The Strategic Benefits of Coworking: 5 Compelling Reasons Businesses Should Embrace Coworking Spaces

Strategic Benefits of Coworking: Business Advantages ExploredJust eight years ago, approximately 330,000 people were working in coworking spaces in the United States. Since then, that number has more than tripled and it’s easy to see why.

Coworking spaces offer a multitude of benefits to all kinds of businesses across a plethora of industries. Unlike traditional office space rentals, coworking and flexible office spaces can be leased incrementally and on an as needed basis, which can help reduce business operating expenses.

In addition to flexibility and scalability, coworking spaces can also provide you and your team with opportunities to network with other businesses that are also working in the space and to feel plugged into a larger community.

Other benefits of coworking include increased employee well-being, improved focus and productivity, and greater opportunities to collaborate on team projects.

Check out these top five strategic benefits of coworking spaces.

  1. Proximity to Clients

One of the primary benefits of coworking is proximity to current clients and prospective clients. Most coworking spaces are centrally located in downtown urban areas or in high-traffic suburban centers.

Coworking spaces also tend to be situated in central business districts near public transit with ample parking on-site to facilitate stress-free visits for your clients. This is ideal for your business because it translates into easy access to your office space for clients, funders, and other important guests.

Proximity to your clients can facilitate more frequent face-to-face interactions which can be an essential component of building long-lasting client relationships. Imagine, for example, that you lead a law firm or tech company and you are expanding your business into a new market in a new geographic location.

Coworking spaces often maintain a nationwide presence with multiple locations. In the above scenario, you could easily set up a new team with coworking space in close proximity to your clients in the new market.

  1. Networking Opportunities on Your Doorstep

 When you and your team are working in a coworking space, you’re sharing space with other businesses and business owners. These other individuals can potentially become rich referral sources for your company either by recommending you to their clients or colleagues, or by becoming your clients themselves.

Imagine that you and your legal team work in a coworking space and you find yourself chatting with another business owner who also is working out of the same location. You discover in your conversation that they also are a legal professional and they tell you they could use your team’s legal knowledge on a specific case.

In another scenario, you might want to redesign the website for your business and you end up striking up a conversation with a graphic designer working from the coworking space. The graphic designer in your coworking center may be able to help you with your website redesign and save you valuable time.

These types of interactions and referrals in coworking spaces are not uncommon. In fact, many businesses choose to situate their offices in coworking spaces because of the relationships that can be formed with other businesses and professionals working there.

Most coworking spaces also host monthly and weekly networking events, which can help you connect with businesses working in the coworking center, as well as with businesses from the broader business community.

  1. Improved Focus and Productivity for Employees

Well-designed coworking spaces typically are built with structural elements that minimize noise and promote focused work. The designated quiet zones, soundproofing, and comfortable seating you find in coworking spaces all can help your team do their very best work.

Coworking centers may include on-site administrative and IT support as part of your lease. With an on-site team available to troubleshoot technical and IT issues, your team won’t waste valuable time trying to resolve any hiccups they might encounter with printers, connecting to Wifi, or other technical issues.

A study published in the Harvard Business Review found that there’s another factor at play in why coworking spaces can increase productivity. The study found that many coworkers report that working in a community setting helps them create structures and discipline thatultimately motivate them and may boost productivity.

  1. Coworking Provides a Multitude of Options to Employees

One of the other major benefits of coworking spaces is versatility — and how that versatility impacts your team. Many businesses with 10 employees or fewer choose to headquarter in coworking spaces because of the different workspace options available.

In a well-designed coworking space, your employees can customize their work environments to meet their specific needs, which ultimately can enhance productivity and employee well-being.

Your team members can work in casual gathering spaces such as a community café or lounge if they find they work best in social spaces with some amount of stimulation. Other team members may do their best work in a quiet, dedicated space such as a private office or team space where they can work without distraction or noise from other businesses.

What your team members need or prefer for workspace may change over time and in a coworking space that’s easy to accommodate. When working from a coworking space, you have access to a plethora of workspace types that your team can use as needed, from solo work spaces and open concept spaces to meeting and conference rooms and social areas with couches and comfortable chairs.

  1. Coworking Spaces Ideal for Project Teams

Coworking spaces are designed to encourage collaboration and are ideal for project teams as well. Although the workspace needs of project teams vary by industry and project type, most project teams require a mix of different types of workspaces at various stages of the project.

Let’s say, for example, you’re the owner of a consultancy business and you’re working on a six-month or year-long project. In this scenario, your project team could benefit from working in a coworking space because of the different types of workspaces that can be accessed during different stages of the project.

These types of workspaces include dedicated desks, private offices, team spaces, huddle rooms, meeting and conference rooms, and even event spaces where you can host a big bash once the project is complete.

Coworking spaces also typically include all of the office equipment that your project team might need, including audiovisual tools for presentations and discussions, video conferencing tools and equipment, and printers and scanners.

High-speed internet and Wifi capabilities are a must-have, of course, for your project team to perform research, communicate with each other, and access online resources. Coworking spaces provide free high-speed internet and Wifi with technical support for your project teams, as well.

Many coworking spaces also offer team spaces that are specifically designed for project work. These smaller, private spaces can be customized and configured to meet your team(s)’ needs.

Coworking spaces’ on-site support teams are there as your project teams need them to assist with presentation support, copying and printing, and anything else they might need throughout the duration of the project.

To learn more about Carr Workplaces’ coworking spaces, call us at (866) 982-5803.

Don’t miss “Building Community: How Coworking Spaces At Carr Workplaces Are More Than Just A Place To Work.”

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