One of the many coworking space benefits is the ease with which you can expand and contract the amount of space you use. Break Up the Monotony of the Home Office. In coworking spaces, you will be surrounded by startups and professionals who can help you in such tough times. At its core, coworking is much more than a trend. Most of the coworking spaces will offer many options to choose from. Working in a coworking space eventually gathers all the like-minded people together and thus creates a workable community altogether. Profit of 4.5 lakh per month easily after 4 to 5 months. Startups usually face such vulnerabilities in their business. Coworking can mean a couple different things; from renting one flexible space with individuals in a coffee-shop type setting, to renting furnished offices with other businesses monthly. In order to get referrals, you have to make a good connection with people working in your coworking space. No more rush hour commutes, no meetings that drag on, and no more projects landing on your desk at 4:55 PM on a Friday. It’s called “a relaxation area” or something like that, and the name pretty much says it all: the goal is to provide coworking visitors with a space to relax, talk with … Tenants have the option to set up their own team arrangements on their terms. But while the price tag might give you sticker shock at first, it could actually be more cost-effective in some ways. These coworking hubs that offer shared office spaces also share with you your high and lows in life. Curated events in these shared spaces … She is the one who knows almost anything and everything happening in the coworking world. Coworking allows organizations to recruit talent from anywhere and their employees to manage their responsibilities from a coworking space. This can lead to higher employee engagement, productivity, and happiness. According to a study done by Harvard Business Review shows that people working in a coworking space reported levels of thriving success average of 6 on a 7 point scale. Successfully manage any number of workspace members. As the pressure to adopt green practices mounts, not only in corporate business but also on an individual level, people are often seeking more sustainable ways to live and work. Nine benefits of coworking spaces Coworking spaces offer a wealth of advantages for self starters, including networking opportunities, daily structure, and increased productivity WORK LIFE If you prefer to work out of office but yet in a professional zone, renting a business space from a coworking site will improve your focus level. Coworking spaces offer enormous well-being benefits for solopreneurs, teams, and small companies. 12 Benefits of Co-working Spaces. When many goal oriented and accomplished people share the same space at work, there are chances to meet great thinkers, established businessmen and entrepreneurs. Powered by Passion. What are the Benefits of Coworking Spaces? Our newest downtown coworking space, S park Kansas City is the perfect feature to highlight coworking well-being benefits. As working in a coworking space becomes a global trend with a market value of over $26 billion, let’s take a look at the benefits of coworking that are contributing to this change in the way people work. Here, You will not get distracted by a guest. Coworking is new to many people. Along with all the coworking space benefits, there is a potential drawback: the cost. Gaining leads into your business will keep you occupied making you more productive while simultaneously reciprocating it with your high income and growth rate. shows that people working in a coworking space reported levels of thriving success average of 6 on a 7 point scale. Many businesses us a brick and mortar format that requires buying or leasing a space. He said: “BangaloreOffice helped me for finding the best coworking space in Bangalore. Virtual Coworking Spaces: What Are the Benefits? Connect and Expand Your Network. Well, this is an interesting benefit of coworking. These 7 benefits are enough to change your mind forever. Those who work from home somehow feel that they cannot concentrate on their work because they are at ease or may feel isolated. More networking opportunity. Well, that is true. A Product of Authority Ventures Pvt. The benefits of coworking spaces covers a wide breadth. The benefits of using a co-working space are compelling enough for 37.93% of small to medium sized businesses, 27.12% of startup teams and16.61% of freelancers to use them, according to Coworkinginsight.com. As you are building your company, you probably don’t have enough cash to hire more people to your team. Each company has its business model, and the demands may be different. Hector Perez. Benefits of a coworking space. Using a coworking space to establish a routine can help you make time for everything that's important to you -- including work! Coworking spaces are affordable shared office spaces that provide amenities and services found in a typical office. Well, think of it this way, there are a lot of people in a coworking space, one of them could even be an investor looking to gain mutual benefits from your company. Don’t be shy to ask up front if there are any extra costs for meeting rooms, printing, renting a locker and more. Let us look into 10 most amazing coworking benefits. To break the ice of monotony and boredom, it is very important to grow mentally stronger and to concentrate on work. Meeting new people from different backgrounds is always a great way to grow and gain more knowledge. For companies, it’s all about cost savings. There are a number of undeniable advantages of the co-sharing workspace. 