Gone are the days of traditional offices and those rigid structures with set desks and cubicles. Many organizations today are making the shift to shared or coworking office spaces where employees from different teams, business units, and even organizations can work together. While a coworking office space can take up many forms, the common idea is to completely redefine the age-old notion of offices and offer people flexibility and a collaborative work environment.

Reasons to rent a coworking space
1. Cost-effectiveness
One of the biggest benefits of renting coworking spaces is the saved costs. With a traditional office, one needs to cover expenses associated with long-term leases, monthly utilities, furniture upkeep, and general maintenance, which can add up to a lot of money, especially for a new business. This is all taken care of with coworking spaces, as they offer flexible plans allowing people to rent desks or meeting rooms according to their needs. It absolutely does away with the need to invest a hefty amount of capital into building and maintaining an office and shifts focus to things that really matter—the everyday operations!

2. Flexibility
Coworking spaces also offer a ton of flexibility. With a smaller office space, one might feel restricted due to location, work hours, or even the availability of resources. This issue is completely done away with coworking spaces. Most of these new-age offices have coworking set-ups at multiple locations, allowing teams to meet up and work remotely at a location convenient for them. Several open early and close late, allowing flexible working hours compared with a traditional office. Coworking spaces also have a range of meeting rooms with available amenities like whiteboards, touchscreens, high-speed internet, etc., so teams can choose one that best suits their needs.

3. Opportunity to network
A major yet overlooked advantage of coworking spaces is the opportunity to network and build new connections. With so many people from different companies and walks of life working together in one area, there are limitless chances to form new connections that allow everyone to brainstorm together, be more creative, and even bring in new clients.

4. Scalability
With a growing business, it is tough to have an exact estimate of the space required to create a sustainable office. This issue is easily taken care of with coworking spaces. Whether it’s one employee with a laptop who needs a chair and a stable Wi-Fi connection or a team of 50 people working together on a project, coworking spaces can provide room for all without having to fuss over leases and logistics.

5. Better access to top-notch resources
When running a small business, it is not possible to create access to all the amenities one needs. Instead, it often becomes a matter of priorities, with more urgent and affordable needs taking precedence over things like setting up office space. With a coworking space, however, even the smallest of businesses gets to ensure that their team has access to top-quality resources, whether it’s high-speed internet, a well-stocked coffee station, or even a gaming/relaxing room, which goes a long way in boosting employee mood and productivity. The biggest advantage is that the team gets access to all these amenities without management having to worry about admin or maintenance costs.

6. Work-life balance
Surprisingly, an office space can help improve work-life balance. Most coworking spaces are strategically located near transit hubs and urban centers, making them easy to reach and reducing the hassle (and frustration) of spending time in traffic. A lot of coworking spaces also have on-site fitness centers, prayer rooms, and relaxation areas, which can be a boon for employees, especially on stressful days.

7. Collaboration
Networking in traditional offices can feel like a bit of a struggle. After all, these spaces were not designed to be conducive to interacting and working together. Coworking spaces, on the other hand, encourage interactions between people. They generally tend to have an open layout so people can work together and support each other. This community feeling goes a long way in promoting open communication and honesty between team members, which may help improve collaboration on team projects and a sense of belonging.

8. No long-term commitment
Forget the social benefits, let’s bring it back to the financials. Traditional office spaces often come with a lock-in period, which can make leaders feel like they are tethered to one location. Coworking spaces completely do away with this problem, as they do not require any long-term commitments. There is no need to sign a years-long contract to gain access to office property. In fact, these spaces can accommodate businesses’ changing needs daily so companies can grow at their own pace.

9. Access to new markets
Lastly, coworking office spaces are a great way to set foot into new markets. When scoping a new city for potential opportunities, businesses are less likely to splurge on creating a new office setup. However, the team still needs a space to meet and work collaboratively. Enter coworking spaces. With offices already set up in various locations around the country (and the world), all one needs to do is book a space and show up with their laptops. This makes it very easy for companies to expand into new markets and widen their reach without having to spend thousands of dollars on acquiring properties first.