When you sit back and imagine a co-working space, you would probably have a scenario in your mind: a coffee machine with every type available, a small group of co-workers chatting nearby, water coolers and a large team of workers looking intently into their laptops.

There is a lot to coworking environments than just a funky coffee machine though. Entrepreneurs and startups could really take advantage of the office environment it provides them. To begin with, renting coworking office space is not that expensive.

The Positive Economics of Shared Office Spaces

Sure, it is cheaper to sit in a bistro, coffee shop or restaurant and using the free Wi-Fi, but you won’t have the noise from the general public to contend with. Most of the spaces that provide for co-workers, especially the ones located in startup hubs such as SOMAcentral in San Francisco, are often open around the clock. Many businesses work beyond the 9-to-5 scheme of things, so you can turn up whenever it suits you best.

Bear in mind also, hiring a long-term lease on some office space is going to cost considerably more than working in a coworking space. This is something that startups especially should take notice of. Moreover, small and new businesses can grow at alarming rates, so it is worth considering the option of a coworking environment.

Think about it: if your new business has just hired a wing on an office block and your company expands to double the staffing levels, where are you going to put all these extra employees? In a coworking space, any increase in staffing levels can be sorted by contacting the community or building administrator and renting more desk space.

It may involve moving the entire department down the corridors, but expansion is just one of the challenges startups will encounter during the early days of the business growing. Entrepreneurs and startups are in good company when it comes to shared office spaces. Why? Simply because these coworking environments see them all the time.

Startups and the Shared Office Environment: Already Business Companions

Startups can form some 60 percent of the office space occupied in a shared open plan setting. It will offer businesses many services [within the cost of the rental] that could benefit young entrepreneurs and fresh businesses alike.

There is a wide variety of services like special lecture nights that can help with accountancy, website design and development, investing opportunities and how to get involved in social events with the other members of the shared office experience.

Moreover, you and the business will be surrounded by positive energy, a sound working environment and a forward-thinking atmosphere. Startups are notorious for being challenging in the early days and many will fall by the wayside before they can even get going.

By working in a shared open plan office setting, small and new companies can surround themselves with others who are hardworking, dedicated, and smart. It is exactly the kind of environment needed when you are trying to build a business.

Often, there will be late evening work when your friends and family will be out at the pub or bistro and times will feel very low. But networking with fellow co-workers – some of whom will be in the same boat as you – will give you a feeling of support.

Collaboration

Entrepreneurs and startups will often find that they approach the team and ask if anyone has experience in something. Things like video production, programming, accountancy or imports. More often than not, no staff member can help.

But in a shared office environment, it is likely you can find a huge range of specialists, sitting there right on your doorstep.

This article was written by Julie Pace and published on
https://foreignpolicyi.org