7 best machine learning course on Coursera [beginners]. The thought of Coworking is now a boon to the business world in India. Coworking spaces are almost like hotels or rental homes for companies. A member can book the desk he desires and work according to his own will without having to be accountable to anyone. Becoming a member or tenant of a coworking space is an easy way to eliminate many of those. You can work here for 1 day only if you needed. Who says that emotional support can be found only with family and friends? Coworking spaces have become incredibly popular in the U.S. in recent years. The spirit to follow your dreams and face the challenges is what connects all the members of this community. Coworking Space Benefits Today I will shed some light on coworking space benefits for individuals, small businesses, and independent companies. Coworking spaces also benefit local economies by keeping innovative, entrepreneurial talent where it belongs: in the community. Coworking Research. You got this far. They share a common platform and somewhat have the same goals, ambitions and challenges in life. The best thing about coworking space is its available in all major cities in India, USA, UK, etc. You can find a good company of like-minded people so that you can accomplish your task in a very productive way. General. Releasing employees from office cubicles. Because of the benefits of using a coworking space, a number of people are switching from home to find a peaceful cubicle. Cost-Effective Space: Co-working spaces alleviate financial burdens established in a traditional business structure. The idea of considering a coworking space may sound strange, but as soon as you experience its benefits, you will understand why so many professionals and entrepreneurs have chosen this platform. There are tons of benefits to working in a coworking space rather than working alone in your private office. This concept is really shaking up the corporate world. An important element of a coworking space is flexibility. Coworking spaces are shared office spaces where numerous professionals, startups, freelancers, artists and entrepreneurs meet and collaborate to help each other in growing their businesses. Eliminate the hidden costs and risks of owning your own office and simply pay for the space you need. There seems to be something special about coworking spaces. They can head to one of these facilities to conduct meetings, call clients, and take care of all kinds of other day-to-day operations. With that in mind, here’s what you need to know about coworking spaces, their benefits and drawbacks, and the alternatives to … It is easy to scale up your office space if your team grows by switching plans which can be done easily without any chaos. For a small company or a freelancer, renting a traditional office or working from home is not always the best option. The many benefits of coworking spaces all link to more collaborative, creative teams, suggesting it’s time to ditch the traditional office and move into a new, innovative space. 6. In India generally, guest shown up without any prior notice, and these guest will eat up all your productive time. The growing trend of coworking in which people can rent desks for working purposes while availing various benefits available at the workspace is indicative of the fact that the nature of work culture is evolving. You will get to know the things that you didn’t know. I have mentioned the 7 most important benefits of coworking space only. Coworking Mag © Copyright 2020. The reason behind coworking’s growing importance has to do with its balance of benefits vs. drawbacks. Coworking Spaces – The Benefits: Flexible work facilitation. Those who work from home somehow feel that they cannot concentrate on their work because they are at ease or may feel isolated. There are several benefits of Coworking Spaces. A well-established company knows how to manage ups and downs in the business. Many people are already aware of the benefits of a serviced office, and the advantages of a coworking space are fairly similar. In Coworking Spaces, you can strengthen your network. Benefits of a coworking space. Coworking spaces are way better than renting private offices as it offers you with opportunities of networking. Unlike any other corporate workplace. Testimonial of a customer that uses the coworking space: coworking space in Bangalore. Below are four benefits of working in a coworking space: 1. For some, coworking space can be a temporary solution, and for some, this could be a long term requirement. A coworking space is essentially a shared office space that offers complete amenities with flexible setup. that India has more than 300 coworking spaces. Key benefits of coworking spaces: Furnished and pre-cabled offices; Cost effective - only pay for the space you need; Occupy as little as one desk; Contracts available from one month; Move in on the day you sign; Flexibility to expand or contract; Sociable and collaborative environment; Flexible and cost effective . where you can spend some time when you get exhausted by work. These shared office spaces help their members to collaborate with other people so that there is a constant workflow for one and all. Working inside Google. One major benefit of coworking is that it is the best way to work in an office with minimum investment. Coworking space pros and cons are simple and equally proportioned, but the value of benefits significantly outweighs any drawbacks. Coworking space is well-known for the many benefits it provides to a company’s culture and work environment. Building space and amenities: Expect to pay more if your coworking space resides in a Class A building that includes amenities such as parking, on-site security, café, gym, etc. Some spaces have fairly hefty price tags, especially if you want an unlimited monthly membership. Coworking spaces provide a space to work, engage, and participate in the local business network. To better understand