time to work, creating a vast flexible schedule; some people prefer to work at night, others on weekends, and many others during the early morning. Coworking environments make this possible.
In conclusion, it may be a new concept for many, but different industries do adopt the concept of coworking. If you look at the big picture, it is a great environment to socialize, discuss ideas easily, share beliefs, widen your network, and develop personal relationships that can be beneficial in the long run. In short, this is why companies often incline to implement a coworking environment in their companies. Plus, if you are starting, well, this is a cost-effective solution to get the most out of your budget.