What is a co-working space and how can we benefit from it?

What is a co-working space and how can we benefit from it?

In the recent years, co-working spaces have gained popularity among entrepreneurs and freelancers working for multiple clients and projects but did not have any fixed headquarters or office. The trend continues to grow in popularity which also started to attract the eyes of realtors and investors as well but what exactly is a “co-working space”? Simply put, these places are offices that accommodate employees of different companies and projects, including freelancers and independent entrepreneurs as previously mentioned. These spaces can be composed of a mix of private offices rented on a regular basis and common areas where everyone can freely come and go.

And as the demand for BPOs and outsourcing also increase, so does the need for collaborative workspaces especially for startups since it would be more practical and economical to simply opt for a co-working space than to establish a large office right away, when there’s only a handful of people involved at the startup, and they can keep up with the low overhead costs by doing so.

 

Benefits and advantages of co-working spaces

Agility and utility – Modern business and marketing is fast-paced and demanding. And to be able to keep up, entrepreneurs and professionals must be mobile and agile as well. With collaborative workspaces, you can also keep up with these demands with succinct flexibility because you can virtually adjust the spaces according to your needs. Hosting a large workshop? You can easily set up the fixtures as needed. A photoshoot project suddenly came up? No problem with that at all. Using a co-working space is as simple as using modular tools.

Move in and out conveniently – Becoming a member of collaborative workspaces takes out the hassles of expensive moving processes out of the question since most of these collaborative workspaces already come fully furnished with all the necessities and equipment such as desks, office fixtures, computers, internet connection, and printers. On most cases, the only thing you’d actually just need to bring is YOU or your team!

Cost-efficient – By going for a collaborative workspace, you only pay for what you need. Consider this scenario; You’re suddenly in the need of establishing a regional office but you only have 10 employees to spare for that regional branch. Renting a full-floor office not only becomes expensive, but you’re wasting extra resources as well, due to the fact that you only have a small number of employees to assign there. By going for a co-working space instead and placing your employees there, you’re giving them the appropriate work setup and resources they need by paying only for what exactly they’re using.
Not to mention that you can also easily add spaces as the team grows.

Scale with ease and efficiency – Each and every company’s goal is to grow, regardless the type of company. This is especially more important for startups as they’re the ones who ramp and scales growth faster and one of the goals of co-working spaces is to encourage and promote optimized growth in the professional world.

On-demand technology – Setting up IT infrastructures and requirements can be a very tedious process, take a lot of time and would require multiple vendors & service providers to complete, a process that most company owners find daunting. With a co-working space, everything is already set-up according to your needs and would just require a few modifications to accommodate you or your team’s specified requirements.

Encourages networking – Being a member of a co-working spaces enables you to meet a lot of new people, exchange ideas and promote businesses or other entrepreneur ventures. This gives you or your team the perfect networking opportunity that helps you and your company grow as well, as we mentioned before in one of our blogs, regarding the importance of networking. Many global enterprises enjoy this boon as it lets everyone gather new data and stay updated in the trends.

 

Benefits at every aspect

The number of benefits one could get from being a member of a co-working spaces outweighs the cons to the point that it’s almost negligible. Meeting new people for networking and sources of new, innovative ideas, flexible & convenient working environments, and most importantly, cost-efficient setups guarantees the growth of every individual in the co-working spaces both on a personal level, and corporate aspects.

Looking for a great co-working space to be a part of? Join us today!

 

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