Shared office spaces have taken the corporate world by storm since the concept first emerged more than a decade ago. Many small to medium enterprises (SMEs) have adopted this co-working strategy, and for good reason: the business benefits are astronomical. As of 2017, more than one million people worked in a shared office space, so as more and more professionals choose to operate this way, it’s worth taking a look at how a shared office can benefit your business.
Better work dynamics
Co-working spaces in Australia are designed to be as dynamic as the people who use them. No two businesses are identical, so why expect them to perform well in the same environment? Shared office spaces offer customised functionality that you won’t see in a typical office. They foster growth and innovation, and since you’re in the driver’s seat, the options for how you conduct your business are endless.
Low start-up cost
One of the biggest challenges that entrepreneurs face is keeping costs to a minimum. It’s very difficult to grow your business on a budget, so you need to make smart financial decisions. Co-working spaces give freelancers and entrepreneurs a chance to operate in a fully equipped office without the setting up costs. With a shared office, everything is already included and ready to go, all you need to do is show up.
Increased flexibility in the work environment is a huge benefit to small businesses. Not only can you tailor your shared office lease to suit your needs and budget, but as your business grows, it’s very easy to scale up when you’re ready. Whether you’re a solopreneur, a team of two, or company of five, shared offices provide all the flexibility you need. You’ll have access to a wide range of services and facilities, including conference rooms, kitchen, lounges, internet and free professional cleaning. And best of all, you get to choose your own hours.
Many SMEs have to sacrifice location for low monthly rental costs, but what if you could have both? Shared office spaces offer exactly that. They are centrally located in the CBD, meaning clients can easily find you, and your business benefits from the increased number of people and other businesses nearby. The central location also allows for greater networking opportunities and more public transport options to help you avoid parking costs and congestion.
And speaking of networking opportunities, co-working spaces are full of them. This is because renting a shared office means you’re surrounded by ambitious, motivated and like-minded people such as yourself. Your co-working colleagues could be potential partners, clients or mentors, or can connect you with clients of their own. Being part of a co-working community makes it easier to outsource talent to help with specific projects or time-sensitive tasks.
Promotes work-life balance
When you’re responsible for the success of your business, it’s easy to become so work-oriented that your personal life suffers. However, in a shared office space, there are plenty of health and wellness incentives, as well as community areas to encourage socialisation and timeout from work. Burnout is a real problem for many business owners, so a co-working environment helps to combat both the isolation and workaholic mentality that creeps into your work life. ‘All work no play’ is never something you’ll have to experience again.
Tired of working from home with constant interruptions, distractions and loss of motivation? Are your current office rent costs holding back your business growth? Looking for new ways to benefit your small business? Give shared office spaces a go and see the difference for yourself.
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