Small businesses have started transitioning to using coworking spaces to perform their everyday work. Employees will appreciate the learning opportunities they receive by sharing the same space with other professionals.
After already realizing the benefits of using a shared work environment, several small businesses across different industries have started to work exclusively from there. Several small businesses have stopped using a traditional office in favor of shared office space. Small businesses that have yet to make the switch to a coworking company should consider the benefits of using a coworking space. Let’s take a look at the current benefits and trends among the coworking industry for small businesses.
The Benefits of Coworking Spaces for Small Businesses
It’s typical for small businesses to receive the following benefits from using a coworking space:
1. Scalability
Small businesses will experience ups and downs. They grow quickly, sporadically or seasonally. A conventional working environment will limit their flexibility, but a coworking space will allow small businesses to scale up or down as required. They will not have to pay any penalties and fees or abide by any long-term commitments.
2. Predictable
Since most small businesses operate on a tight budget, they will know what the overhead costs and other expenses will be while using a coworking space. If they worked in a traditional commercial office, they will not always be able to predict the cost of their expenses each month for things like the internet, printer ink, paper, utilities, and other basic office supplies and equipment. Coworking spaces come with many office amenities already included, which means businesses can have a better expectation of what their expenses will be each month.
3. Productive
Small businesses need to ensure they achieve and sustain optimal employee productivity. Coworking spaces create environments for businesses to get the highest level of productivity from their staff. There are not the daily distractions of working from home or in an oversized office where it’s easier for employees to blend into the routine of traditional offices. Coworking spaces allow small businesses to focus on employee development so they can, in turn, grow as a company. Most shared office environments are also conveniently located which makes it easier for small businesses to conduct sales meetings and network with other people.
4. Local Community
Coworking spaces benefit the local community by inviting small businesses, freelancers, and entrepreneurs to set up and grow their office space. In return, this gives back to the local community by creating jobs through networking opportunities. When one coworking company opens in a city, it typically creates a chain effect with several other locations popping up after it.
Coworking companies help repurpose and remodel old parking lots, vacant buildings, and unused warehouses to transform them into a collaborative place for shared office space. It also offers small businesses the opportunity to connect with investors and employees and to network with freelancers, business owners, and skilled professionals.
5. Innovation
While coworking, small business owners have plenty of opportunities to interact with innovators and entrepreneurs and seek their guidance on techniques they can use to grow their business. The goal is to see every issue and gap in the market as a chance to get better.
Is a coworking space right for every small business, though? It depends on the needs of your business, but you never know until you try it. How can you know if this type of setup could work for you if you never allow yourself to consider it? Once small business owners have decided to work from a coworking space, they need to familiarize themselves with the trends in 2019.
5 Coworking Trends in 2019 to Know
Here are some of the popular coworking trends in 2019 for small businesses:
1. Technology
Advancements in technology mean better coworking spaces. Small business owners do not need to hire an office manager like before, but can instead use coworking space management software, automated devices, attendance system, automated invoices, booking systems, time trackers, and more.
2. Several Locations
Small businesses may choose more than one location to set up their offices especially if the employees are spread out within the same city. Some coworking spaces may adopt a coworking passport program, which enables the user to have a designated number of hours they work in a coworking space.
3. Space Design
Coworking spaces are known for their interior design. Small business owners looking at several coworking spaces will find the interior design unique, refreshing and vivid. Other things that small business owners could find there are sofas, standing desks, sitting desks, bean bags, couches, and more. Instead of some spaces having a sports room with table tennis, chessboard, and foosball, they will have swings. All the different layout and design options allow business owners to decide which coworking company offers their employees the best working environment.
4. Out of the Box Services
Some coworking companies offer small businesses additional services, such as babysitting, chartered accountants, pet-friendly office spaces, bank connections for loans, business accounts, and more. Be sure to check what amenities are included with your membership and what services you have the option to add on as you see fit.
5. Greenery
Small business owners will find a lot of greenery in a coworking space in the future. They will come across green walls, several flowers, and plants. Coworking companies have started to include stones, artificial waterfalls, faux beaches, and more. All of this highlight the idea that feeling connected to a working environment through design aspects can benefit employees’ morale and productivity.
If you run a small business, you need to use a coworking space, so that you can reap the benefits for your employees and your company.
Venture X North Dallas is a prestige coworking space for professionals who want to connect and collaborate with like-minded Dallas professionals. T: 972-299-8575
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