Coworking spaces are hugely popular these days. However, they are not just hype. There are quite a few reasons why coworking spaces are becoming more and more popular. Coworking spaces have quite a few offerings which the traditional office spaces are missing. These differences have made them popular. We will highlight four such reasons below that makes them quite popular.
- Highly versatile:
Coworking spaces are suitable for everyone. Anyone can work from such spaces. The list includes professionals like:
- Start-up founders
- And so on
The versatility of coworking spaces is one of the main reasons why they have become so popular.
Not only that, working with professionals from various fields provides networking opportunities. You can expand your contacts and get more business merely through networking. It is difficult to find such networking opportunities in a traditional office set up. Consequently, every one of those professionals can grow simultaneously. The versatility has made coworking spaces popular.
- Flexible tenant policies:
The main reason why coworking spaces are becoming popular is because of flexible tenant policies. When you search for office space in Sydney, you will have to opt for a year-long lease or maybe even longer. In this kind of business environment, making such a financial commitment is not possible for everyone.
When you opt for coworking space in cbd Sydney, you can rent office space for a shorter term. In that case, it will become easier for you to have a smaller financial commitment.
You can afford to extend the lease if you wish to do so. Moreover, you can easily switch between a hot desk to a cabin if you want to. Not only the tenure of the coworking space is flexible, but also the kind of space that you rent is also flexible.
If you want to quit office space for some reason, you can do so at short notice. There is no need to give up the deposit or face any penalties. Once again, if you want to resume renting a desk in a coworking space, you can do so easily. The possibilities are endless.
In a nutshell, you have complete freedom when it comes to coworking spaces. The liberty has undoubtedly made them popular.
- Excellent infrastructure:
How much does a world-class office cost?
We are speaking about features like a cafeteria, reception area, community area, and so on. Not to speak of the multiple events which are often conducted in coworking spaces.
For the average business owner, having such infrastructure is not possible. The scale is too small for the average business owner to invest in all these amenities.
Thus, if you rent your own office or even buy one, you will not be able to enjoy such an infrastructure.
Coworking spaces offer the same by default. Not only that, you will not have to worry about the maintenance of infrastructure either. There is a proper management team that can handle any breakdown or problems. You can focus on your work.
The excellent infrastructure on offer has propelled coworking spaces in popularity.
Want to hire more employees?
When you’re working out of a coworking space, you will not have to worry about real estate space for your new employees. You can easily hire additional office space in an instant. You can do so right from the next day.
Secondly, it becomes effortless for you to scale up as well as scale down. Coworking spaces offer you the option to do so on merely a call for an email.
Most coworking spaces possess extensive office space. That is why scaling up will not require them to buy any additional infrastructure or set up anything else. You need to merely inform them about the extra desk space or cabin space you need. Consequently, it becomes easier for you to scale up.
This kind of scalability is missing in the traditional office setup. The extreme scalability has certainly made coworking spaces an attractive proposition.
As you can see, the popularity of coworking spaces has numerous reasons behind it. Even with the increased popularity, coworking spaces are still in nascent stages. Coworking spaces will become more popular in the coming years. If you’re in 2 minds regarding coworking spaces, it is time to go for one.