8 Benefits Of Coworking Spaces | The Space Coworking
Benefits Of Using A Coworking Space
The coworking space sector is growing rapidly, with up to 20,000 dedicated coworking spaces worldwide by the end of 2020 and an ongoing growth rate of 20% annually.
"One of the key factors is that the benefits of coworking spaces can’t be matched by other types of office."
I run a small business in the flexible workspace sector and make use of coworking spaces like The Space Coworking in Farnham every day. That means I’ve got a unique perspective on the benefits of coworking spaces – seeing them from both a personal and commercial angle.
I’ve broken down what I think are eight of the biggest advantages of using coworking spaces over the alternatives, so you can understand just what’s on offer at flexible working venues such as TheSpace Coworking.
1. More flexibility
One of the most obvious benefits of a coworking space is that you have more control over how (and when) you work. Unlike a traditional office, you only have to pay for the amount of time that you want to spend in the space. If you know you only need one day a week in the office, you can book just that and avoid having the overhead costs of a full office for the other four days a week.
2. Cost-efficiency
Outside of the main financial flexibility benefit of only paying for the time you need, coworking spaces also come with other cost-efficiency benefits over traditional offices. The most important one for me is that you save on all of the secondary costs involved in having your own private office space, including amenities, cleaning, utilities, and insurance. With a coworking space, that’s all covered by one simple price.
3. Networking opportunities
Just by existing, coworking spaces attract lots of diverse businesses and freelancers, the perfect environment to casually network, maybe even building long-term relationships that’ll come in useful down the line. One thing that I really love about coworking spaces is that they also often run dedicated networking sessions or social events, where you can get to know the businesses you’re working alongside in more depth. Two members at TheSpace, Russ and Tim of Avery Brown run Linkedin Local Farnham so it’s a great way to get to know other local businesses.
4. Wellness and work-life balance
Wellness in the workplace and work-life balance are concepts that have both gained traction in recent years, to everyone’s benefit. Coworking spaces often have a lot of passive wellness benefits, from partnerships with local gyms or cafes for discounts to modern designs that create a more relaxing environment than old stuffy offices.
Read more about the benefits on offer at The Space Coworking in Farnham here.
5. Increased productivity
A traditional private office is very much a one-size-fits all approach to housing a business. If, like me, you can’t get motivated in uninspiring spaces, or you struggle to concentrate with regular office background noise, your productivity will suffer. Coworking spaces often alleviate those issues by being optimised for productivity, with quiet spaces and social hubs both provided. It’s also worth noting that, if you believe in the idea of equity theory, coworking spaces will inherently be more motivating than the alternative of working from home.
6. Reduced loneliness
If you’ve ever worked from home for an extended period of time (which seems likely, given the events of 2020), you’ll know that loneliness can creep in, even for the most dedicated introverts. While peace and quiet can be a good thing in a workplace, the benefits of being able to have a quick conversation with another human when you’re feeling isolated shouldn’t be overlooked. Coworking spaces provide that opportunity with communal spaces and social events.
7. No long lease
One of the main, and most tangible, benefits of coworking spaces over the alternative office solutions is that you escape the binding long-term leases that are common in traditional spaces. Especially in uncertain times, I find the freedom and flexibility of coworking spaces ideal. You leave yourself completely open to change, whether that’s moving to a new space, decreasing your usage, or switching entirely to home working to save on costs.
8. Chances for collaboration
I’ve already mentioned the long-term networking opportunities that coworking spaces offer, but they also provide a chance for on-the-spot collaboration with other professionals. Working in the same space as other businesses and freelancers, you open yourself up to the possibility to trade services for mutual benefit, get pro bono help from a new friend, or simply ask a fellow hot-desker for advice. You’d be surprised what can come about when you start talking to people in the space.
Choosing a coworking space as your next office
The benefits of coworking spaces are hard to ignore, especially for commuters who can benefit from a more productive place to work, or freelancers and small businesses owners like me looking for a way to achieve a more flexible operational model. If you’re looking for a coworking space in Farnham, get in touch with The Space Coworking to ask any questions you have or book a tour.
Who knows, you might even see me there! - Get in Touch
