The Pros And Cons Of Coworking
Coworking has become a global trend in today’s business world. From New York City to Seattle, from Berlin to Amsterdam, from Singapore to Shanghai, you can see new coworking spaces being opened on a regular basis. Small businesses, young entrepreneurs, tech startups, distance workers and freelancers are the major crowd who prefer coworking to traditional offices. Coworking obviously has a lot of benefits and advantages, but it is not a perfect solution either. If you are still wondering whether you should move your business to a coworking space, this article will help you in making a decision! We have done research in the benefits and drawbacks of coworking and summarized some key points for you.
Flexibility In Membership With Usually Lower Prices
One of the most important features of coworking is its relatively lower price as compared to normal offices. Coworking space providers get good deals from property owners and re-design the building to accommodate its members. WeWork for example, offers below average price in most of the cities where it is present. Flexibility in membership is also essential: you can pay for different desk option like hot desk, designated desk or even private office, depending on how much freedom you need. Flexibility also exists in the time span of your membership: maybe you want to work for a few months and move to another space, in that case paying for a monthly pass is ideal for you. Some companies want to be more stable so they can opt for annual membership option. Nowadays there are even some coworking spaces offering daily passes. Almost any company can find a plan that is fitting to its needs!
Customization For Future Growth
Your team is growing constantly? This month you are 8 and next month you might be 15, if you are a startup, you know what I am talking about. Having to constantly re-organize your office to fit in new members can be a real hassle especially if your business is growing. In coworking spaces this is not a problem: the private office option comes with customization possibilities. Whether you are a team of 20 or 100, they can make reasonable design for your team so you can work just as efficiently as usual.
Move-in Ready And No Hassle In Administrative Tasks
When moving to a new office, people want to get to work immediately without worrying about setting up the printer, the scanner or even the coffee maker. Coworking spaces takes care of all of those errands for you, with some more: most coworking spaces today also offer to handle mails and packages, paying electricity and internet bills among other things. Essentially, you pay your membership and then do not need to worry about any administrative aspects, just get to work!
Motivation And Creativity From Hard-working Members
When creative people sit under the same roof, they form an aura of industriousness and creativity. At coworking spaces, people typically work long hours and they stay motivated. Working alongside fellow startups, entrepreneurs and freelancers really drives one to stay focused. Besides, if you need advice in different aspects of business, there is always someone in the coworking space who knows something about something. This is certainly an amazing extra benefit that coworking brings.
Community Support With Plenty Of Events To Expand Your Circle
You are not alone when working at a coworking space. The sense of community exists to help the members grow together. In many coworking spaces you will find them hosting panel discussions, guest speakers and industry experts to share insights and help the members at the space to learn and progress. Some coworking spaces even offer consultation and advising sessions. Apart from that, events are also a highlight for coworking. Weekly happy hours, lunches, networking nights, mingling and parties to just name a few. Going to such events is
Although coworking has a bunch of benefits, it is not the perfect solution. Below are some areas we believe you should consider before moving in to a coworking space.
Sacrificing Privacy To Some Extent
High level of privacy is hard to achieve at coworking spaces, you are after all, at a shared space. Many coworking spaces use glass instead of walls to get as much natural light as possible. In addition, if you have a lot of confidential phone calls to make, the phone booths are bookable. However, in some cases, they are constantly occupied and causes inconvenience.
Some Events Might Be Distracting
The networking events and fun activities are great for many, but some might find them really distracting, especially when their work demands high level of concentration. Unless you have the private office membership, you are most likely to be affected to some degree when such events take place. Think twice about getting just desk options if your work requires focus, maybe private office is a better solution for you.
It Could Get Busy And Crowded
At some coworking spaces, especially if they are located at a popular area of the city, it does get very crowded. When you get a hot desk option where you do not have a designated desk, you may not be sitting at an ideal seat, if you manage to find a desk at all. This is something to take into account when searching for office in a busy and popular business area.
We believe that if you are a startup or need flexibility in your business, coworking is certainly more advantageous option for you. On the other hand, if the nature of your business involves sensitive information and great secrecy, then evaluate the privacy factor before you sign up for a coworking space. In summary, however, we believe that coworking space is an ideal solution for the majority of the startup companies and freelancers as the benefits outweigh the flaws.
Now that you know the pros and cons of coworking, you might want to know more about some of the best coworking spaces near you. Check out our list of best coworking spaces in major cities all over the world!