As a startup company, you might not have enough budget to fund an office. However, securing an office space for your operations has to be one of the most practical decisions you can make in growing your business. There may come a time when your home office is no longer enough for your startup and you need to move into a bigger space. While renting an office space may be out of your budget, you might want to consider moving into a coworking space.
What Is A Coworking Space?
A coworking space allows you to share office space with other companies to save on costs. This way, you don’t have to solely pay for rent for a single office, and you can share the expenses with other businesses. Many startups prefer this setup as it’s effective and cost-efficient.
Benefits Of Coworking Spaces
To help you understand the advantages of moving to a coworking space, this article will discuss the many benefits of renting one. You’d be surprised at how it could be the best move for your company, a decision that could potentially boost your productivity, efficiency, and brand image.
Below are the advantages of moving to a coworking space for startups:
Helps Save On Costs
Of course, one of the primary benefits of moving to a coworking space is how it can help you save on costs compared to having your own private office. Since you’re still in the process of establishing your company, it’s best to reduce or avoid unnecessary expenses as possible.
Apart from sharing the office space rent, you’ll also share the costs for the amenities, receptionists, equipment, utilities, and maintenance services. It’ll be a great cost-effective solution, giving you the benefit of having your own space without draining your pocket.
Improves Productivity
When people work around busy and productive people, it inspires them to do the same. When people work from home, you’ll have no idea what they’re doing behind their computer screens. To avoid this scenario, which can be harmful to your company’s growth and productivity, moving into a coworking space would be a better option. This way, you can see your employees face to face and see if they’re actually working. This doesn’t mean you micromanage them, but it gives you peace of mind knowing they’re dedicating their hours to work, and thus increasing their productivity.
Ensures Proper Communication
Hosting virtual meetings might not be everyone’s cup of tea, especially with households experiencing slow internet connections. This can cause miscommunication, which can make your meetings less effective. In a coworking space, you can guarantee that your meetings will be more effective since you don’t have to worry about any communication barriers, as you can interact with your employees face to face. You can communicate with people without worrying if the other party can hear you. Apart from meetings, this’ll also benefit the process of handling questions or issuing instructions, which is somewhat difficult to do through instant messaging. This will allow for proper communication and seamless operations.
Expands Your Network
Since you’re sharing the space with other people from various companies, or individuals who like to have their own working space, you can take that opportunity to network and socialize. The space will be filled with plenty of talented individuals with a good share of skills, which fosters healthy professional networking and exchange of ideas. As you share your office space with others, try to socialize and interact with them. They can be potential clients, advisors, or collaborators, which can benefit your company in more ways than one.
Provides Comfort
Yes, working from home can be the most comfortable setup. However, some people might develop burnout as their perception of home as a place to relax may gradually change. Their place of comfort becomes their source of stress. To allow them to retain the boundaries between work and home, moving into an office space would be a refreshing idea.
Moreover, a coworking space is also equipped with various amenities and facilities to ensure the workers’ comfort, from ergonomic chairs down to sleeping pods, pantry, fitness center, and more. Letting your team enjoy all these is a great way to take care of their personal needs.
Allows For Flexibility
Another great benefit you can get from moving into a coworking space is the much-needed flexibility to accommodate potential growth in the future. Once your company grows and you decide to hire more employees, you can easily scale up your numbers without worrying about acquiring more space. Coworking spaces are rarely full, which allows you to expand to as big as you want. But of course, if you already have more than 20 employees, it might be best if you could move into your own office space to ensure more privacy for your team. The need to scale up can also be a sign that you can already afford one as your team is growing strong.
Promotes A Professional Image
Running a business from home is undeniably convenient and cheap. However, it might not be helpful if you want to make your business look more professional. Having an office space will help to elevate your brand image. Even if it’s a shared space, a coworking space will make you look more professional and legitimate than if you were operating from home. Moreover, having an office address will surely boost your brand image.
Takeaway
Moving into a coworking space can be a great solution for startups. It helps you to scale up your business to a more professional level without making a dent in your pocket. While it might require making some adjustments as you transition from working from home, it’s still the most viable solution to accommodate a growing business or to ensure business growth. And you can certainly reap real benefits over time. As you gain a deeper understanding of the many benefits of moving to a coworking space, you’ll surely be motivated to start searching for one around town as soon as possible.
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