Ever since the concept of coworking was first implemented in San Francisco and New York back in 2006, the coworking industry has experienced a huge growth worldwide. To the point where it isn’t strange for every kind of entrepreneur to choose a shared workspace as their HQ, instead of leasing a traditional office space.
Here are the top reasons why entrepreneurs choose shared workspaces:
No capital investment
Investing in private office space used to take up a big portion of any startup’s budget. Today, shared workspaces free up this crucial capital by not requiring that entrepreneurs make such a heavy investment from the get-go. Instead, they can choose from the many options available, one that fits their budget perfectly.
As their startup grows by hiring more people, entering new markets, etc., shared workspaces allow entrepreneurs to easily get the space they need without having to sign new leases or cramming people into an inadequate space until their current lease expires. All they need to do is to book the new spaces that they require, and they can have a bigger operation in no time. And if the expansion doesn’t quite pan out for your startup, you can easily take a step back and downscale your operation without being tied to a long lease.
Access to talent
Finding new talent for your business is simplified when you are exposed to fresh faces on a daily basis. This is precisely where shared workspaces excel, and a big reason why entrepreneurs choose to use shared workspaces. In such a space you are exposed to many freelancers and entrepreneurs who are open to collaborating and sharing their expertise with each other. This talent pool is much more organic and much cheaper than traditional recruiting methods.
Plug and play
A great thing about shared workspaces is how they are ready to be used without much setup needed. When compared to traditional office spaces where it could take months to adapt everything to your company’s needs, the benefits of using a workspace with an almost nonexistent setup are evident.
Shared workspaces also offer you more options whenever you need to utilize other office amenities such as meeting rooms, conference rooms and private offices. Some even offer extras like catering, virtual receptionists, and business services such as copying, printing, mailing, and faxing. Accessing all these options is as easy as booking them whenever you need them, and for as long as you need them too.