Starting a business has never been easier. Previously restricted by preliminary finances and a corporate structure, entrepreneurs now have the flexibility to create a SME from the comfort of their own home, poolside in Bali, or in a collaborative office share with multiple industries.
Coworking spaces are becoming an increasingly popular option for business owners to take control of their core business functions and thrive in an environment with likeminded people at very low costs.
Coworking offices host different companies and industries to work independently or collaboratively within a shared space. They offer a relaxed and flexible arrangement, free from distraction, operational restrictions and expensive leasing contracts. Shared workspaces have multiple benefits:
Creativity
When employees are from different social, cultural and employment backgrounds, there will be a broader spectrum of skills and creative ideas. When allowed to freely communicate without the pressures of a traditional work arrangement and office politics, creative ideas will flow and you will have access to feedback and perspectives that you may not have considered before.
Increased productivity
If you have ever tried to operate your business from home, you will know how motivated you become to clean the kitchen just to push back working by another hour. Even in a traditional office environment with multiple employees, you will be constantly interrupted by questions and meetings. When you are surrounded by hardworking people who don’t need reminding how to use the printer, you will be far more focused and productive.
Convenient locations
Coworking spaces often have prime locations. You can affordably choose to work in a fully functioning modern office, close to other major businesses, restaurants and an excellent transport links. As there are multiple shared office setups across the country, you can choose where you work at your convenience.
Cost effective
A shared workspace allows you to work in an office environment without the lengthy lease terms. As well as the desk rental, overheads such as highspeed internet, printing facilities and air-conditioning are generally included in the price. Some offices even offer state of the art equipment to share. You pay for the space you require so you can operate your business from one desk or pay for multiple seats on a daily, weekly or monthly basis.
Networking and collaboration
You will be surrounded with likeminded people who are inspirational, motivated and most likely looking to expand through new connections. Collaboration with your neighbours is optional, but when you are sitting next to an accountant one week and an inspiring architect the next, you have the opportunity to mingle with industries in a working environment that you would not normally have access to. This will expand your personal and professional networks and allow your business to grow exponentially with new connections.
Flexibility
Coworking spaces are normally accessible 24/7 so you are not bound by an 8-6 schedule. This allows you to have a healthy work/life balance. You can give yourself a routine that was nonexistent working from home while still choosing to work when you want and when you’re most productive.
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