The Benefits of Coworking Spaces

The rise of the internet has brought in its wake a fundamental paradigm shift, on a never-see-before scale, in every imaginable aspect of our life in general, and in the way we work in particular. We are still trying to come to terms with the changes it made and with the possibilities it implies.

One of the most recent (and talked-about) changes in work culture is the soaring popularity of coworking spaces. The concept is ingeniously simple, offering many benefits. Here are some of the benefits of coworking spaces for employees and organizations alike.

1. Productivity

1. • Coworking space means being surrounded by hard working professionals. This atmosphere is very conducive to boost motivation.
   • Coworking spaces are optimal for increased productivity through the reduction of the administrative tasks that take many resources when operating in traditional offices, and allowing companies to focus on their projects.
   • Coworking spaces are usually situated in central locations. This makes the workspace accessible and very convenient for work or meetings.
   • Coworking spaces are less stuffy than “legacy” offices, but without the danger of temptations when working from home (where the fridge, the bed and the TV are very close).

2. Networking

People who work from homes, or freelancers who work in coffee shops, often report that they’re missing out on the chance of meeting and interacting with like-minded colleagues. And by that, they risk missing opportunities for collaboration and growth. Coworking spaces typically host several companies of various sizes, thus offering the possibility of interacting as well as having informal discussions with other people with different skills, from different backgrounds. This can lead to new business opportunities.

3. Flexibility

Freelancers and small businesses can’t always provide the funds necessary for long-term leases. The coworking work culture comes with numerous membership options, which let every business select what works best for it. There are monthly, daily and even hourly plans. Every member can set his or her own schedule and work whenever they prefer.

4. Scalability

While the “traditional” office requires a long-term lease with little or no flexibility, a coworking space provides the ability to easily scale the working teams up or down, in accordance with the business fluctuation – just procure additional seats in a location that already provides all the necessary infrastructure.

5. Cost-effectiveness:

Setting up an office is a big investment, and it is a heavy burden to put upon the shoulders of young startups or new businesses. Coworking space is the best way to have an office with minimum expenditure. Forget the headache of dealing with utility bills, repairs, service providers, etc.; the coworking space provider will take care of all that and you can invest more time and resources in developing your business.

6. Promoting wellbeing:

It is a self-evident truth that a healthy and happy worker is more productive. Coworking spaces provide an environment for keeping a healthy work-life balance. On one hand, there is a separation between home and work; on the other hand, coworking companies offer many amenities for bolstering wellbeing. These may include Yoga classes, on-site gyms (with personal trainers), reading rooms, and even meditation pods.

7. Budget Stability:

Any small business or young startup, which operate usually on a tight budget, would find it extremely helpful for their day-to-day operations, as well as for their business plans, to have predictable expenses, overhead, etc. In a coworking space everything is included – from printer ink to coffee filters, not to mention high-speed internet and other utilities.

Coworking spaces have come a long way since their inception, and they show little sign of slowing down. The latest estimates are that by 2020 we will see more than 26,000 coworking spaces around the world, with enough scope for further development.