Small Business Brief


Coworking Spaces: What the Heck Are They and How Can they Benefit Your Business?

A study conducted by MBO Partners concluded that over 18 million people in America were “solopreneurs.” That number has risen exponentially since the study was conducted.

Solopreneurs are essentially self-employed people that don’t work with a team. The rise of this class of business person has led to the rise of something called coworking spaces.

Coworking spaces have garnered the interest of solo-business people and small business teams alike.

Below, we briefly discuss what a coworking space is and the advantages that it can bring to groups of all sizes.

What is a Coworking Space?

A coworking space is a shared office that’s operated somewhere in a community. You can find them in big cities like Los Angeles and even in smaller ones like Bisbee.

People that use coworking spaces subscribe to them as they would subscribe to a gym. With a subscription, they can access the building that the coworking office is in, use any available desk within the office and work 24/7.

Since multiple people are essentially splitting the lease of the coworking space, working in this kind of environment can be more affordable than leasing your own office.

Key Coworking Advantages

Now that you know what a coworking space is, you’re probably curious to know why they’re so sought out. Here are a few of the key advantages that draw entrepreneurs towards coworking.

1. A Sense of Place

If you’re an entrepreneur working out of your house, you might get tired of plugging away in your bedroom office for years on end. People that are in this position and want their business ventures to feel more official like that coworking spaces give them a professional environment to work out of.

2. Low-Cost Housing For Teams

Coworking spaces aren’t only popular amongst individual business people. They’re also popular among small teams.

Companies that have 5 to 10 employees often opt to buy group coworking memberships for their staff rather than leasing out a private office because it’s cheaper and because being inĀ serviced offices means that they don’t need to restock supplies, hire cleaners and do other things that come with running your own space.

3. Space to Meet Clients

People that are running a business out of their house usually prefer not to meet clients in their kitchen. Coworking spaces often provide meeting rooms that you can book which are great for making your business venture seem legitimate to your patrons.

4. Flexible Office Spaces Nationwide

Travel for business a lot? When you have a membership to a brand of coworking spaces, you may get access to all of their spaces nationwide.

That means having an office to work out of no matter where in the world you are.

Our Final Thoughts on Coworking Spaces

Coworking spaces are a cost-effective and affordable workplace solution for business people.

We hope that our write-up has helped you to better determine how much value they might represent to your company and we invite you to consume more of our business-oriented content if you’d like additional information!