Starting your own business is a bit like “leaving the path during a hike and creating a new trail through the woods,” explained Gearmunk founder and CEO, Erik Boles. “You might come up on an oasis” or you might find a cliff. According to a report in the Colorado Springs Business Journal, Boles is one of about 15 startups and 25 small businesses that has benefitted from the help of Epicentral Coworking, a flexible workplaces company that not only offers investment money to new businesses but also a downtown coworking space in which the company can take root. About seventy percent of new businesses fail, the report notes, and Epicentral’s aim is to give as many new businesses a leg up as possible.

Money isn’t the only issue that startups face, the report explains. Beyond that, it’s a lonely venture in which founders are in urgent need of community support. And that support is what flexible workplaces like coworking space or executive suites can provide. The CEO of Epicentral notes that many of the people working there will contract the services of others there, or even hire them as employees. Five major projects have resulted in the ability of the coworking startups to lend their expertise to each other.

In addition to the help from a community of other small businesses and startups, companies in coworking spaces or executive suites find flexibility in leasing — renting a desk or office space for a few hours a day or for weeks at a time instead of being tied to a long term lease such as a traditional office space would provide. And for some entrepreneurs, that’s just the kind of help that can make the difference between blooming and bombing.

Would you like to know more about flexible workplaces like coworking spaces or executive suites and the impact they can have for new businesses? Contact us.