Having your own office requires an investment for furniture and usually an extra person whose (parti-time) job is to manage the office (managing the cleaning, kitchen, office supplies etc). If you need meeting rooms, phonebooths or reception in your office then that is an extra cost. In addition to rent you usually get a utility bill as well.
When working from home you might need to invest in a good working table, chair and maybe even a separate room to keep yourself healthy physically and mentally.
Focus on the important
In addition to spending less money you can also spend less time on thinking about office related issues and focus your energy on the important thing: growing your business. This is especially important to small business owners. In a coworking space you can walk in, “hands in your pocket”, and start working right away with no need for preparation.
In comparison to rented offices the contracts in coworking spaces are more flexible with conditions to terminate (notice periods vary between 1-3 months to a few weeks instead of a few years). If half of your team wants to work from home for example you have the opportunity to make that change quickly and cut costs on office space. Coworking spaces are quite spacious which gives you flexibility when adding new people in your team quickly.
Sitting in a confined space with the same 2-4 people or alone could start to feel annoying and lonely. With a small team of the same people ideas could start repeating themselves. The work place is where most people get their daily dose of socialising needs met and when working alone it could start to feel like an echo chamber.
A coworking space has a constant flow of interesting people and usually a vibrant community life. Frequent events where members of the community can meet and exchange ideas make the life there more inspiring and fun. It does not matter if you identify as an extrovert or introvert, all of us have a need of being part of a community or network.
Cooperation and inspiration
A coworking space brings together people from different fields. A lot of them are business owners and know a thing or two about the struggles of growth. You have access to a lot of knowledge and you can use it to solve your problems, see things in a different light, get new ideas or be part of eye-opening discussions. When being part of a network it is quite easy to find partners or clients as well.
After the pandemic people have realised that having an office is not essential. But what they also have realised is that working from home for a longer period of time can influence the mental wellbeing and productivity levels. The act of getting dressed and moving out of the house is important for putting you in the mindset of working and kicking off the day with good energy. Being in the same room with other people who are also in the work mode can be quite motivating. Freelancers know this well: when there is no separation between your home and work life, they can start to mix and the result is the feeling of never actually working but never really resting. It is a source of constant stress.
Being credible in the eyes of the client or investor can make a big difference between success and failure for a small company. Meeting them in your kitchen might not make you seem trustworthy and a loud and crowded cafe won’t be a very private place to discuss important business topics. A coworking place provides a professional environment with a private meeting room with a screen to show important data, coffee for your guests and it shows that you take your work seriously.
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