Coworking Spaces Foster Innovation in the Startup-Dominated Decade

Have you been hearing a lot about coworking spaces and you’re not sure what the benefits are? Maybe you’ve been thinking about getting a physical location for your business and coworking spaces are one of the methods that you’re considering. Let’s look at some of the reasons that you should definitely be considering these spaces and just how they’re fostering some great innovations. They could make a huge difference for you and set you up to continue growing your business along the way.

1. Owners Save Money

One of the biggest benefits to coworking spaces when it comes to startups is that they can help you save money. Renting, leasing or purchasing a full size building for your business, when you’re just getting started, can be extremely expensive. You pay for every inch of the space as well as all of the utilities and things like cleaning and equipment. When it comes to a coworking space you get everything that you need at a lower price, because you’re only paying for a small share of that space.

2. Employees Have More Flexibility

Working in this type of space gives your employees more flexibility on the type of workspace that works best for them. Most coworking spaces provide different types of offices, desks, tables and other spaces. This means that they can be in the space that makes them most comfortable and allows them to produce the best quality work. After all, not everyone is going to do their best when sitting at a traditional desk or in a traditional cubicle. More open space, a table where they can collaborate and more, will help them produce what you’re actually looking for.

3. Freedom to Collaborate

We just mentioned collaboration, but it bears repeating. Working in a coworking space gives you employees the freedom to collaborate with others. Most of these spaces are quite open with a few offices or conference rooms around the outside. Some of these spaces such as SOMAcentral have various options, from a desk you want just a few times a month to completely private offices, with a number of conference rooms around the corner shared with others. This allows more people to collaborate together and to work around a table or desk without having to be so confined within a room while having the option of working alone and having meetings in a private place. Being able to move around more freely and support the work that each of their coworkers are doing can help any startup company get better ideas and more extensive projects completed as well.

4. Safe Space for Sharing

One factor that may seem interesting to those who are looking to create a startup is that coworking spaces actually make employees feel safer opening up to one another and sharing their thoughts and ideas. It causes them to be more creative and to give a better environment for everyone involved. This definitely increases the quality of the collaboration that’s going on and it makes sure that everyone is sharing the unique ideas that they come up with and that your business will benefit from more varied options and opportunities.

5. Wider Range of Networking

When you have your own building you will only interact with people who work within your organization. While that may seem like a great thing, it can actually limit you in some ways. With a coworking space you have the opportunity to interact with people who work in other types of business. This can give you more creative ideas and it can also give you the opportunity to find new clients and customers. Not only that but you may be able to find people who can help your business really take off or that you might want to hire for different purposes within your business.

6. Freedom to Grow

If you’re looking to change up your business along the way you have more freedom to do so when it comes to coworking spaces. Think about it. If you lease a building you have to sign a lease for several years (usually). This means you’re locked into that space for that period of time, or you have to pay a large fee to break the agreement. When you sign on with a coworking space you can generally sign up for a much shorter period. If you decide you want something different for your business you can easily close out your contract and choose a different avenue for your business.

7. Keeps Everyone Involved

With a number of startups the options are to spend a large amount of money up front for a building or to allow your employees to telecommute. While telecommute can seem like a great idea, it actually means that your employees are each isolated and this can actually make them feel less involved in the organization as a whole. Since they don’t see or interact with other coworkers frequently they generally feel like they’re entirely on their own and that’s definitely going to make them feel less invested as well. You want to keep all of your employees connected to your business and your other coworkers.

8. Learning Opportunities

When you work with other people, in the right coworking space, it gives you the opportunity to learn from others. You’ll be able to talk about the things that you know and to help other people who don’t have those skills. What’s really great is that you’re going to have the opportunity to interact with people who have skills and abilities different from you. You may even find coworking spaces that offer classes and learning opportunities. And from there you’ll be able to develop additional skills that can build and improve your business.

If you’re looking at the possibility of a coworking space for your startup, you’re definitely not alone. Many people are using this as a method to kickstart their ideas and get the foundation that they need in order to be successful. If you’re ready and willing to start a business but you need a little bit of assistance along the way, a coworking space could be the perfect place. It could help you build a business that fosters engagement, creativity and flexibility that your employees and your customers are going to love.