Room to Grow: The Advantage of Co-working Spaces for Entrepreneurs

by / ⠀Entrepreneurship / March 28, 2019

Co-working is growing in popularity — even major companies are claiming office space in these centrally located and shared spaces. For entrepreneurs, though, co-working spaces are about more than just convenience; these community offices solve a number of the major challenges that independent businesses face.

By moving work to a shared space, entrepreneurs cut costs, build connections, and create conditions that allow them to scale up as needed, demonstrating co-working’s fundamentally transformative nature.

Ditch the Manager

Once you have more than a few people in your office, an office manager is necessary. Without one, the printer constantly runs out of ink, there’s never any coffee, and nothing gets fixed. Unfortunately, most small businesses don’t have the money to keep an office manager on staff even part-time. While there are ways to fill the gap when you can’t afford an office manager, one of the advantages of co-working spaces is that they come fully equipped.

Co-working sites generally have their own manager. That person is responsible for tech maintenance, stocking the kitchen, handling accounts, and keeping the space running on a day-to-day basis. You’ll still have to make a point of booking your own conference room as needed, but most of the daily minutiae is out of your hands at a far lower expense.

Available Amenities

Entrepreneurs benefit from shifting to co-working spaces because co-working memberships are all-inclusive. From your desk to the internet connection to coffee and snacks, you’ll have access to everything you need from day one.

It’s important to remember that specific amenities generally vary by co-working company and membership level, but the biggest difference is typically office space. At Novel Coworking, for example, there are several different office space levels, from 24/7 general access to complete office suites. But everyone has access to direct fiber internet, high-speed printers, and a fully furnished building, as well as an espresso bar. Most entrepreneurs have to scrimp and save to get decent printers in their offices, but co-working spaces provide them.

Network With Ease

One common challenge entrepreneurs face is that, though the internet may bring the world to your door, working in a small private office and on a tight budget can make it hard to network. By renting space in a co-working community, you’re already in the midst of your network.

The person in the next office might be the perfect collaborator for your next project. The accountant down the hall could be just the person you need to handle your taxes. Co-working spaces are rapidly becoming entire professional worlds, hubs of creativity and collaboration. Many businesses attest to connecting with clients, vendors, and service providers through the co-working ecosystem.

Prepare to Grow

Ultimately, by making the move to a co-working space, entrepreneurs claim their potential growth. After all, by spending less on office space, amenities, and services, entrepreneurs save money that can be committed to product development or hiring new staff. They have access to networking opportunities that may birth new ideas. And when it’s time to grow, all these businesses have to do is rent more space in the same co-working community. It’s like cloud-based SaaS; co-working is designed to scale at a moment’s notice.

Co-working isn’t just about office space — it’s an opportunity to build community at a time when our work lives are increasingly isolated. For entrepreneurs, who are disproportionately affected by this isolation, this makes all the difference. Where will you set up shop? The closest co-working space might just be the perfect live-work-play option.

Co-working spaces can solve a lot of the problems entrepreneurs face.

About The Author

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Editor in Chief of Under30CEO. I have a passion for helping educate the next generation of leaders.

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