Some of the features of a typical coworking space include free coffee, couches to relax on, and ping pong tables to play foosball with your coworkers. However, there are many other features that are not typical of a traditional coworking space.
When considering joining a coworking space, your first thought may be the convenience it will offer. However, the real appeal lies in what goes on behind the scenes. According to the most recent data, there is a growing demand for coworking spaces in Luxembourg. There is a significant increase in the number of startups entering coworking spaces.
To help you decide if coworking space is right for you, here are five reasons why startups work at coworking spaces.
Flexibility
Startups often struggle to find a location that will allow them to expand their workforce as their company grows. A two-year office lease is the last thing you want to do if you plan to expand your workforce in the next few months. That’s why many new businesses are moving into coworking spaces.
Coworking spaces provide the flexibility that so many start-ups want, especially in the early phases of growth, by giving membership options that range from dedicated desks to private offices. Companies with less than three employees may initially choose for hotdesking before relocating to a more modest office space as their workforce grows.
Convenience
Coworking spaces are also popular with startups, as they offer an alternative to the daily hassles of renting an office. How could the time and money you spend on office managers and general maintenance be used to quadruple your business?
Small businesses are able to focus their limited resources on more important tasks since coworking spaces take care of everything from paying for electricity to managing the building.
Opportunities for Collaboration
It makes sense that startups would seek out a workspace that fosters organic business connections, as networking is a critical component of building a strong customer base.
Creating an environment where people can meet and work together is at the heart of the mission of coworking spaces. If you’re at the food pantry or a professional development program, it’s very easy to strike up a conversation with someone.
Start-ups can benefit from regular networking events organized by coworking spaces, which allow them to expand their professional contacts and potentially obtain new customers. Startups can only benefit from this increased visibility, especially if they rely on word-of-mouth marketing to promote their products and services.
Access to a community of entrepreneurs is one of the benefits of using a coworking space. In the early stages of business creation, connecting with successful entrepreneurs can be extremely beneficial for startup founders.
Mentoring programs offered by some coworking spaces, as well as regular workshops or discussions with industry luminaries, are becoming more common.
Accommodations and Amenities
It’s not uncommon to find state-of-the-art features and services in the world’s largest coworking spaces. A great coworking community typically offers the following benefits:
- Conference rooms are available for teleconferences and meetings with potential clients.
- Relaxation spaces include verandas, pool tables and lounge chairs.
- Workplace amenities such as stationery and other supplies: Power lift desks, dry erase walls and office furniture are all included in this package.
- Food and Beverage: Basic amenities such as a refrigerator and microwave are provided free of charge.
All of your services will be combined on one monthly bill, as building management is responsible for maintenance and repairs. Monthly bills are grouped together, streamlining expenses.
Work-life equilibrium
Recent surveys suggest that full-time workers around the world are struggling to find the right work-life balance. There is insurmountable pressure to thrive, and startup founders, entrepreneurs and inventors continue to worry about getting enough sleep or finding time for their loved ones.
Work-life balance anxiety can be mitigated by the coworking model, but how much? Absolutely!
Members of a coworking space are bound by a predetermined work schedule. Despite the occasional late night, you’re not working in your home, distracted by household chores or pets. Entrepreneurs can separate their personal and professional lives in a coworking space, as there is plenty of space to spread out and accomplish tasks.
The unique support structure that coworking spaces offer to new businesses often proves to be an asset to their growth. Startups move away from the typical office atmosphere with the many benefits of flexible work. Startups can continue to thrive in coworking spaces with access to growth-oriented resources, other entrepreneurs and appropriate facilities.
