There is a tremendous rise in freelancers, start-ups and entrepreneurs that prefer coworking spaces very attractive and cost-efficient. There are quite a few reasons that make coworking spaces the right choice for this gig economy. Coworking spaces offer fully equipped working space that you can rent without signing a commercial lease.
Today, the modern working force is seeing a massive trend in coworking spaces, with new ones mushrooming in various parts of the world. The latest reports suggest that we could reach out to more than one million workers through coworking spaces by 2022. There is a two-fold appeal to it, the affordability and the like-minded community.
However, any good option should be considered very carefully and one should consider the advantages and disadvantages of any new concept.
Pros to consider-
- Complimentary community skills: People who work in coworking spaces are more likely to find like-minded people in their workspace. It is a great place for professional networking as you find people who have valuable skills that could be useful for your profession. You can also build your client list in coworking places by offering your services to others.
- Professional structure: Coworking places offer a professional work environment that working from home cannot provide. Going to an office and having your own desk space keeps you accountable and also establishes a routine for you.
- Cost saving amenities and perks: Renting a fully-fledged office is much different than choosing a coworking space. A commercial lease requires you to sign long-term contracts. A coworking space can be hired on an hourly or monthly basis and even for the long-term based on your requirements.
- Company culture: If you love the professional working environment, a coworking space can be used as a foundation to establish it. Along with success comes growth and in a coworking environment, you can use it as a stepping stone for professional growth.
- Inspiration: A coworking space that fits you could be a place to network with others who stimulate you to work forward to meet your goals. The group culture and a shared sense of caring help you fuel forward.
Cons to consider:
- No privacy: This can be the ultimate deal breaker for some. The open style of the office space can get noisy sometimes and break the concentration. Some coworking spaces are lofty and lack acoustic furniture and sound barriers, making your work environment distracting.
- Competitors under the same roof: In a coworking space, it is most likely that you run into a person who can turn out as your competitor. If two individuals’ business interest is similar, it can soon turn into a conflict, leading to unhealthy competition. On the other hand, if these individuals are likeminded then it could turn out into a beneficial collaboration.
- Distinctive personalities: You have to consider that you are likely to meet different types of people and it is not necessary that you will get along with everyone you meet.
The Final Words
The idea of a coworking space is very appealing in many ways, especially for people who are starting a new venture and want efficient, amenity-filled and cost-effective workspace. So, if you are choosing this option, sit is best to consider all the pros and cons to help jumpstart your business.