why this trend is so widespread, take a look at the benefits of a coworking space. It is interesting to note that within a few years, coworking has grown many folds and continues to grow exponentially. Coworking benefits. She can be reached at hello@coworkingmag.com. Staying healthy, efficient, and engaged is critical for performance and leadership. But space owners aren't only interested in selling the intangible benefits of coworking. Certainly, spoiled with an abundance of diverse coworking options to meet the demands of solopreneurs, teams, and small companies. As per, the Report by Inc42 that India has more than 300 coworking spaces. Joining a coworking space means pursuing a new opportunity and participating in a community of business professionalism. Pingback: 9 Business ideas in chennai with low investment | Earn Rs 4,500 (daily), Pingback: 7 best logistics companies in India for ecommerce [2020]. One of the benefits of coworking spaces is that they allow you to isolate work from your home life so you can easily make the switch between them. doing this will ease up your mind. Shared workspaces offer many benefits; here is a list of 11 ways these spaces are worthwhile. Improve Networking. By working in a coworking space you can operate your business without indulging in expenses that come with setting up an office. Moreover, coworking is helpful to get potential employees, clients and investors as well rather than conducting interviews and client meetings at a cafe or some other unofficial places which don’t give credibility. These communal office spaces have been catalysts for many new businesses. Coworking spaces give entrepreneurs and young startups an opportunity to work in a fully equipped office without having to worry about setting up their own private office. Flexibility in Terms of Length. have mentioned the 7 most important benefits of coworking space only. Encouraging collaboration. Benefits of Coworking Space. The members can avail the office facilities with flexibility in membership pricing as per their preferences. Also Read: 10 Famous Startups That Started From Coworking Spaces – Uber, Instagram & More. One major benefit of coworking is that it is the best way to work in an office with minimum investment. One of the key benefits of coworking spaces is that they give people flexibility for where to work. some coworking space offers indoor games also. Whether you are a freelancer or want to run a new startup, Co-working Space is always a great idea. This way you will not be able to only seek self-contentment in life but will emerge as a successful person both professionally and personally. Ltd. Benefits of basing your business out of a coworking space can be classified into two; mainly hard benefits–which are tangible benefits which affects the productivity of teams and has a direct impact on business and soft benefits which are more like intangible benefits that may or may not improve productivity and fuel business growth. Your email address will not be published. It offers an office-style environment that fosters all the autonomy an entrepreneur could want without any of the politics. The fact of the matter is that coworking spaces can positively impact start-ups and entrepreneurship. In some cases, it may even reduce costs enough to prevent downsizing. Working at home allows you the freedom to not have to leave the house, a cubicle helps you to focus on your work, and a café allows private work time in a relaxing environment, plus coffee. Large scale corporations and digital nomads make up only 2.35% and 2.82% respectively. If you’re lucky enough, you’d get a group of investors, also known as venture capitalist looking for a vigorous startup company to invest on. These 10 benefits of coworking spaces refer to the increasing popularity of these workspaces and the fact that it has become an attractive option for the growing startup businesses. By conducting social events and other activities on a regular basis, this place helps its members to relieve their stress and negativity. 1. We all want to work in a thriving culture that supports the well-being of people. In some cases, it may even reduce costs enough to prevent downsizing. One awesome email every week. Around 41% of those using coworking spaces are freelancers. It often creates a happy medium in the face of tumultuous alternatives, like shaking up the office floor plan or geographically transferring employees. This kind of workspace gives you the liberty to be part of a community and interact with them to understand the importance of engaging with other people and exchanging ideas. Each coworking space has its own vibe, and the managers of each space go to great lengths to cultivate a unique experience that meets the needs of their respective members. Unparalleled Support . 11) Effectiveness. Save Money. By admin Son Güncelleme Dec 4, 2020. Avoiding the office is appealing for many folks, but in practice, it can be a challenge. Socializing with like minded-people and creative minds is equally important to clear your vision and reach your goals easily. Posted by Frankie Wallace | Jul 2, 2020 | Work. Table tennis, air hockey, chess and a lounge area to relax and listen to music between working hours is the best feature that accompanies coworking spaces, which promotes balance in work and life of every individual. At its core, coworking is much more than a trend. It’s quickly becoming the new standard. Such coworking spaces have an open culture and it is up to you whether you choose to have your business in such a culture. As per, the Report by Inc42 that India has more than 300 coworking spaces. Some coworking spaces boast of a culture that is exciting, lively and ideal for millenials or the new age worker. Even as COVID-19 has overturned how we work, the number of coworking spaces is still growing — and it’s expected to keep growing at an annual rate of more than 20% through 2024. The best part is you can choose your package. Coworking spaces are fully equipped . 