Startups rarely have the funds to purchase their own office space, especially now that real estate prices are off the charts. Although office space is necessary for every business, a huge chunk of a startup’s budget falls on product design— the major player who will dictate if they will make it or break it. Because of budget concerns, startups have been calling coworking spaces as their home. Even in upscale areas like Biltmore, conference room rental is their preferred choice.
A coworking space has been called “the workplace of the future” and “the alternative office.” The demand for more non-traditional office space is not exclusive to startups. Entrepreneurs and freelancers are also enjoying the comfort and efficiency of coworking facilities. Coworking spaces were initially created to address the needs of freelancers to have a place that has a semblance of an office.
Currently, the global trend has yet to die down. The number of coworking spaces continues to grow. Even large companies are utilizing these spaces to house departments composed of hundreds of employees. Similarly, tech startups and creative freelancers are not the only ones that use these flexible offices. Some institutions have transformed coworking spaces into centers of innovation and research labs.
Other fields are now taking advantage of the flexible and autonomous environment of coworking spaces. For a more thorough description, here are the different types of coworking spaces for different types of people:
Solo entrepreneurs are a one-man/one-woman team. They build their business without a team. What makes them different from freelancers is this: they work on their brand. Other than the perks of working in a coworking space, it also gives them a proper office address, which they can use in documents and meetings—minus the cost of a traditional office. Similarly, entrepreneurs with small teams prefer coworking spaces for financial and design reasons. After all, coworking spaces offer facilities and necessities found in a traditional office set-up without the stress of managing the place.
Instead of working from home, freelancers prefer coworking spaces for this reason: the ambiance is far from the clinical vibe of an office while keeping them productive, still. Coworking spaces give freelancers the semblance of freedom where they can come in anytime and work according to their own pace. Moreover, it is an excellent place to create a network with other freelancers, and perhaps, acquire a project from each other.
As mentioned earlier, large companies are choosing coworking spaces, sometimes as satellite offices in various cities. It is a convenient way of establishing a presence in new territories and launching new projects because it cuts them the hassle of looking for a real estate property and supervising its renovation.
Unlike freelancers, remote workers are tied with one company, but they are not required to work in the office. People who choose remote jobs are usually those who prefer to work in solitude. Nevertheless, they need an environment where they can be productive. The two requirements- solitude and productivity- make a coworking space the perfect option.
As an office, coworking spaces are functional. But the qualities that made it a global trend is its well-designed environment that fosters creativity, innovation, and collaboration.