Setting up your business and running it from home may come with multiple challenges. While the dream of many startups will be to work from the comfort of the home while sipping a hot cup of coffee, it is not always possible or the best possible solution. While affording a traditional office space can be expensive and unaffordable for all, it is best for likeminded entrepreneurs to set up shop under a common roof. This has led to the rise of co-working spaces that are shared workplaces.
What are the Co-Working Spaces?
According to the 2017 Global Coworking Survey, shared spaces and coworking places grew by 22% per year. They are growing at a rate of 40% per year. This is not a traditional office space and is best for increasing startups. The concept of coworking is where workplaces exist which can be used by individuals and startups where they can rent a desk and share common facilities which are available to all. The fact that one can avail multiple facilities is just amazing. One gets facilities like-
- Internet connection
- Coffee and other communal areas
- Xerox machine
- Meeting rooms
Why is it gaining Popularity these days for Startups?
- Lack of spaces
- Rising costs of spaces
- Infrastructure availability
- Risk of getting burnt out faster
- To get connections
- The professional setting is provided
9 Reasons Why Startups should choose Coworking Spaces
The biggest attraction why one would choose a coworking space is the affordability. Renting a coworking space is very cheap than renting out a whole office. It comes m=with umpteen facilities which justify the price. Also, they can be rented for sudden meetings, weeks or months and are thus not tied down by a contract. For startups, there is nothing better than such a deal.
Startup founders in coworking spaces can network with their peers, like-minded individuals and other founders. These driven members can help get new ideas, develop solutions and reach cognizable benefits. This is very important to build contacts to be able to build a successful line.
While renting out a traditional space requires a lease and costs a lot more. Plus, one has to stay for the required time at the place. With coworking, the timings and everything is flexible making one have a comfortable journey. This makes one very adaptable as per the developing business.
With coworking, one can get access to multiple amenities that is the latest resources required to make your startup grow. They come with multiple amenities like meeting rooms, breakout spaces, nap rooms, privacy phone spaces, pool tables, outdoor terraces, and lounges. It comes with work desks and all physical infrastructures required running an office.
Coworking also offers multiple services like internet connection, access to the latest tools, services like slack, google analytics and others. This access to services makes one more likely to succeed and get good responses. This also aids in a general increase in confidence and skills.
An ideal coworking environment helps one counter loneliness and lack of human interaction-often considered the biggest problems of freelancing. One does not have to move and adjust completely and this is an excellent way to combat depression or the disillusionment that arises from working from a home base.
Easy access to Talent
This is required to be able to hire more staff and scale up business. It is usually time-consuming to find the right fit. Coworking spaces reduce that effort and find the right person. Multiple freelancers habit these coworking places so one can select wisely. It is less risky and saves a lot of energy and effort.
Access to Potential Clients
In some cases, those in a particular business may be the best client for those on the same space. This adds a good client base and one can easily access clients who could invest and add value to the business they also understand how the client works and what they want, this makes it easily adaptable and works better.
This is an intangible benefit of coworking, one feels motivated and disciplined in that environment to perform and take cognizable note of their duties. Being surrounded by driven and other successful people really adds to the productivity and increases it greatly.
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