Have you ever used a coworking space? Coworking can be defined as the sharing of office space by independent, self-employed professionals who want to work in a collaborative, communal setting. In fact, this type of setting has a lot more of advantages than you may have ever thought. The truth is that coworking spaces are ideal for entrepreneurs.
The benefits of being a self-employed person are well-known. For instance, you are your own boss, you choose when to work, and you have the ability to reduce business expenses. Self-employment has resulted in a huge demand for the coworking space. It is estimated that coworking spaces in Atlanta enjoy about 22% growth per year. Are you aware that top tech companies such as Instagram and Uber were developed in coworking spaces?
Depending on your family situation and finances, you will realize that working from home is quite advantageous. However, it may leave you isolated or subjected to distractions that affect your productivity. Therefore, if working from home is no longer suitable but you cannot afford the traditional office space, it is time you learn about the benefits of coworking spaces.
Ideal for Startups
Renting traditional office space requires signing of a lease of about five years. Depending on relevant laws and the agreement you have with the leasing company, breaking out of the lease can be expensive and difficult. This is the case if that space is not in demand.
As far as coworking spaces are concerned, space is rented by the month. You can find providers offering yearly, monthly, or daily options. From the cost perspective, these spaces are ideal for startup entrepreneurs who want a professional workspace without long-term commitment and upfront costs.
Another important advantage of the coworking spaces is the ability to avoid private office space costs such as utilities, furniture, appliances, and extra lease service charges. Also, finding the right private office space can be time-consuming. Usually, a coworking space will include a desk, chair, high-speed internet, bookshelf space, printer, conference room, and free coffee.
Another benefit of coworking space is fewer responsibilities as compared to a traditional private office. The management is responsible for the cleaning and maintenance of the premises. The nature of coworking also simplifies tax preparation and accounting since all services are consolidated.
Ideally, coworking helps ease the process of starting a business. Also, it offers the flexibility required by a growing business. You are free to add team members at any given time without extra costs.