When you’re working on freelance projects or running a small business, as your company grows beyond just yourself, it’s essential to have an office space that can accommodate your team. Coworking spaces can positively impact your small business’ growth.  Plus, with coworking spaces being so affordable these days–especially when compared to leasing out an entire building–they make for a perfect option for entrepreneurs! 

Benefits of Coworking Spaces for Small Business Owners

A coworking space is an office environment that provides people with rentable desks, meeting spaces, internet access, and other amenities such as printers, coffee machines, etc.  It is a place where you can work alongside other entrepreneurs, freelancers, and remote workers. Let’s dive into the benefits of coworking spaces for small business owners.

Saves Money

It’s time to explore the idea of a coworking space if you don’t want to spend thousands on new equipment or on hiring more employees. With no long-term contracts or expensive office space rental, coworking spaces provide an affordable option. Coworking spaces are not only great for freelancers who need a quiet place to work or teams in between projects requiring an affordable workspace; they also offer small business owners a low-cost option for getting out of their homes while still maintaining some level of privacy.

Saves Time

As a small business owner, you want to save time because you already have a lot on your plate. You are responsible for managing employees, customers, and the day-to-day operations of your company. As these responsibilities pile up, it can be challenging to find time to focus on long-term planning. You’ll find that this is where coworking spaces come in handy! 

Saves Space

Coworking spaces are great because they offer both the privacy of a private office and the collaborative environment of an open floor plan without taking up too much space in your home or apartment. It keeps your home life and work life separate.

Improves Productivity

Coworking spaces provide an effective way for small businesses to boost productivity.  Do you find yourself working from home and sometimes feeling like your creativity is being stifled?  If you’ve been looking for ways to increase your productivity and have been feeling the need to explore new terrain, then it’s time you checked out your local coworking space. You might find that a change of scenery and routine is just what you needed all along!

Encourages Collaboration

A shared environment encourages collaboration. Coworkers can bounce ideas off each other and tackle hard problems with face to face interaction. A sense of camaraderie among coworkers will make these trying times less stressful as you work towards success together! 

Provides Networking opportunities

As an entrepreneur, the challenges of starting your own company can be daunting. You’re not sure where to start and how to do it all alone. That’s why coworking spaces are perfect for you!   They offer many benefits, from networking with other professionals in person and through social media in the same industry to sharing knowledge and expertise with others who have been through what you’re going through right now – starting your own small business. 

Tips for Finding Your Ideal Coworking Space

Cost: As a small business owner, your budget might be limited. Research the prices of different offices in your area, so you know how much money each one charges per month before committing to one. If more than three people are on staff, this number will be higher because they need larger office spaces.  

Location and Parking: You don’t want to be spending all your time in a long commute during peak hours, so location should be one of the things to consider. If you have clients visiting you, try and find a place that might be convenient to them. Find a coworking space with ample parking space so that you or your clients are not scrambling to find parking.

Workspace Design and Furniture: Think about the kind of office environment you and your employees would prefer. Do you want a mix of private spaces as well as collaborative spaces? Furniture would be one of the considerations as you want your employees to work where they are comfortable. Coworking spaces come with options such as standing desks, couches, bean bags, and work desks. 

High-speed Internet and Amenities: High-speed, reliable internet should be a given when it comes to coworking spaces. It’s always good to check coverage and make sure you and your employees can work uninterrupted and have high-quality video calls if required. You should also consider the amenities such as a printer, coffee machine, virtual telephone number and other facilities that are important to you. 

Community: Networking and collaboration are some of the advantages of coworking spaces. Choose an office community that you can integrate with and learn from and share your knowledge to get the best out of your coworking space. 

Flexibility: Find an office with flexible policies about when their doors shut at night and days off from work. This way, if someone is rushing to finish up something last minute or wants to go home early one day, they can do so.

Wrap Up

Coworking spaces provide an affordable way for small businesses to save time, network, boost productivity and grow their companies without breaking the bank.  As your small business grows, you may outgrow your coworking space, but that’s okay because you can always find another location for you as a coworking space member. 

Amrapali Rai is a digital marketing consultant who blogs about business and marketing at Bazaar Expert.

Coworking space stock photo by Monkey Business Images/Shutterstock