Co-Working Spaces – Are they still out there?

Co-Working Spaces – Are they still out there?

Introduction

Coworking spaces are offices that allow workers from different companies to work in close proximity to one another, often used by larger companies to reduce unused office space and embrace a more flexible way of working. It’s a more convenient space for remote workers to continue to meet as well as collaborate with other colleagues without having to travel so far. It also allows workers from multiple companies to work together when it comes to large projects that have been given across businesses.

Advantages

  • Greater Flexibility – The majority of coworking spaces don’t force you to commit to long-term contracts. Rather business owners can take advantage of flexible hours and pay-as-you-go terms, along with shorter leases in order to keep things affordable for small businesses just starting out.
  • Boosted Productivity – By sharing a coworking space, it allows multiple colleagues to work in a smaller space compared to large offices used by one business which allows them to interact with each other much more and be more productive when it comes to the projects that they are working.
  • Lower Costs – By using coworking spaces instead of individual working spaces for your employees, you can keep costs down by splitting the cost of the area and the equipment that your workers use. By doing this, you are able to focus your finances on more important things if you wanted to.

 

Disadvantages

  • Less Privacy – Sharing spaces with other companies could mean that by working physically closer to each other, the amount of privacy is lacked, which could make some employees feel uncomfortable. Also, if you are working on undisclosed projects or working with sensitive data, there could be more chance of information being leaked outside of the relevant sources.
  • No Branding – A business will always want to show off their branding and make it clear that the office space that is being used belongs to them. Most coworking spaces will not allow any kind of branding or company logos in the office, so your options are limited if you want to show off to clients or potential hires.
  • Limited Customisation – Most members of a coworking space will have limited options when it comes to office design, shape and layout. So if the area doesn’t suit the needs of your co-workers or the company then you may have to look for a more suitable place.

 

Conclusion

Coworking spaces are definitely still used and in great numbers. There are many advantages and disadvantages of working in a coworking space so if this is something that your business is thinking about. Make sure that you know exactly what it has to offer and if it is the right decision for you. If you come to realise that maybe coworking spaces are not for you then perhaps think about owning your own office space, that way you can run it exactly how you wish to run it.

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