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Should Start-ups Use A Co-working Space?

Posted on Apr 29, 2019 9:00:00 AM by Ryan Ring

Should Start-ups Use A Co-working Space? 

 

The “working world” is not what it used to be. It seems that every year, less members of the workforce are interested in jobs in well-established gigantic organizations in which one climbs the corporate ladder in the hopes of achieving some future success and security. More people are seeking work that’s more personally fulfilling, and that often means working in a smaller organization. New startups are popping up all the time, and it’s no secret that some of them have grown into some of the most important and influential companies in today’s economy.

 

Startups tend to do things differently, and this includes their ways of thinking, the structure of the organization, and even their physical space. Many startups begin working out of the owners kitchen or basement, but once the company outgrows that space, what’s the next move? Co-working spaces are an excellent solution for many startups. Here’s why:

 

Cost

 

Of course, no work space is going to be as cheap as using your own dining room table. But no one wants their business to stay small enough to work that way forever. Sooner or later you’re going to need more space, and there are few things that can set back the budget of a startup worse than taking on a big rent payment to lease its own office. Using a co-working space gives you a full-featured professional office, without the expense of leasing your own space.

 

Scalability

 

Startups are all about growth. Many start as a one-person shop, then add a few key people, and then expand to include more staff. You’re going to need space for everyone to work, and it’s not always possible to predict how quickly you’ll be adding more staff. This makes it difficult to commit to leasing an office, which is typically going to be a long-term commitment. You don’t want to sign on now to pay for more space than you really need. Renting an office that doesn’t leave you room to grow can become a functional disaster. Co-working spaces typically only require a monthly commitment, so it’s easy to add more desks as you need them, when you’re experiencing a “growth spurt” or just need to add more staff for a particular project.

 

Productivity

 

Letting your employees work from home can be an excellent way to keep costs down, especially for a small organization. But it’s not always optimal for your productivity, as people work amidst the distractions of their homes, families, pets, and more. Co-working spaces offer an excellent compromise, getting your staff out of the house and into a professional setting, at a much more affordable price than leasing an entire office of your own.

 

Networking

 

Networking is one of the most essential activities for a budding startup. There are few things that are more important than forging new business and creative relationships. Working from home can be isolating, and makes networking a bit more challenging. In a co-working space, however, you’ll be rubbing elbows with other professionals. Even if they’re not in a field which directly relates to yours, networking opportunities still abound.

 

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

Topics: Coworking