The Benefits of Coworking for Startups
Coworking has been continuously growing in popularity—there are many reasons why. Whether it’s the buzzing, collaborative work environment, central locations, amenities, or opportunities to meet other entrepreneurs, coworking spaces can help companies (and startups in particular!) grow and thrive.
In this article, we look at some of the benefits of coworking for startup companies.
In an early-stage business, flexibility is key. Coworking spaces will provide much more flexibility than a traditional office, where you will have to sign a longer lease. In coworking, offices are usually let on a rolling monthly basis, so you are not tied into long contracts. There will also usually be flexible memberships—such as pay-as-you-go—on offer. Coming out of such an uncertain time, this is particularly beneficial for businesses that may be wary of commitment. Coworking spaces also support business growth by being scalable, giving you the safety net of being able to move to a larger office as your business expands.
Cost-saving is an important factor for startups, and renting and operating an office can become seriously expensive if you do it all yourself. Whereas in a traditional office, you’ll have to organise and pay for décor, furniture, repairs, cleaning, maintenance, technology and so on, in a coworking space, you get everything all-inclusive. In addition, you’ll be sharing utilities with other businesses, which is both more convenient and more cost-effective.
If you want to be in the centre of a city, joining a coworking space gives you that option, without the huge cost of renting a traditional office there. There are coworking spaces in prime locations, close to transport links and with the best restaurants, shops and bars on your doorstep. Perfect for impressing clients, prospective employees and friends!
One of the main draws for businesses and entrepreneurs is a coworking space’s buzzing, productive atmosphere. If the home has too many distractions or the coffee shop simply isn’t cutting it, coworking spaces are a great option to achieve maximum productivity. They will have optimal lighting, ergonomic desks and chairs, and access to hot drinks and snacks, providing comfortable, inspiring spaces for you and your team to work in. Chances are you’ll be busy as you’re trying to launch and grow your new venture, so having a productive environment to work in will be key!
Being in a coworking space provides invaluable exposure to other businesses and a vast network of potential clients to tap into. A coworking space will usually have a directory of businesses and may host events you can attend to get to know your fellow coworkers. You have something in common: you both work in the same coworking space, so it’s a great way to network with new companies and reach more businesses. You never know – you might meet a new client, employee or investor in your workspace!
As a budding startup, you’ll be focusing on growing your business day-in, day-out. Sometimes, it can be challenging to keep coming up with creative ideas. In a coworking space, you’ll always be inspired. Coworking spaces are perfect for startup businesses – so that means you’ll be close to innovative businesses and entrepreneurs all the time. Strike up a conversation with someone in the space, and you may discover brand new ways of thinking you hadn’t ever considered.
As a startup business, it’s essential to get your company’s name on the map, but this may not be your top priority. A coworking space ensures that you have a professional image from the start. You get access to meeting rooms to host clients, private phone booths to take calls, and a registered address to register your business giving you the professional image without big up-front investment!
Employees are becoming increasingly aware of the value of great workplace culture, but you probably don’t have the time or resources to invest heavily in your culture as a startup. In a coworking space, you can access a pre-existing culture! Coworking spaces will have incredible amenities, events to attend, and other people to meet – giving you a ready-made employer brand that will impress both prospective and existing team members.
One of the best-known perks of coworking is the amenities. A desk, Wifi access, printing and hot drinks are usually a given, but there’s no end to the other perks coworking spaces are now offering. From free breakfasts and snacks to wellness perks like gyms and yoga classes, and lunchtime learning events, there are more workspace amenities on offer than ever before. Choose your space wisely!
Coworking spaces provide a cost-effective, flexible workspace solution for startup businesses – eliminating overhead costs and offering attractive amenities and perks to boost your employer brand.
Work.Life is a flex workspace provider with 11 coworking spaces in London, Reading and Manchester. We believe that when people work happier, businesses do better – so that’s why we create happy and productive work environments for startups to thrive, with brilliant locations, a range of flexible memberships, second-to-none perks and brilliant locations. Visit work.life to find out more or book a tour today!