For the owner and client. Understanding the business we are a part of and why it is working for small businesses.
by Amy Moyer
Many small businesses and freelancers have found the benefits of coworking. Now commercial real estate and landlords are seeing the trends going towards coworking and flexible office space as well.
Coworking spaces are popping up all over the United States and not just in the urban areas, but suburbs and small towns are starting to find value in this business model as well.
An article from SmallBizTrends.com on “Easy Ways You Can Turn Coworking Space Into Success for your Business” reviews the growth in coworking spaces and the benefits to small business owners and entrepreneurs.
Research shows that by 2020, 40% of the workforce will be made up of independent or freelance professionals. The United States will have an estimated 696 new coworking spaces open up, a 9.5% growth rate over last year. The number of work desks available in US coworking spaces will be up 20% this year, 2019.
While Coworking is not a new concept, it is in its growth period. It is fast becoming a desired work atmosphere for remote workers, freelancers, and small businesses. As covered in the mentioned article from SmallBizTrends.com, there are five major benefits for the Coworking client.
- Scalability: Startup and small business experience ebbs and flows. Growth happens quickly, sporadically, or seasonally. A traditional office space locks you into a long-term lease with little flexibility. But a coworking space lets you scale up as needed. No penalties, extra fees, or long term commitments are mandatory.
- Predictability: Small businesses operating on a tight budget find it nice to have predictable overhead and expenses. Operate out of a traditional commercial office space? We never know our costs for internet, utilities, printer ink, and other basic office supplies. But a coworking space builds everything into the monthly cost. So we agree to this cost up front.
- Productivity: Coworking spaces are designed for optimal productivity. We don’t have to worry about all of the administrative tasks that come with operating out of a traditional office space. Instead, we are free to focus on working. And because most coworking spaces are situated in prime locations, we find it highly convenient for sales meetings and networking.
- Community: Speaking of networking, coworking spaces allow us to rub shoulders with other business owners, freelancers, and skilled professionals. We never know when we’ll bump into our next business partner, investor, or employee. If nothing else, there’s power in building up a network that can be leveraged in the future.
- Innovation: When we’re surrounded by other entrepreneurs and innovators, their creativity will rub off on us. We’ll start to see every problem and gap in the marketplace as an opportunity. In this respect, coworking becomes a creative asset that moves the needle on our entrepreneurial spirit.
While Coworking may not be a fit for every business, it has many benefits for others. Locally, in Gilbert, AZ approximately 20 miles from Phoenix, we have found multiple clients and potential customers that are working remote and don’t want to commute to a main office even 30 to 45 min away. They may live or have clients in our area and it doesn’t make sense for them to make the commute. We offer a professional atmosphere for client meetings along with the other benefits of coworking.
It will be interesting to watch the growth and evolution of coworking over the next five years and beyond. As technology progresses and working remote becomes more accepted and feasible, the segment of the workforce as well will expand. We as humans still desire the sense of community and the sense of belonging, and coworking is where we can find it.