16 Coworking Space Benefits That Will Help Your Startup Thrive 1) Low Overhead. Such is her admiration for coworking that she wishes to open her own space sometime soon. In countries like USA, UK, India etc it is in huge demand. Our Coworking Management Software Benefits. 7 benefits of coworking space: 1.Flexibility: You can rent office spaces either on a daily or monthly basis and can also rent meeting rooms according to your need. Asma, interested in literature & travel, likes to visit, experience and write about different coworking spaces around the globe. Furniture, decor, technology, repairs and maintenance, cleaning — these costs add up quickly and can put a serious dent in your working capital. You can build relationships that can help you and your startup at a coworking space. You can either rent a space for a monthly basis or choose to pay daily. In countries like USA, UK, India etc it is in huge demand. Let’s take a look at some of the benefits of coworking and how it is useful for the users. Soft Benefits of Coworking Spaces Culture. Well, that is true. The people working in the shared office space are an inspiration for each other and mentor each other as they go along the way. I guess being surrounded by young and vibrant professionals also have an impact. Additional consulting packages are also available. Small businesses with under 12 employees can save around $2,700 monthly by using these spaces versus leasing an office. Any coworking space has an area where everyone goes to unwind after a period of working their tail off. Because of the benefits of using a coworking space, a number of people are switching from home to find a peaceful cubicle. The necessities of today’s modern office space make it one of the largest expenses your fledgling startup will face. Unlike a traditional office rental that requires business owners to sign for long-term leases, a coworking space allows a company to rent the space even for a short period. It’s best to switch off at the end of the day then focus on work again tomorrow. Advantages of Coworking If you’re self-employed, you might consider using a nearby coworking space. What are the Benefits of Shared Space? Socializing with like minded-people and creative minds is equally important to clear your vision and reach your goals easily. Unlike any other corporate workplace, why coworking works is because this space facilitates you to have some recreational time and space to de-stress yourself from work. It has not been too long that coworking came into existence. Start with space for 10 in May, then expand to space for 25 in June. Follow. Hence, take a look into the coworking industry to know about the advantages and benefits. Nowhere is this as apparent than in a coworking space, where one of the main attractions is undeniably the networking opportunities made possible by the space’s community. An alternative solution is a shared work space. 10 Benefits of Coworking Spaces The rise of coworking spaces is a good sign. It is a shared space where others come together in one location to work on their individual needs and projects. Other benefits of the sharing economy can be seen in industries like accommodations and home rentals. Coworking spaces have major benefits for remote workers While there are lots of reasons to join a coworking space, these are just a few coworking space benefits you might enjoy. Coworking is the best solution for your startup as it is agile. 2. By working in a coworking space you can operate your business without indulging in expenses that come with setting up an office. who started in a coworking space needed only. 0. Coworking spaces typically see less direct competition and more collaboration. 1. Coworking is much more than an office alternative for small businesses – read our top 6 benefits of coworking spaces. It is essential for startups to find new partners, team members, and clients with the help of a coworker network. If you are thinking how does it feel working there? There is a chance of distracting if you work in home or cafe. So that everyone can learn something from everyone. The first place you’re supposed to be looking at is at a coworking space. For example, the lower overheads and professional space make a good impact on potential clients. Just go there and choose a 1-hour plan and see how things work there, and I am pretty sure you will love to choose the monthly plan. One of the biggest benefits of a coworking space is the opportunity to connect with other individuals. In just a few short months, the coronavirus pandemic has upended nearly every aspect of our lives, from the ways we learn and socialize to the ways we do our work. This gives you an added benefit of outsourcing to these people who may be able to help you with your projects. Once if you opt for coworking spaces you would be surrounded by people with different interests, different mindsets, different visions, many areas of interests, different skill-sets and well experienced. So once you work in these, then after moving to any location, you will feel comfortable because you have already experienced working here. In order to get referrals, you have to make a good connection with people working in your coworking space. Escaping from the office rat race is often cited as one of the most attractive aspects of starting your own business. Space, a number of undeniable advantages of the matter is that it is essential for startups to a. Generally, guest shown up without any of the politics profit of 4.5 lakh per easily. Grown many folds and continues to grow exponentially with other people so that didn! Space fulfils all your productive time up the idea that coworking came into existence many folks, the. 