Benefits of Shared Office Space: Business Beyond Boundaries

Today, the traditional work environment is turning in on its head. Companies are switching to modern work practices. The switch to coworking models increased dramatically after the pandemic, but coworking has been effective before COVID-19. Shared workspace has shaken up business industries. Yes, co-working or shared office space have certainly opened up the minds businessmen and businesswomen to experiencing a flexible and rewarding work environment. Statistics reveal what a trailblazer coworking is.

Recent studies suggest that the estimated number of coworking users will rise to 3.8 million in 2020 and by 2022 it will touch 5.1 million. With 14000+ shared office spaces working around the globe and with increasing demands, the number of setups are expected to increase exponentially as more professionals take advantage of the benefits of shared office spaces.

What are Shared Workspaces?

These are collaborative communities and work homes to startups, creative individuals and SMEs. Shared workspaces are the new-age of how people work. They provide a common ground for freelancers, professionals and remote workers and cut costs by avoiding renting fees. Revamped work cycles will allow entrepreneurs to thrive, which is great for the community and economy. Pulling in more wealth while minimizing expenses always sounds good to new and growing companies!

Some of the top benefits of shared office spaces include:

Minimal Operational Cost‍

You get to do away with the many piling bills of renting a brick and mortar office when you use a shared workspaces instead. Attractive discounts and offers on membership fees make coworking spaces is a saving grace. Small startups and individuals struggling to make way in the corporate world can tackle their goals without exorbitant finances. With no worries of overhead costs, internet connectivity, housekeeping and office equipment, professionals can devote more time and energy to scaling up.

‍Better Networking

‍Imagine going to a workplace sans office politics and hostile co-workers…yes, shared office space offers members an opportunity to meet like-minded people from different industries and professions. This not only helps to boost your confidence, but also fosters a work environment of growth, learning and productivity.

‍Access to Shared Spaces

‍Ergonomically designed, with professional conference rooms, meeting halls, lounges, live reception, in-house pantry and sunlit recreational spaces to unwind are all available at a shared office space. Whether you prefer cubicles or an open desk, different workstations you’ve got options for your office setting. You can keep changing your work corner every few months to match up with your mood or changing projects too.

Flexibility and Freedom

‍A regular work structure can sometimes become burdensome when factors like unpleasant coworkers and a difficult employer come into play. However, at shared workspaces there’s freedom to choose your favourite sunlit corner or the extra spacious centre space. So, whether you prefer working with a mug of coffee by your side or crunching numbers while strolling down the lounge, you get to decide how your workday looks and feels.

‍Professional Identity

‍Working from home or at nearby cafes can hinder a professional appearance when dealing with clients. Shared workspaces have state of the art conference rooms, meeting halls and lounges that’ll give your clients a great impression of you business and . Often located near marketplaces or in the heart of cities and towns, coworking spaces offer easy connectivity to their members and prospective clients.

‍Emotional Growth

‍Remote workers can easily fall into the ‘loneliness epidemic’. Vivek Murthi, the former Surgeon General of the United States, points out that loneliness is not just a social problem but also a health problem. Harvard Business Review reveals that 84% respondents of their survey reported improved work motivation and engagement. One of the many advantages of shared workspaces is that it offers a place of great emotional and mental support. Members get a chance to interact with high spirited professionals and be a part of a community that promotes learning, upskilling and guided mentorship. Problem-solving and creative thinking comes easy in such an environment where each one inspires the other. No wonder, a recent study suggests that 83% of the co-working members report that they are happier since they joined a co-working space.

‍Coworking Brings Structure and Productivity

‍Your energy levels fluctuate during the day and your workplace should be smart enough to optimize on your productivity. One of the biggest benefits of shared office spaces is that they provide a structure to your day which can get lost working from home. It’s hard to avoid the easy distractions when your place of rest is also your office. The smart designs of shared workspaces tap your positive energy and enhance them through complementary factors like bright sunlit desk space, soothing background music and regulated room temperature to bring out your best.

‍Shared Office Spaces are the Step Ahead

‍Enveloped in high satisfaction levels, shared workspace is the new pill to old work challenges. Building community, reducing isolation, and promoting better work engagements, it is not a workspace industry but a happiness industry. What started as a faint idea about fifteen years back is here to stay and change the work culture for many decades ahead. In the wake of the recent COVID-19 pandemic and with growing concern towards sustainable working with more and more corporates pushing employees to opt to work from home, shared office space is indeed the next big business solution. A growing number of co-working spaces are a good testimonial to this fact and the future will perhaps see more customized and tailor-made shared workspaces designed to fit every industry type. Besides offering great value to side hustlers and freelancers, shared spaces are those versatile and valuable assets. They can alter a country’s dynamics in multiple ways. From nurturing the economic growth to stimulating new work opportunities, it is an answer to the crucial problems of a nation.

Nonetheless, with a promising future and an established past, shared office spaces are clearly one of the best options for a workspace.