Co-working spaces are really trending well when it comes to discussing the current demand patterns for workspaces. More and more companies, specially the start ups, now look forward to work from a shared office space rather than a conventional workspace. Studies show that working in a community like environment at the shared office spaces, employees perform better and the energy level stays high for longer.
Co-working spaces are cheaper options than fixed and permanent office spaces without doubt. Other than being easy in the budget, they offer a number of other benefits that are boons for small businesses and start ups. After discussing the Benefits that Start Ups Can Derive from Co-Working Spaces, ONE Co. Work brings some more benefits of co-working spaces for start-ups.
Flexible And Scalable Office Spaces
Most co-working spaces offer month based tenures, as opposed to traditional office spaces, which lock you in for good number of months or even years. Since you pay monthly rentals for your shared office and not a long term lease, you are free to upgrade or downgrade plans at any time. If your business expands or reduces, you can go for reducing the seats or upsizing your shared spaces.
Networking Opportunities for Star Ups
One of the major benefits and attractions of working at a co-working space is that you share your office space with several like-minded entrepreneurs and innovators. The work culture and the various networking events help startups and emerging members from different backgrounds, to collaborate on a single platform. This further enables knowledge sharing and development of best market practices.
The ecosystem also helps them connect with the co-members for their needs in recruitment, finance & accounting, legal, digital media & PR, enabling economies to scale and fostering a useful community.
Most of the co-working spaces help their startup members to connect with VC partners. Start ups are able to find suitable mentors for them. The funding partners and mentors act as guide to help them nurture and grow their business and take it to the next level.
Pay Per Use Model
Start ups or solo entrepreneurs can choose from a range of types of workspaces, various meeting rooms/conference rooms, additional spaces like idea rooms, and themed terrace cafés to encourage brainstorm. There are other benefits offered like co-working spaces host weekly team catch-ups, close deals or conduct workshops and events. The best part is that the members have to pay only for the partnered spaces which they use them.
Co-working or shared workspaces create the genuine environment of creativity and productivity. The members enjoy a perfect mix of fun, collaboration, and knowledge sharing which helps them to grow and thrive to the next level of business growth. It is an ideal match for startups and small businesses with fewer funds available, but who have some great ideas, and are in a need of just the right environment to succeed.