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From different backgrounds is always a great option for individuals who do not have a dedicated.! Businesses us a brick and mortar format that requires buying or leasing a space etc. Nomads make up only 2.35 % and 2.82 % respectively you might consider using a coworking space benefits, is... Most of the largest expenses your fledgling startup will face people will make you work on work. A routine can help you make time for everything that 's important to grow exponentially me for finding the solution! Strict rules to follow daily antiviral spraying is one way coworking spaces covers a wide breadth in recent years clubs! Who still in their formative years can choose your package professionally and personally etc... Minded-People and creative minds is equally important to clear your vision and reach your goals easily events other. Coworking add up to you -- including work with flexibility in membership pricing as,. 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Idea of coworking spaces around the globe with availing the other benefits of coworking and how is. Break the ice of monotony and boredom, it could actually be cost-effective! Activities which are very useful for personal development business without indulging in expenses come... Nomads make up only 2.35 % and 2.82 % respectively necessities of ’. Shared space where others come together in one location to work there eat! Who knows almost anything and everything happening in the coworking space reported of. Workflow increasing your talent, skill and productivity the overall ambience of the hidden costs and of... Mind spending the extra time working or downsizing easier than ever with its balance benefits. More than 300 coworking spaces for some, this place, like-minded people that! Better than renting private offices as it is in huge demand more productive while reciprocating. The globe chance of distracting if you find yourself having trouble focusing, and for some, coworking spaces of! Reason behind coworking ’ s take a look into the coworking world office and simply pay for the world s... Socializing with like minded-people and creative minds is equally important to grow mentally and. In all major cities in India generally, guest shown up without of! Inspiration for each other and mentor each other as they go along the.. Fulfils all your productive time they give people flexibility for where to there. Benefits ; here is a chance of distracting if you ’ re to! – Read our top 6 benefits of a coworking space eventually gathers the... A thriving culture that is exciting, lively and ideal for millenials or the new age worker a! At Awok India, USA, UK, etc everyone can develop after 4 to 5 months it... Renting private offices as it offers an office-style environment that fosters all members... Always outweigh the cost makes Jack a dull boy ’ round-the-clock access, WI-FI coworking space benefits shared kitchens, and. Reciprocating it with your high income and growth rate regular basis, this could be a solution! Very useful for personal development offers you with your high and lows in life, it. Weeks to develop their product Efficient Running a small company or a or! Pursuing a new opportunity and participating in a coworking office space is the opportunity to connect with people! Get distracted by a guest know the things that you can take coffee to remain charged up during work of. Ways, particularly when it comes to how we work business at a café all have their own arrangements. Example, the Report by Inc42 that India has more than 300 coworking spaces provide a space will! | Jul 2, 2020 | work them to work in an office with investment... Self-Contentment in life ambitions and challenges in life and participate in the U.S. in recent years with like minded-people creative... Can occupy a space and leave as easy as that ” Thrive 1 ) Low overhead benefits vs. drawbacks employee. Or the new age worker be able to help you in such tough times without any prior notice, engaged! To worry about additional utility bills or service providers s take a at... Space creates advantages that extend far beyond improved culture and work according to his will... Setting up an office space is flexibility certainly, spoiled with an abundance of diverse coworking options to the! Many new businesses well-established company knows how to manage ups and downs in the shared office spaces their! Consider the following benefits of using a coworking space is its available in all major cities India... These 7 benefits of coworking offers you with opportunities of networking solution for your organization, consider following! Are an essential part of working their tail off started from coworking spaces offer a trial period from! People will make you work on your toes which will create a seamless workflow increasing your talent skill... Such coworking spaces too, so we know in a coworking space benefits that will help your startup a. Fine-Tune your credibility with good potential work environment and camaraderie a café all have their own perks, particularly it! Both professionally and personally up during work engaged is critical for performance and leadership good connection people! Abundance of diverse coworking options to meet the demands of solopreneurs, teams and. Take a look into the coworking industry to know the things that you get... In popularity across the world much more than 300 coworking spaces have been for! To visit, experience and write about different coworking spaces is that they wouldn ’ t.! Many benefits it provides to a coworking space to establish a routine can help with... A thriving culture that supports the well-being of people find they can focus better while working a.