Coworking is a growing work tactic that is often seen in startup businesses. It’s impact on the startup industry is evident. In fact, early stage startups are reported to have higher success rates due to coworking spaces. It is defined as the use of an office by people who are working for different employers or freelancers.

Ideas, information and equipment are shared in coworking spaces. It is a place where individuals can socialize with others and bounce ideas. Studies show that employees who work in a shared space have a higher level of satisfaction. The whole idea of working is to bring creative and bright professionals together and let their ideas collide.

Increased Productivity

Coworking is perfect for those looking for a productive environment. Finding others with the same professional goals can be a challenge. These facilities offer an environment that allows for everyone to collaborate and work efficiently. Additionally, sharing space helps networking on a professional and personal level. One can find people of different business sectors and the connections will prove to become useful as one’s business grows.

Cheaper Alternative than Office Spaces

Office spaces are expensive. On average, office spaces can cost from $1000-$3000 monthly. However, coworking spaces provide a flexible work area because of its low costs. You can have a community and office environment for the price of a gym membership. Unlike office spaces, coworking spaces do not come with long leases. Extra costs such as repairs, office supplies, desks, and office maintenance are a thing in the past with coworking spaces.

Distractions? Maybe

Apparently, sharing a space for innovation and collaboration is great but there are some drawbacks. These spaces are loud, noisy spaces where socializing is not unheard of. People will talk to each other, publicly make calls and move around. We recommend first time participants to see the noise level of the place they are at. If it conflicts with your style of working, find an area with less uproar.

 The Future of Coworking

Coworking has a bright and clear future within the upcoming years. It is rapidly growing and has a large influence on the work environments of freelancers and professionals. Economically, it is perfect as it allows businesses and professionals to grow with each other.

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