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How Can Coworking Benefit My Small Business?

Posted on Jun 15, 2020 9:00:00 AM by Ryan Ring

How Can Coworking Benefit My Small Business? | 580 Executive CenterRunning a small business can be a difficult task. As the owner, it can seem like you spend most of your time putting out fires. In order for your business to grow you need to step away from reacting to problems and engage in proactive planning. You need to take intentional steps in order to get your small business on the path toward success. This means looking for things you can do to benefit your small business and the people who work in it. Coworking is something that can help your business if you are willing to try it out. Coworking can benefit your small business by reducing overhead, increasing flexibility, and improving the work/life balance of your employees.


Reducing overhead

What does it cost you to rent an office space? How much do you pay for electricity/internet/water/exterior maintenance on that office space? There are also other elements like furnishing and decorating a space that can drive up costs. Coworking can benefit your business by providing a less expensive option. You can have significantly lower overhead costs if you choose to use a coworking space instead of a traditional office. Many of the costs you have with a traditional office simply are not a concern at a coworking space. If you are looking for a way to reduce the overhead at your small business, consider coworking for you and your employees.


Increasing flexibility

Coworking can increase the flexibility that you have in your small business. Traditional offices often come with traditional leases. Commercial leases can be several years long and lock you into a space that may not work for you in the future. With coworking, you have the flexibility to change and expand without having to worry about how that will be hindered by your office space.


Improving work/life balance for your employees

Allowing the employees at your small business to work from home can help improve their work/life balance. A coworking space nearby can reduce the commute for your employees. The flexibility to work during non-traditional hours can allow your employees to see their family more often. Working in a coworking space gives your employees the ability to provide you with high-quality work on a schedule that fits around the most important elements in their lives.

Less overhead means more money stays in your business (or your bank account). This change can help your business move forward toward goals that seemed out of reach before. Increased flexibility means that you can make decisions about your business based on your goals and not on its physical location. An improved work/life balance for your employees means happier employees who are more likely to stick around. Coworking can do wonders for your small business.

Why Co-working Spaces Promote A Healthy Work-Life Balance

Topics: Coworking