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11 Reasons Why Coworking Spaces Are Best For Startups

More people are seeking job opportunities in less traditional settings. The increased use of the internet has popularized living the digital nomad lifestyle, freelancing, and telecommuting. The possibilities of working from home for an entrepreneur who is venturing into a startup are higher than renting an office. But, the goodness of coworking overshadows working from home for startups. Access to like-minded entrepreneurs, growth-oriented resources, coworking communities, and convenient amenities assist startups in scaling. Here are the reasons why your startup has high chances of succeeding in coworking space than in the traditional office spaces.

01. Shared office space has improved facilities

Your home presents particular challenges to professionalism, such as disruptions and noise. A coworking space comes with all the things that you require to perform at your optimum. The office space has functional furniture, high-speed Wi-Fi connections, and plenty of power sockets. As such, you can efficiently work at shared office space and improve your productivity levels. Also, you may enjoy free snacks, tea, and coffee when working at a coworking space. Most facilities also offer startups meeting rooms when they want to hold meetings or talk with their clients as well as private office space for people who prefer working in a quiet environment.

02. Office workspace is affordable and flexible

Every entrepreneur knows how expensive it is to start a business. One of the highest initial costs for most startups is rent. As such, a coworking space is quite an attraction for most startups. These office spaces also offer startups an array of options to choose from, which also makes them a preferred choice. Renting a coworking space doesn’t entail extra costs for extras such as meeting rooms and internet services. Startups also don’t have to incur additional charges for purchasing office furniture. Also, coworking allows flexibility because startups are not tied to lengthy contracts, which makes it easier than with traditional offices to change to the needs of a growing startup.

03. Professional workspace.

Most startups are founded at home. Most people try to create an office in their garages. However, with time, you will have to get out of this kind of setup. Every entrepreneur understands the importance of first impressions. Therefore, you want a workspace that portrays some sense of professionalism as you hold meetings with your clients. Shared office space offers startups a professional environment or setting to discuss services or products, which creates an excellent first impression on clients.

04. Coworking allows startups to test the market

Statistics reveal that close to 50 percent of startups eventually fail within the first three years of operation. When you operate in a coworking space, you give your startup the chance to test its products or services in the market. It allows you to enhance the idea, understand the market needs better than before, or entirely change the plan if it fails to work. The chances are that you will spend a lot of money when you create your office space, rather than coworking. The risk of using a workspace is lower than renting your office and furnishing it.

05. Shared office space offer convenience

The other reason why startups should consider coworking rather than renting traditional office spaces is convenience. A coworking space takes away the worry and daily inconveniences of maintaining or managing office spaces. You can use the money and time used to pay and deal with general maintenance and office managers to grow your startup. Coworking spaces handle everything from water bills, facility management, and electricity bills, which offer startups with the opportunity to use their limited resources on developing startups.

06. Shared office space offers networking opportunities

Some of the most significant advantages of moving to workspaces are intangible. Startups should consider moving to shared office space so that they can get the chance to network with other entrepreneurs. Most coworking facilities offer startups with an area to break or take time out during working hours. Most entrepreneurs take advantage of these spaces to meet new people and other like-minded entrepreneurs to form new working relationships. Coworking communities also offer startups with an organized setting for networking, such as a semi-formal function that is vital for aspiring entrepreneurs.

07. Coworking offers a sense of community

The first few years of a startup are filled with excitement. But that doesn’t mean that you will not face anxiety and stress. While you may feel like you have made it because you own your private office, coworking with other startups prepares you to navigate startup roadblocks with ease as they arise. At a shared office space, entrepreneurs and other members share ideas and insights as well as offer solutions and help with everything, including pitch decks, marketing, and bookkeeping. Most coworking facilities put in place standards that make sure that only the best innovators within the sector join the community, which is advantageous to your startup.

08. A shared workspace is motivating

The other reason why your startup should consider coworking is the intangible feeling of motivation. A coworking environment offers startups with motivation and discipline that cannot be found when working from home or the garage. Several startup entrepreneurs suffer from lack of discipline and routine. They also find it challenging to shut out the distractions that come from operating from the house. A shared workspace offers startup entrepreneurs the chance to have a daily routine that is similar to when running from an office. The fact that you are surrounded by other motivated and successful entrepreneurs when working in a shared office space cannot be overlooked. Most startup entrepreneurs opt for shared office spaces because they increase their productivity significantly.

09. Workspace offer work-life balance

Studies reveal that quite a significant number of full-time workers face challenges managing their professional and personal lives. Startup entrepreneurs often express concerns about creating time for their social lives and getting enough sleep. A coworking space alleviates these challenges. Coworking challenges startup entrepreneurs to stick to a specific work schedule. While you may have to stay at the shared office space for a longer time than usual, at least you will not be working from a cramped home office full of distractions from kids, house chores, or pets. Coworking provides an opportunity for startups to work in a distraction-free setting where entrepreneurs can balance their work and social lives.

10. Shared workspace offers easy access to a talent pool

Startups require scaling up their ventures and hiring additional staff at some point down the line. However, when working from home, startups face challenges when looking for professionals to add to their talent pool. Working from a shared office space offers startups an instant solution to the problem of lack of a talent pool. Coworking spaces are filled with an array of professionals and the right professionals for the job position might be sitting next to you. Also, when there is a talent pool in the workspace, it saves startups time when they want to hire extra stuff. Besides, the entrepreneurs also have experience working with the individual, which makes the hiring decisions less risky than before.

11. Workspace mentorship

One of the reasons startups should join a coworking space is to gain access to a network of other experienced entrepreneurs. As an entrepreneur of a startup that is in its early stages, you need to connect with skilled and successful entrepreneurs so that you can learn from them. A coworking space offers startups with the perfect opportunity to get advice on their business operations. Secondly, most shared office spaces are operated by enthusiastic managers who provide information, assist startups in thinking through logistics, and advice in the right direction. Shared office spaces are also run as incubators and accelerators to support startups to grow by offering them the right tools for growth. Startups can use these resources to grow their business based on the development needs and stages, such as finding a mentor and applying for startup funding.

Final thoughts

So you are now thinking of being part of a shared office space? Well, there is no doubt that the reasons above will benefit your startup and create a professional and positive environment for you. A coworking space will allow your startup to grow and build networks that are vital in getting more clients than before and growing your business. Startups that consider coworking usually get a unique support system that assists them to scale up their ventures. With all these reasons as to why startups should get a shared office space, it is no wonder that an increased number of startups are breaking away from the conventional office environment.

If you are considering coworking, make sure you have an open mind and visit a few shared offices before you sign up for one. The real beauty of coworking is the flexibility of selecting the office space that suits your needs, and when you require it. Besides, what have you to lose by checking out a few shared spaces? Enjoy unmatched affordability, convenience by scaling your startup in a shared office space. A significant percentage of startups in the world opt to operate their ventures from home, but a home office may not be suitable for the growth of the startup. Coworking spaces are vital for your startup.