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Tired of paying exorbitant amounts and being trapped in restrictive leases for your office space? Perhaps it’s time to consider shifting to a coworking space.

In this article, The Bower breaks down what a coworking office space is, what makes them so successful, and how your business can get started. 

What is a Coworking Office Space?

A coworking space is a shared office environment where freelancers and individuals from different companies can come together to collaborate or work in isolation. Among many other benefits, these spaces offer businesses of all sizes an alternative to expensive and restrictive traditional office spaces. 

Coworking office spaces also often come complete with various amenities and services available to assist members with their operations, such as Wi-Fi, professional office furniture, technological equipment, and meeting rooms. Many even host ongoing events and networking opportunities!

Why Should You Consider a Coworking Space?

So, what is it that makes a coworking space such a successful strategy for modern businesses?

1. They’re flexible.

Coworking spaces are perfect for those who need a flexible workspace solution. Members can rent a selection of desks by the day, week, or month as their business needs change, and there’s no long-term commitment required to get started. This flexibility is ideal for growing businesses or employees working remotely, helping them scale up or down throughout the year.

2. They’re affordable.

Compared to traditional offices, coworking spaces are much more affordable. Members only pay for the space they use, when they use it, which can be a fraction of the cost of renting or owning your own office. This is especially helpful for small businesses and start-ups with tight budgets.

3. They’re social.

Coworking spaces provide a great opportunity to meet other like-minded professionals working towards similar goals and make meaningful connections. Being around other creative professionals can help you feel inspired, generate exciting new ideas, and even establish lucrative business opportunities.

4. They’re productive.

Coworking spaces can actually help you be more productive, thanks to the social atmosphere and the opportunity to collaborate with others. In fact, a recent study found that 64% of coworking space members said they were more productive since joining, alongside 70% feeling healthier and 68% recognising better focus.

5. They’re convenient.

Most coworking spaces are in central & convenient locations, making it easier for both team members and clients to get to and from work. They also usually offer on-site amenities like coffee and tea, so you don’t have to go far to get what you need!

6. They’re professional.

Coworking spaces offer a more professional environment than working from home, which can be helpful if you’re meeting with clients or customers.

Which Businesses Can Benefit from Operating Within a Coworking Space?

  • Start-ups and small businesses: Start-ups and small businesses often have limited resources and need to be careful with their expenses. By operating within a coworking space, they can save on costs such as rent and office furniture. 
  • Freelancers and consultants: Freelancers and consultants often need a flexible working arrangement that allows them to work from home or on the go. Coworking spaces offer this flexibility, as well as the added bonus of a professional working environment when they need it. In addition, coworking spaces provide freelancers and consultants with opportunities to network and collaborate with other professionals.
  • Remote workers: With the rise of virtual communication & collaboration tools, more and more companies are allowing their employees to work remotely. While this has its perks, it can also be isolating – coworking spaces provide a place to go to get away from surrounding distractions and interact with other professionals.
  • Enterprise organisations: Large businesses often have multiple offices in different locations. By utilising a coworking space, they can provide their employees with a place to operate when travelling or working in a different city. 

How to Start Up Your Operations in a Coworking Space?

If you’re considering starting up your operations in a coworking space, there are a few things you should keep in mind:

  1. Define your needs: Figure out the type of space you need. Do you need a private office or will a shared desk suffice? How often do you need this space? What additional amenities are important to you?
  1. Consider the cost: Run through your finances and determine your budget. Coworking spaces can range in price, so be sure to find one that fits within your means.
  1. Compare amenities: Another important factor to consider is the amenities each space offers, such meeting rooms and presentation equipment. Packages will vary, but given the flexibility, you will be able to amend your membership as needed.
  1. Location: The location of the coworking space is also important, as you’ll want to choose a space convenient for you, your team and your clients.
  1. Schedule a tour: Be sure to schedule a tour of the space in person to make sure it’s a good fit for your business.
  1. Move in and get to work: Once you’ve created your membership, it’s time to move in and get to work! 

For more information on the benefits of a coworking space in Brisbane, please contact us at The Bower today.