Top 6 Benefits Of Coworking You Probably Don’t Know About
Coworking is a style of work that was first started in 2005. It has been steadily growing in the past few years, with a common estimate showing that the amount of coworking space is doubling each and every year. We have consistently discussed coworking on our platform and there is most definitely a good reason why: coworking is thriving all around the world. To understand what exactly coworking is, check out our previous article: “Is Coworking More Than A Buzzword?”
To understand why this popularity is the case, we need to only look at the many benefits coworking space brings to the table. The very nature of this style of workspace allows for possibilities that are rarely, if ever, found in more conventional workspaces. These benefits are, but not limited to:
Being perhaps the biggest draw of coworking space– the potentially rich environment of a coworking space, often having many different yet equally incredible talents under one roof – the coworking community is a powerful resource to tap into. The person sitting right in front of you may just be that one UX/UI designer you have been looking for to better your site. Your fellow coworkers are most likely willing to help and even collaborate. If you are ever in doubt, community managers are always there to assist you. They are your go-to person if you ever need help in finding certain talents or connections.
Most coworking spaces also hold regular networking and community-based events. All of which are amazing opportunities for you to expand your network and meet new people. The more innovative coworking spaces hold lunch-and-learns and mini training sessions to upskill or keep up with the latest skills in each industry. Some even provide free workshops held by industry experts for their members!
Aside from the pragmatic benefits, remember that such a community is also a great opportunity to meet like-minded people. As corny as it may sound, a coworking environment does foster connections that may go beyond our traditional notions of what colleagues are.
Communal and private work space
That being said, a coworking space does not necessitate a particular style of work that you have to follow. These spaces are often equipped with facilities that cater to both collaborative work and more head-down, quiet time. Breakout areas are often provided for those who seek to work alone or to be less distracted. To address a common misconception, coworking does not equal constant socialising.
In most coworking spaces, the choice is always yours.
Flexibility of lease terms
Another huge benefit of choosing a coworking space is the flexibility it provides for businesses to scale up or down depending on your business growth. Coworking spaces have relatively short-term leases in terms of months. Common lease terms can range between three to twelve months. Some even offer monthly lease renewal. This means your business is much less restricted to a single workspace as shorter leases allow your company to move out and expand whenever it grows instead of committing for years to a single space. When the size of the company grows, your space grows with you.
This flexibility is also very much possible within the same coworking space. Many such spaces are equipped with different types of offices. The most common ones are hotdesks, fixed desks, and private offices. These three main types accommodate different companies with different needs, or a single company with changing needs. Hotdesks and fixed desks work on a per person basis, while private offices usually cater to larger teams. Every coworking space has different capacities and different types of available offices, but fret not, our team of experts is ready to assist you in finding the perfect office space for you and your company.
Working culture & personality
Coworking comes in much more variety than traditional corporate-style offices. Due to their very nature of being communal, many of these spaces have human-centric design with the aim of providing the best possible working environment for their specific target demographic. Expect different coworking spaces to have different interior design, available amenities, and overall vibe. Looking for a professional, high-end coworking environment? Select coworking spaces with a good reception service. Want to make coworking not just a workplace but a lifestyle? Choose coworking spaces that have the provision of a gym or swimming pool. Do you thrive in a more artistic or creative environment? Seek out coworking spaces that have art or photography studios.
We are spoilt for choice as the culture of coworking grows. There are coworking spaces of various culture and personalities. From formal to casual, homey to luxurious; you can find a space that suits your needs.
Not to forget the most pragmatic of reasons, the cost of renting a space in a coworking space is generally lower than traditional offices. This can mainly be attributed to the shared nature of the workplace.
Although having meeting rooms is an integral part of any company, global statistics from teem.com shows that on average meeting rooms are only used 4 hours per day, and that is inclusive of large corporations which use meeting rooms much more frequently than small and medium-sized businesses. For these relatively smaller businesses, it doesn’t make the most sense to invest in such expensive equipment when the ROI is relatively low. This is where a coworking space comes in.
Many of the available amenities such as fully equipped meeting rooms, printing services, refreshments, nap rooms and breathing spaces in these spaces are shared with every user of the space, whether you’re a freelancing hotdesker or working in a private suite. This will greatly reduce your Capex since you will not need to invest in high-end equipment, which is especially beneficial if you’re a relatively smaller team.
Another benefit that may not be immediately obvious is actually the location of coworking spaces. Due to its communal nature, many coworking spaces are located in very accessible areas reachable through public transport. Most also have parking facilities.
As we move towards a world increasingly dominated by sharing economies, such as Airbnb, oBike and Grab, it is therefore not surprising that workspace is the next asset to be shared. With the many benefits, coworking has repositioned itself from being an alternative style of work into one that is more mainstream. If coworking sounds attractive to you and is a new concept for you or your business, we encourage you to test it out with free trial passes we provide. Check out GorillaSpace to find the coworking space you would like to try out. Get a real feel of the space through the authentic panoramas we provide.
We believe every space user deserves the best possible workplace for their own distinctive needs. With our substantial catalogue of coworking options, we are confident that you would be able to find one that is perfect for your needs.
Still can’t find the space you’re looking for? Do not hesitate to contact our team of industry experts by calling us at +65 3163 6839 or leave us a message at GorillaSpace.co.