Even from several years ago, coworking spaces have already made headlines in the startup industry because of its many benefits and opportunities. As the term suggests, ‘coworking’ is commonplace for individuals (sometimes with different expertise and backgrounds), who form a working community that fosters improved productivity. Today, not only modern startups have embraced this workplace culture but large, established companies as well because of its numerous advantages.
While professionals belonging to the ‘hipster’ crowd may somehow be credited for establishing coworking spaces into the entrepreneurial picture sometime in 2005, creating such a hub nowadays are taken more seriously by most professionals. ‘Cool’ is no longer the relevant term to describe coworking spaces. ‘Functional’ is now more appropriate.
How big are coworking spaces today in global entrepreneurship? Read on to find out why they are truly more than just square areas where people work.
Coworking spaces are usually rented at lower costs than the traditional office space. Most spaces offered today are fully-furnished into a proper office with ample lighting, provisions for small meeting rooms, lavatories, and bathrooms, pantries, and single-desk offices.
Coworking spaces are also perfect for startups that are looking to minimize their costs despite having the manpower on their fold. It’s also worth noting that working in such spaces have been proven to contribute to an individual’s productivity in how they make time management much easier and offer more flexibility.
Avenue for networking
Another advantage that coworking spaces offer is the opportunity for professionals to expand their current professional network. Nurturing a community of like-minded individuals who possess different skills and proficiencies can make up a good team, or complement what you need for your own goals. These spaces allow you to learn more trends and entrepreneurial know-how through interaction and mentoring. Hang around the coffee area some time and strike up a conversation. You might just pick up on some good ideas from your coworking peers and be the next big thing.
Opportunities for partnerships
Coworking spaces can also expand to makeshift venues for events and meetings for companies that you are looking to partner with. Try to organize your own functions and invite other professionals to attend them for a possibility to strike up a worthy alliance. Transform your space for other startups to conduct their trainings, programs, and even team building activities. Other coworking spaces also serve as an incubator for newborn startups that are looking to launch their brands soon out on the market. Opening up your space to more work ventures will allow you to meet more industry practitioners and experts who you can eventually work with in the future.
Best for startups
Aside from providing ample leverage to expand networks, foster a community, and make for more efficient time management– all at a lower cost, coworking spaces also offer professional independence and a concrete support structure. Brad Neuberg who founded the concept in 2005 consulted a life coach before embarking on the new culture that eventually took the business world by storm. The basic idea was to create a functional space for remote workers, freelancers, and startups that are looking to get out of confined office spaces and experience more freedom professionally. Today, there are over 35,000 flexible spaces that have helped startups break into the world of entrepreneurship with positive results.
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